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The Low Carbon Economy Ltd

26 Nov 2007 04:11:44

Barclays to launch ''carbon friendly'' credit card

Barclaycard has announced plans to launch the UK''s first linked credit card and loan targeted at helping cut household carbon emissions.

The Barclaycard Breathe Easy is scheduled to be rolled out in the summer of 2008, will assist homeowners who want to make energy efficiency improvements to their homes as well as supporting other initiatives that aim to combat climate change.

While the credit card will allow users to benefit from discounts on home improvements thanks to Barlcaycard''s links to retail partners, the loan facility will offer a low interest rate on these balances.

"Many homeowners are put off investing in greater home energy efficiency by the cost of doing so and the long time it takes for their investment to pay them back in terms of lower energy bills," said Barclays chairman, Marcus Agius.

"Barclaycard Breathe Easy addresses this challenge and is a good example of the role which financial institutions can play in helping consumers reduce household carbon emissions," he added.

Under its recently announced Green Homes Scheme, the government is offering one-stop-shop for any homeowner looking to reduce their carbon footprint, providing them with advice and hints about making their property more energy efficient.ADNFCR-1235-ID-18370066-ADNFCR

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