Santander rolls out 90,000 LED bulb retrofit
The UK's fifth-biggest bank has today (8 December) announced a new project that will see 800 of its UK branches fitted with more than 90,000 LED lights in a £17.5m retrofit lighting investment.
Both the UK Green Investment Bank (GIB) and Sustainable Development Capital Limited (SDCL) have invested £8.4m in the lighting project which will see Santander cut emissions by approximately 7,000 tonnes annually.
Private sector investment makes up the remaining £9.1m funding.
Ed Northam, head of investment banking at the GIB, said: “The relatively simple action of installing LED lighting can have a big impact on efforts to reduce the cost of electricity and cut energy demand while creating a better environment for customers, clients and employees. Santander has recognised this, and should be congratulated for sending a signal to corporate UK that energy efficiency makes good business sense.”
Once fitted the 90,000 lamps, which will also extend to Santander’s 14 UK office buildings, will generate energy savings of more than 50% across the entire estate.
The deal will see SDCL provide lighting services designed by GE Lighting for the next decade in all the branches. Santander says the quality of the lighting will enhance customer experience.
Commenting on the project, the Secretary of State for Energy and Climate Change Amber Rudd said: “We need research, innovation and serious private sector interest in clean energy technology to make real progress in transition to a global low carbon economy. The LED lighting retrofit project is a great example of steps that can be taken by companies to cut greenhouse gas emissions.
“I want a global deal in Paris that will help to ensure our long-term economic security, creating a level playing field for businesses and clearing the path for private sector investment in clean technologies.”
Earlier this year edie launched the Energy Management: Procurement, Planning and Purchasing Priorities 2015/16 report highlighting what businesses are focusing in on in order to drive sustainability.
The report found that 76% of respondents said that energy-efficient lighting systems are the top area they are focusing on this year.
Santander’s project follows on from Canary Wharf Group’s announcement in September that 9,260 LED bulbs had been fitted in London malls saving 3.7million kwh of energy annually, enough electricity needed to light 5,140 homes in the UK.
September also saw the Climate Group announce that a global switch to LED lamps in all sectors would produce electricity consumption by 52%, displacing 735 million tonnes of CO2 annually in the process.