Barclays announced a range of new green banking products today to support its UK and global customers invest in more sustainability-focussed projects.
The bank wants to enable companies to advance initiatives that can contribute to the environmental targets set out in the Paris Agreement. And it is offering a number of financial instruments to do this, including multi-million pound UK and international Green Loans for large corporates, and for SMEs, Green Innovation Finance, a product supported by the European Investment Fund.
Renewable energy, sustainable agriculture and waste management are some of the areas the new products are targeted at.
“Barclays, like so many of our clients, recognises that addressing environmental challenges is not only a necessity but a compelling economic opportunity. We already have an established presence in the green bond market as a successful lead arranger, investor and now issuer so we are delighted to be able to build on our expertise by launching new, innovative green products to help meet the booming demand for green finance from a broader cross-section of our clients. We’re excited to be at the forefront of something so game-changing,” said Rhian-Mari Thomas, Chair, Barclays Green Banking Council.
Financial institutions have a pivotal role to play in facilitating the shift a sustainable planet. This week’s One Planet Summit in Paris recognised this, with “billions of dollars mobilized and trillions more pointed towards a transformation of the world’s energy to agricultural sectors” to help efforts to deliver Agenda 2030.