Barclays launches new Green BGIs to support sustainable trade
Barclays Corporate Banking has announced the launch of a new Green Bonds Guarantees & Indemnities (BGIs) product, which will offer support to businesses trying to reduce their environmental impact as they conduct their day-to-day activities.
The Green BGI focuses on tackling the challenges that businesses face when entering into trade-related contracts. By providing a guarantee to the buyer that the seller will fulfil their contractual obligations, the bank enables sellers to trade with confidence and achieve their business goals – whilst also fulfilling their commitments to sustainability.
The bank is helping companies of all sizes and across a breadth of sectors to fulfil their green and sustainable goals by pioneering a range of innovative products and services, including Green Asset Finance, Green Deposits, Green Innovation Finance and Green Trade Loans.
James Binns, global head of trade and working capital at Barclays, said: “The launch of Green BGIs is the latest example of Barclays’ commitment to unlocking access to Green and sustainable finance for all businesses. We’re proud that this new product is now available to facilitate more Green trade, and hope that it will play a big part in building momentum in support of the transition to a low-carbon future.”