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Business 10 Nov, 2022 Follow News

Staff vehicles make use of the EV station installed at one of the bank’s offices in Barbados.

CIBC FirstCaribbean continues its green initiatives with the recent unveiling of electric charging ports at one of its main offices in Warrens with a further installation expected in a month at its Head Office.

Two EV stations have been installed so far allowing for use by two vehicles at a time at one office location with a further two to be installed at the Michael Mansoor Building, the bank’s head office in Warrens. Provision have been made at both locations for additional charging ports in the future.

“This is another step along the road on our green journey which has included the introduction of paperless statements for all types of accounts and credit cards, the introduction of energy saving protocols in our offices and of course financing green initiatives at the retail and corporate level,” said Chief Administrative Officer Neil Brennan.

He said the bank was “committed to maintaining strong environmental standards and conducting our activities in an environmentally and socially responsible manner that contributes to long-term value for our clients, employees, the communities where we operate, and our shareholders”.

Brennan said the bank’s Corporate and Investment Banking team continues to “blaze a trail in sustainability-linked financing across the region, having arranged transactions totaling almost US$500 million to date. Indeed, we are the largest commercial lender in the regional Renewable Energy sector with over US$200 million in commitments made and counting”.

He noted that for the “second year running our dedicated corporate team won the Caribbean Renewable Energy Forum’s award for Best Renewable Energy Financing, this is a true testament to their commitment and drive in this key area”.

Last month, CIBC FirstCaribbean, working together with Credit Suisse and supported by The Nature Conservancy and the Inter-American Development Bank, successfully closed a USD146.5 million dual-currency Blue Loan and Blue Bond for the Government of Barbados. This funding will, in part, allow Barbados to protect its marine environment and finance other environmental and sustainable development projects over the next 15 years.

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