Top UK ranking for RBS on renewable energy
The RBS Group's success in securing 61% of its global energy needs from renewable sources, while also leading the way in UK loan provision for renewable projects, has earned the bank top ranking in a leading global index.
According to the 2012 Bloomberg Corporate Renewable Energy Index (CREX), RBS is the UK’s number one bank for renewable energy use. It’s also recorded as having loaned more money than any other bank to renewable energy projects in the UK last year.
RBS performance highlights in the UK, identified in the CREX report, include the provision of £50 million to help farmers and small businesses overcome the barriers of upfront costs of renewables projects; providing 50% of the London Energy Efficiency Fund’s £100m loan package for public sector organisations and loaning £366m to renewable energy projects in 2011.
Globally, RBS is applauded for the launch of a series of ‘ambitious carbon reduction targets’, including cuts in energy, paper, water and air travel which CREX estimate could save the company £200m by 2020.
Commenting on the CREX result, RBS Energy and Sustainability Manager, Callum Stuart, said the Group was committed to ‘ongoing reductions’ in its carbon footprint, including cutting energy and associated CO2 emissions by 15% by the end of January 2014.
RBS Head of Energy, Structured Finance, Andrew Buglass, added that, having loaned more than double the amount of any other bank to renewable energy projects in the UK last year, the aim going forward was to offer customers ‘new and innovative ways of managing their own energy needs through renewable sources’.