In a move to help its clients fund more sustainable projects in the UK and globally, Barclays Corporate Banking has launched a suite of green finance products.
By accessing specific products aimed at encouraging investment in sustainable activity, Barclays said its clients will be able to accelerate their investment in green initiatives and support the transition to a low-carbon and sustainable economy.
The suit includes green loans, asset finance and innovation finance, targeting multinationals to SMEs.
“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,” said Rhian-Mari Thomas, Chair, Barclays Green Banking Council.
To help guarantee the integrity of this drive to support green activity, through market-leading green product development efforts, Barclays worked with Sustainalytics, a global provider of environmental, social and corporate governance research and ratings to develop a Green Product Framework.
The bank will use the Framework to identify appropriate projects that will have a positive environmental impact and will therefore qualify for support through one of the new products.
Karl Nolson, Head of Global Lending Group, Barclays Corporate Banking said: “For too long, green projects have been viewed as an added extra, but what we’re increasingly hearing from our clients is a shift in mindset, with sustainability becoming more central to their overall investment strategy.
“We share that view at Barclays and know that unless sustainability is at the heart of how companies conduct their operations, they will fall behind.”