A new banking consciousness has begun!
As Britain heads towards it’s goal to drastically cut its carbon emissions by 2020, thw world’s first green bank will
use at least 80 percent of its capital to fund the Government’s Green Deal.
According to their website — and fabulously snubbing Canada:
In order to meet this green challenge there are ambitious and legally binding targets which the UK must meet. These are set out in the Kyoto Protocol, the 2008 Climate Change Act and the Energy Bill of 2012. Building green infrastructure and financing the projects to support this will be fundamental in meeting the targets including:
- a reduction in green-house gas emissions of 34% by 2020 and at least 80% by 2050;
- 15% of all energy consumed generated from green sources by 2020; and
- ‘reduction in waste’ to landfill.