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.
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.”