Lloyds Bank has created a team to help corporate clients make their businesses more sustainable.
The bank said that the new team will specialise in structuring environmental, social and governance (ESG) products and services.
Jonas Persson, currently head of the sustainable and natural resources team in the bank’s Corporate & Institutional Coverage (CIC) division, which supports large businesses, will lead the team.
“Sustainability has rightly been on the corporate agenda for a number of years, with the Paris Agreement and the UK’s net-zero legislation in 2019 focusing minds on the measures needed to tackle climate change,” said Jonas Persson, managing director and head of the new sustainability team. “Finance has a key role to play in that, both in funding new, greener projects and incentivising corporates to continue making sustainable changes to their businesses.”
He added: “The new team will combine deep experience in structuring sustainable finance products across many sectors with expertise and insights to help clients make the right decisions for their firms and the environment. Our investment in this area reflects our belief in the role that business has to play in building a more sustainable society and our own commitment to being a leading sustainable bank.”
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