Local relationship bank Handelsbanken will develop new asset lending products that encourage electric and low-emission vehicles, helping businesses and private drivers make the switch.
The Swedish bank has been operating in the UK since 1982, in a decentralized way of working, with a strong local presence thanks to a national network of branches and a long-term approach to customer relations.
To support his plans to go net zero by 2040, he signed a new data partnership with Experian that aims to reduce carbon emissions on UK roads.
By sharing data insight, including information on CO2 emissions, Experian will be able to help Handelsbanken understand what percentage of vehicles within its asset finance portfolio are considered high or low emissions. . Handelsbanken will then create new loan products that could encourage new and existing borrowers to choose low-emission or electric vehicles in the future.
Mark Broadley, Product Owner of Asset Finance at Handelsbanken, said: “We have always felt a strong sense of responsibility towards our communities, which is why Handelsbanken has set itself an ambitious goal of achieving net zero of here 2040. As a bank, the greatest impact we can have is through what we fund and what we invest in. That’s why we need reliable data – in this case on vehicle emissions from our asset finance clients – so that we can support them on their own low-carbon transition journeys.