The British bank, Barclays, has launched a number of tailored products in a bid to reposition itself in the green finance market.
The Bank has issued a range of Green Loans, that are to target UK clients who require more than £3mn (US$4mn) in funding.
The bank is also offering other loans and asset finance solutions to global projects and SME clients.
“Barclays, like so many of our clients, recognises that addressing environmental challenges is not only a necessity but a compelling economic opportunity,” reported Rhian-Mari Thomas, Chair of the Green Banking Council at Barclays.
“We already have an established presence in the green bond market as a successful lead arranger, investor and now issuer so we are delighted to be able to build on our expertise by launching new, innovative green products to help meet the booming demand for green finance from a broader cross-section of our clients.”
“We’re excited to be at the forefront of something so game-changing.”
Barclays has also launched Green Asset Finances for “green initiatives” and a green deposit system that allows larger clients to outline deposit funds against the bank’s green bonds.
In order to make this green update, the bank worked with Sustainalytics, ESG research providers, to create the framework.