NatWest has launched a ‘green loans’ initiative whereby finance will be made available for farmers and other SMEs looking to invest in renewables, clean technologies and other low-carbon initiatives.
The green loans, accompanied by asset finance through Lombard, follow the bank’s recent declaration of its’ ambition to provide £100bn of Climate and Sustainable finance by the end of 2025, in order to help finance assets required for sustainability plans, including those relating to:
- Agriculture – emissions management, conservation work, livestock and crops
- Electric vehicles
- Clean building measures – energy efficiency and low carbon heating
- Low carbon energy generation and storage
Open for applications from 18th February 2022, the green loans come with no arrangement fee – applicants do not need to be existing NatWest customers.
Paul Thwaite, CEO of Commercial Banking, NatWest Group (pictured left) said:
“Climate change is one of the biggest global challenges we face today, and SMEs have a critical role to play in helping the UK realise its green ambition. The reality is that while SMEs want to help by reducing emissions, they face many barriers doing so such as [limited] access to information, funding and training.”
“We’re working to remove these barriers with concrete actions – providing incentives, such as loans and asset financing that aim to support sustainability ambitions, and aim to benefit businesses whether they bank with NatWest or not.”
Further information on the green loans and asset financing, including details of how to apply, can be found on the NatWest Climate Hub.