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RBS Starts 200 Million-Pound Fund to Help Businesses Save Energy

Dec. 10 (Bloomberg) -- Royal Bank of Scotland Group Plc, Britain’s biggest taxpayer-owned lender, started a 200 million-pound ($320 million) fund to help U.K. businesses reduce energy use and lower costs.

The money will back energy-efficient and low-carbon technologies for lighting and heating, Edinburgh-based RBS said today in an e-mailed statement. Businesses with annual sales of more than 25 million pounds will be eligible.

The U.K. has a target to cut greenhouse-gas emissions by 34 percent by 2020 from 1990 levels, and by 80 percent by 2050. It’s seeking to get 15 percent of its energy from renewable sources within eight years, up from about 9.4 percent now.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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