New UK fund to promote improved energy performance of commercial buildings

We are all concerned about finding adequate financing for energy efficiency projects. Priyanka Shrestha writes on the Energy Live News website about a new fund established by a commercial bank in the UK to support energy performance improvements. This is a welcome development.

 

Lloyds Bank launches £1bn energy efficiency fund

A new £1 billion fund to help owners of commercial real estate improve the energy efficiency of buildings has been launched.

Lloyds Bank will support its clients’ adoption of energy-saving measures by providing loans of £10 million and above.

Those companies interested in getting the discounted loans from the fund will have to undergo a test to be eligible.

The bank expects the initiative to help cut carbon emissions by around 110,000 tonnes, equivalent to the annual energy use of more than 22,000 homes.

James Garvey, Managing Director, Head of Capital Markets at Lloyds Bank said: “With the built environment responsible for almost 40% of energy consumption as well as 36% of carbon emissions in the UK, incentivising and supporting green improvements for our real estate clients is a priority area of focus.

“At the same time, we see significant investor interest in green and sustainable assets across the capital markets spectrum. Therefore, we want to continue to take the lead in innovating products in order to help spur growth in this essential market.”

A group of MPs from the Energy and Climate Change Committee is calling on the government to reinstate the zero carbon homes policy to makes homes more energy efficient and help consumers save money on their bills.

2 thoughts on “New UK fund to promote improved energy performance of commercial buildings

  1. It would be helpful were Lloyds Bank to tell us over how long a period they anticipate exhausting this £1bn fund.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s