Logistics, freight, sales and marketing business PRL has invested in a new warehouse in Dublin to support its net zero strategy.
Irish and UK-based business PRL has invested in a new warehouse that will help it to both expand but also meet its green objectives.
The business, which specialises in logistics, freight, sales and marketing, has a 90-year pedigree in its field and offers a full 360-degree outsourced business service.
“PRL was the inaugural user of this product and the reduction in energy usage at this facility will positively contribute to PRL’s carbon footprint”
The family-owned business is a long-standing customer of Bank of Ireland and, having recently secured a significant new contract, has expanded its footprint via a new 240,000 square foot warehouse in Dublin.
Green vision
PRL’s management team approached Bank of Ireland to fund the fit out and refurbishment of the warehouse which contributes to reaching a net-zero status. This is very much in line with PRL’s stated strategy with regard to sustainability.
Violet Devereux, CEO of PRL, said the new facility is the latest element of the PRL Sustainability Strategy.
“Our initiatives in the past three years have significantly reduced our Greenhouse Gas Emissions and this has been a multifunctional team effort. We are recognised sustainability leaders in our sector and proud to be one of the first to invest upfront in sustainability improvements.”
Bank of Ireland provided PRL with a five-year Green Capex loan to fund the fit-out of the warehouse, enabling PRL to expand capacity and take on new business.
The Green CapEx loan is a new product developed by Bank of Ireland Corporate and Commercial to support customers as they invest in the sustainable future of their business and the loan features an interest rate reduction for Green spending.
Bank of Ireland recently published its Sustainable Finance Framework, in which it committed to grow its sustainable finance portfolio by supporting its customers in their green initiatives.
Regina Walsh, Associate Director, Bank of Ireland Corporate & Commercial, said: “Bank of Ireland are delighted to support PRL and the management team as they continue to expand. The Green CapEx Loan provides the Group with flexibility to grow while aligning the financing arrangement with its ESG strategy. We look forward to continuing to work with the management team and to support the business.”
Colette Shirley, Director of Sustainability at Bank of Ireland Corporate & Commercial, added: “We were delighted to launch the Green CapEx Loan to support and reward our corporate customers as they invest in more sustainable actions and investments. PRL was the inaugural user of this product and the reduction in energy usage at this facility will positively contribute to PRL’s carbon footprint.”
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