Lloyds Banking Group has launched a new £2 billion clean growth finance scheme to help its Commercial Banking customers invest in a lower carbon future.
The Clean Growth Finance scheme aims to deliver the most inclusive UK green funding in the market by providing the incentive of discounted lending to help businesses invest in reducing their environmental impact as well as boosting productivity more generally.
The funding will support all Commercial Banking clients across multiple ‘green lending’ ambitions allowing businesses to reduce carbon emissions; increase energy efficiency; improve water efficiency; reduce waste whilst improving recycling rates and investing in low carbon transport.
This latest investment brings Lloyds Banking Group’s total ‘green’ commitment to £3 billion and builds on the existing £1 billion support to improve the energy efficiency of large Commercial Real Estate, and the Helping Britain Prosper plan pledge to support projects powering 5 million homes through renewable energy by 2020.
David Oldfield, Group Director Commercial Banking, said: “Businesses will continue to be a source of innovation and seize the opportunities presented by the global low carbon economy.
“Our funding will support small improvements in production, heating, transport, or environmental impact, right through to large scale renewable energy infrastructure.
“By building on our commitments to help clients with discounted finance for investments in sustainable business, we will in turn support the UK’s goals for clean growth.”