UK: Lloyds Banking Group launch ‘Clean Financing Initiative’ for commercial businesses

Last month, Lloyds Banking Group launched a £2 billion fund with the intention of helping commercial businesses improve their productivity, whilst reducing their carbon footprint and environmental impact.

The loan, offered at a discounted rate if a business wishes to be greener, will enable businesses to improve water efficiency, invest in low carbon vehicles, reduce emissions for business properties and processes, as well as improve waste reduction and recycling rates.

Lloyds Banking Group initially launched a similar scheme in 2016 with £1 billion in funding, and original estimates stated that over the course of a four-year loan, the energy savings would be comparative to 22,000 households. With the new scheme being worth double the amount of the fund in 2016, it is likely the amount of energy saved will be far greater.

The fund will be available to commercial businesses of all sizes, whether small or multinational.

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