Barclays first funding below the Sustainable Impression Capital initiative
Financial services company and winner of the World Branding Awards, Barclayshas announced a significant stake in SaveMoneyCutCarbon, the digital aggregator that offers a unique marketplace for sustainability and offers companies and consumers affordable products and solutions that want to reduce their carbon footprint and be more sustainable.
This is Barclays 'first investment as part of its new Sustainable Impact Capital initiative, which aims to invest £ 175m in innovative and green businesses over the next five years – an important part of Barclays' commitment to a low-carbon economy .
SaveMoneyCutCarbon was founded in 2012 and has helped hundreds of thousands of customers reduce their carbon footprint while saving money by using water and energy more sustainably. With the new relationship with Barclays, SaveMoneyCutCarbon is growing faster.
From schools, hospitals, hotels, warehouse operators, and public sector organizations to thousands of households across the country, SaveMoneyCutCarbon customers collectively save over 727 million liters of water and 23 million kWh of energy per year, a CO2 reduction of 6,765 tons per year Year corresponds to completed projects and products that are sold on the online platform. The reduction in CO2 emissions alone corresponds to a journey of 23.24 million miles in an average petrol car.
Mark Sait, CEO of SaveMoneyCutCarbon, said: “Investing in Barclays will be an important prerequisite to accelerate plans for national and international growth. We are uniquely positioned to meet the retrofit challenge that UK domestic and commercial building stocks and turbocharger companies face in introducing energy and water efficiency to meet the UK's net zero CO2 target. Our vision is to become the brand for households and organizations that want to reduce consumption, reduce their carbon footprint and want to be more sustainable. "
Andrew Challis, Co-Head of Principal Investments at Barclays, said: “SaveMoneyCutCarbon has helped UK businesses and households to become more sustainable and we look forward to being part of the next phase of growth and broader UK and global efforts to limit CO2 emissions to support emissions. "