Banking organization Barclays has increased its commitment to using more environmentally friendly energy by making its largest ever single purchase of electricity generated from renewable sources.
The UK-headquartered financial services organization has entered into a three year fixed price contract with gas and electricity company npower business, which will supply energy from renewable or Climate Change Levy exempt sources, including wind farms, hydro plants and combined heat and power.
Over the course of the three year contract Barclays is committed to buying 30GwHs of certified green energy, an amount capable of powering approximately 10% of the bank’s branch needs or alternatively 230 branches out of a total network of about 2,000. The purchase of 30GwHs of certified pure green energy will avoid the release of approximately 12,900 tones of CO2, Barclays said in a release.
The remainder of the energy being purchased will be sourced from other Climate Change Levy exempt sources, which produce lower carbon emissions than energy derived from traditional fuels.
Andrew Flett, head of Environmental Management at Barclays said, Barclays takes its environmental management seriously. Buying power for our branches from sustainable and low carbon emitting sources is a simple and efficient way for Barclays to reduce its environmental impact. There’s a limited amount of pure green energy available so we’re delighted to have secured this kind of deal with npower. It’s good for business and it’s good for the environment.