Launch of £200 million carbon reduction fund
A £200m carbon reduction fund to help UK businesses reduce energy costs has been launched by the Royal Bank of Scotland.
The fund is supported by the government’s Funding for Lending scheme, which will allow the bank to provide lower lending rates to companies.
It will aim to finance a range of sustainable energy projects for businesses from retro-fitting buildings with more energy efficient heating and lighting to on-site wind power and ground source heat pumps.
RBS Corporate and Institutional Banking’s Carbon Reduction Fund will help businesses with a turnover of more than £25m.
“Businesses of all shapes and sizes can make significant savings from being more efficient as energy costs continue to rise,” said Chris Sullivan, chief executive of RBS Corporate. “We hope to offer businesses both an incentive and a solution to transforming their energy use and carbon footprint.”