AIB taps green finance market for loan scheme
AIB has launched a new structure that will allow the bank to boost lending for green and environmentally friendly projects.
As much as €5bn over five years could be available to lend through the bank's so-called Green Bond Framework.
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The bank said the scheme meets recognised International Capital Market Association green bond principles. It will enable the bank to issue green bonds on the markets, to raise funds for lending to projects in energy efficient building, renewable energy, CO2 reduction and other climate-related initiatives.
AIB has also become a founding signatory of the UNEP FI (United Nations Environment Programme - Finance Initiative) Principles for Responsible Banking, along with 130 banks worldwide.
AIB chief executive Colin Hunt said the Green Bond Framework means the bank can back customers addressing the transition to a low-carbon economy, and lead the way in funding sustainable Irish businesses.