AIB announces €5 million fund to invest in sustainable technology start-ups
As market research has highlighted that 41 per cent of Irish consumers are planning to tackle home improvements over the next 12 to 18 months, AIB has committed to a new €5 million equity fund to assist start-up companies in the sustainable technologies sector.
Speaking at the Sustainability Gathering in Dublin Castle, the CEO said AIB is committed to further developing support plans for green technologies because “there is a gap in the eco-system here.’’ The bank will work alongside the International Sustainability Investment Centre to leverage the €5 million equity provided by AIB.
Mr Byrne also announced that AIB is launching a free Building Energy Rating (BER) certificate and personalised advisory report for customers taking out new Home Improvement Personal Loans.
“Climate change and impact investment has jumped up at us as an obvious opportunity that we need to get right behind. We are in the sustainability game for the long haul and therefore we are focused on the impact AIB can have in terms of providing credit to support the social and environmental health of the country,’’ he said.
“The bank’s Home Improvement Loan will help individuals and families fund renovations and energy efficiency initiatives in order to enhance the comfort of their homes, to save money on energy bills and to benefit the environment. With this scheme, we are supporting the completion of an estimated additional 10,000 BER assessments each year. The provision of free BER certs to our customers will raise awareness of the benefits of energy efficiency at a time when the world is facing the challenge of significantly reducing carbon emissions,’’ he added.
Image: AIB Chief Executive Officer Bernard Byrne