Figures that have recently been released by the sustainable bank, Triodos, have shown that the amount of lending they are providing to sustainable organisations has grown by nearly 40 percent in the last year. The figures also show that the amount of money that has been loaned out to such organisations is around £400 million.
Despite the rough economic climate, and the fact that other banks are scaling back their lending, the amount of money that the bank has lent in total is now around £600 million, regardless of sector.
Renewable energy, as well as social housing, were other areas that saw significant growth. Social housing was particularly impressive with a growth of nearly 250 percent. The head of business banking at the sustainable bank is Dr Bevis Watts who has said that, “The bank is ahead of its lending targets. Green companies are continuing to grow and therefore we are providing them with the finance that they need.”
About the growth in lending from the bank he commented, “I can’t think of another bank who has increased the amount they are lending by such a huge figure. It is especially impressive when you consider that these are just lending figures for one sector. It’s great to see that despite the economic climate, the growth of renewable companies is still going strong and it says something great about the future of our economy.”
The bank is based in Holland and it only provides money to companies that are working for the benefit of the environment or for social causes. It has a particular focus on renewable energy, organic food, fair trade and social housing. There are many companies in the UK who have taken advantage of lending by the bank and it has proved that socially responsible companies are a profitable sector.
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