Bank of Ireland targets €30bn in sustainability-related lending by 2030. Green mortgages now account for half of the Bank’s new Irish mortgage lending.
Bank of Ireland has raised €750m to fund sustainable projects through its second green bond issuance of the year.
The fundraising – which was two-times oversubscribed – will finance clean transportation, renewable energy and green buildings.
“Our focus remains on providing highly practical and useful solutions and supports that help Ireland move to a low-carbon future”
Bank of Ireland has issued €1.5bn in bonds through its Green Bond Framework so far this year, bringing total issuances to date to around €4bn.
Clean and green
Bank of Ireland’s chief sustainability and investor relations officer Eamonn Hughes
It is the first Irish bank to set scientifically-validated targets for reducing greenhouse gas emissions, covering 76% of the loan book and all of the Group’s own operations.
In this context, it has also published a target to grow sustainability-related lending on its balance sheet from around €8bn in 2022 to €15bn in 2025 and €30bn by 2030.
Green mortgages now account for half of the Bank’s new Irish mortgage lending.
“Bank of Ireland is committed to working with our customers, colleagues and communities to support their transition to a resilient, net zero economy by 2050, in line with the Irish and UK governments’ ambitions and targets,” said Bank of Ireland’s chief sustainability and investor relations officer Eamonn Hughes.
“We have made good progress to date in supporting green loans and mortgages for customers and in transforming our own operations and reducing our carbon footprint. Our focus remains on providing highly practical and useful solutions and supports that help Ireland move to a low-carbon future.”
