Ethical and sustainable bank Triodos experienced a record 26% increase in its loan book in 2010, totalling £312m as a result of other banks restricting their lending.
The 2010 growth represents over 150% of that achieved in 2009. Of the £312m, £80m of new financing has been paid out to environmental, social and cultural projects. Lending to environmental businesses grew by almost 44% to £105m, which included money for two of organic waste specialist Agrivert’s in-vessel composting facilities.
Head of business bank at Triodos, Bevis Watts said: “Many green agendas haven’t slowed down in the recession – for instance the need for more renewable energy – so there’s still huge demand for sustainable finance. We’re also still seeing other banks restricting their lending, with more business coming our way as a result. “
Watts believes for 2011 food waste processing “continues to hold the greatest opportunity, but only if bankable local authority contracts become available.”
However, he added that anaerobic digestion and waste and recycling enquiries were quiet in 2010, possibly as a result of people waiting for the waste review in Spring.