Barclays is launching new sustainable Bonds Guarantees & Indemnities (BGIs) aimed at businesses trying to reduce their environmental impact.
These Green BGIs will focus on the environmental concerns firms are confronted with in trade related contracts. They provide a guarantee to the buyer that the seller will fulfil their contractual obligations, with the bank allowing 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 sustainability 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.”