KUALA LUMPUR, Sept 29 (Bernama) -- Barclays, a British universal bank has announced the launch of its inaugural Green Structured Notes Programme, offering institutional and retail investors a differentiated green investment opportunity, with the structured note payoff based on a green index.
The proceeds of the notes are allocated to the financing or re-financing of eligible green activities such as renewable energy, energy efficiency and sustainable transportation loans and contribute to Barclays Net Zero Ambition and providing £100 billion of green financing by 2030. (£1 = RM5.666)
Head of Global Markets and Co-President of BB PLC at Barclays, C.S. Venkatakrishnan, said: “We continue to see increased client demand for sustainable investment opportunities and today’s launch of Barclays’ green structured notes programme provides clients with a new and innovative opportunity to access the green market.
“It’s also a terrific step forward in our innovation journey within Global Markets to offer more compelling and sustainable structured products offerings.”
Meanwhile, Group Head of Public Policy and Corporate Responsibility, Sasha Wiggins, said: “Last year, we announced our commitment to align all of our financing to the goals of the Paris Agreement, on the way to achieving our ambition to be a net zero bank by 2050.”
“We also committed to £100bn of green financing by 2030 and this innovative investment offering to our clients is a new and important part of delivering that commitment in order to help accelerate the global transition to a low carbon economy.”
Both the investment and the use of proceeds will be in line with the Sustainable Finance Framework and Green Issuance Framework, and the index is selected in line with the Green Index Selection Principles, according to a statement.
The portfolio of green projects the proceeds will fund will be originated by Barclays Bank PLC in the regular course of business, and will be verified by a third party verification agent.
The announcement follows the launch of the Barclays Solactive Climate Change Europe BTI index and Barclays’ intention to support climate-related products and initiatives through Green Bonds issuance.
-- BERNAMA
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