Going green in Cardiff

We are pleased to announce our first 'Green Eagle Lab' in Cardiff this week to stimulate and nurture the 'Green' start-up sector across Wales. Green start-up businesses will have 50% discounted membership, providing 24/7 access to the shared office space at the Cardiff Eagle Lab, based at Brunel House, Cardiff, along with a mentorship scheme and networking opportunities with other like-minded businesses.

The 120 seat co-working site includes Maker Space facilities, supporting rapid prototyping and product development, providing access to digital fabrication tools including 3D printers and laser cutting equipment, all available to Green start-up businesses as part of the membership package.

Dr Rhian-Mari Thomas, Chair, Barclays Green Banking Council, explains: “Barclays, like so many of our clients, recognises that addressing environmental challenges is not only a necessity but a compelling economic opportunity. We have already successfully launched a suite of pioneering green financial products and so we are delighted to be able to build on our expertise by launching new, innovative 'Green Labs' to support this vibrant growth sector. We’re excited to be at the forefront of something that has the potential to be transformative and as a proud Cardiffian, I could not think of a better place to launch our very first 'Green' Lab. We look forward to welcoming new 'Green' start-ups that can take office space at the Cardiff Eagle Lab with access to all the resources and support available for just £112 a month in the heart of the City. This is a fantastic initiative and something we plan to replicate across all our other Eagle Labs across the country.”

Recognising the need to support companies of all sizes and across a breadth of sectors to fulfil their green ambitions, Barclays has created a range of tailored products, which represent real innovation in the evolving green finance market. These are:

Green Loans, targeting larger clients who need loans of more than £3m across the UK
International Green Loans, helping international clients invest in green projects around the world
Green Asset Finance, allowing clients to access more flexible ways of financing assets that support green initiatives
Green Innovation Finance, backed by the European Investment Fund, aimed at providing funding for SME clients
Green Deposits, allowing Barclays’ largest clients to earmark funds they deposit against Barclays’ investments in Green Bonds

There is increasing appetite for more financial support for green initiatives, as businesses recognise the commercial benefits, through reduced costs and increased revenue potential; anticipate increasing regulatory requirements, with governments and regulators urging companies to take action to help deliver the Paris Climate Agreement goals; and respond to the reputational impact, as customers expect businesses to be able to demonstrate their environmental credentials.

Rhian-Mari Thomas, Chair, Barclays Green Banking Council, continues: “We’re seeing a marked change in how businesses approach sustainability. Clients are increasingly viewing sustainability as a key consideration in their overall business strategy and are recognising that whilst the threats of climate change and resource scarcity are real, they are also leading to innovative solutions and business growth opportunities.

"We certainly share that view at Barclays and want to support all our clients, from the start-ups in our new Green Lab through to multinational corporates, promoting growth and contributing towards a better, greener, future for all.”