In December 2023, Lloyds Bank completed a GBP 550 million debt securitisation facility with Octopus Electric Vehicles to support the expansion of the company’s EV salary sacrifice programme, which began in 2021.
Under the programme, drivers can save up to 40% on their monthly leasing costs. Octopus Electric Vehicles provides drivers everything they need to take to the road – an electric car, a charger, and a discounted energy tariff.
By facilitating the expansion of Octopus Electric Vehicle’s programme with this facility, Lloyds is helping to advance the United Kingdom of Great Britain and Northern Island’s (United Kingdom) transition to low-carbon mobility
Read more on Lloyds’ net-zero targets here.
This case study was originally published in the Net-Zero Banking Alliance 2024 Progress Report (October 2024).
Disclaimer: NZBA shares case studies to promote member banks’ awareness of new approaches, tools, products, services, and transactions related to financing the transition to net zero. Featuring a case study naming a particular bank does not represent an endorsement of all actions from that bank.