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.

Goods, services and activities that qualify for green BGIs include renewable and energy efficiency projects, green transport, sustainable food, agriculture, waste management and water and carbon energy financing.

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.”

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