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Bank ploughs £2bn into clean growth

Lloyds Banking Group has launched a £2bn fund for clean growth projects, including those designed to increase recycling.

It said the money would provide discounted lending to help businesses invest in reducing their environmental impact while increasing productivity.

Clients will be able to access money for projects to increase recycling rates and to reduce carbon and greenhouse gas emissions for business processes, properties and infrastructure.

The fund will also finance projects to increase energy efficiency and make sustainability improvements, invest in low-carbon vehicles and transport and to improve water efficiency.

Lloyds said the fund brought its total ‘green’ commitment to £3bn, having already allocated £1bn for schemes to improve the energy efficiency of large commercial premises and for home renewable energy work.

David Oldfield, group director of 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.”

 

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