DLL and EIB launch green investment push in Ireland

The new cooperation will strengthen new investment by Irish companies, farmers and entrepreneurs to reduce energy use and cut emissions and costs by adopting alternative and renewable energy and improving water and waste management. The move is designed to encourage increased business use of low emission tractors and excavators, as well as solar power and energy efficient lighting enabled by a new cleantech initiative.

Christian Kettel Thomsen, EIB vice president (pictured above), said: “Accelerating green business investment is crucial to deliver a climate neutral economy and enable companies to cut energy bills, reduce emissions and create green jobs. The European Investment Bank is pleased to support DLL’s visionary support for climate action and environmental business financing across Europe. Ireland is the largest beneficiary of the new initiative reflecting the ambitions and opportunities for scaling up green business investment across the country.”

Fergal O’Mongain, general manager DLL Ireland, added: “DLL believes sustainability is essential to long-term success – for our partners, our business and our world. The strengthened partnership with the EIB will improve access to tailor-made business financing to help companies across Ireland speed up energy efficient, clean energy and environmental investment.”

European green business financing initiative

The EIB’s new agreement with DLL Ireland is part of a wider pan European green financing program being undertaken by the EIB and DLL. With a total value of €200 million, this program will include targeted financing for climate action investment by DLL in Belgium, the Netherlands and Luxembourg.

The pioneering scheme will finance business investment focused on sustainable investment with an explicit climate action benefit. It will support

DLL business financing over the next years and include leasing financing for agriculture and food businesses and other energy efficient projects.

Legal agreement for the new EIB support for DLL climate action leasing financing in Ireland is expected to be finalised in the coming weeks.

In 2020, the EIB Group provided €1 billion for new private and public investment in Ireland.

Asset Finance Connect

Find out more about the opportunities and challenges for the equipment finance industry as it comes to term with the increased focus on ESG (Environmental Social Governance) at Asset Finance Connect’s conference on 9 November.

John Rees, community leader of Equipment Finance at Asset Finance Connect and former joint chief commercial officer at Societe General Equipment Finance, will lead a discussion on ESG, with a panel including Paul Jennings, managing director, JCB Finance; Richard O’Donohue, senior director, partner solutions, Dell Technologies; Adrian Samareanu, CDO & Group SVP, Volvo Financial Services; and Carmen Ene, CEO of 3stepIT.

The presentation will take place at the Asset Finance Connect UK Conference and Awards on 9 November 2021 at ETC venues St Pauls, London.

Among the topics John will consider with the panel:

• Understanding ESG and ‘walking the talk’.
• Risk and rewards.
• Core capabilities and products.
• Partnership opportunities between lenders and manufacturers.

To find out more and to book for the event, go here.