As Allied Irish Bank (AIB) has funded €380mn in green mortgages, it reduces interest rates on its Green Five-Year Fixed Rate Mortgage by up to 20bps to encourage a reduced carbon footprint in the housing sector. Green mortgage originations to date will have the potential to reduce CO2 emissions by c. 212,592 tonnes over 30 years, according to estimates by AIB. The bank has also introduced a Green Personal Loan for up to €30,000 which can be used for residential renovations. A €20,000 Green Personal Loan would represent a saving of c. €1,352.40 relative to a Standard Five Year Personal Loan given the new green rate over a five year period.
Sectors: Buildings, Finance
Country / Region: EuropeTags: carbon, carbon dioxide, carbon footprint, emissions, funds, loans, SMARTER
In 5 user collections: Green Home Investment Platform – Industry Regulators , Green Home Investment Platform – National Regulators , Green Home Investment Platform – Supranational Regulators , Green Home Investment Platform – Institutional Investors , Green Home Investment Platform – Banks
Knowledge Object: Web Resource
Author: Paddy McDonnell, Graham Union