Ethical lender Triodos Bank is offering discounted loans to green restaurants and catering businesses.
Businesses that have received the gold or silver
Food for Life Catering Mark from the
Soil Association are eligible for a one per cent discount on new loans from
Triodos. Businesses that have achieved this certification serve food that uses local, seasonal, organic and fair trade produce. Meat is from sources that meet high welfare regulations and no fish served can be on the Marine Conservation Society’s fish to avoid list.
The bank usually offers catering businesses loan rates between three and six
per cent. The loan is available to new customers borrowing at least
£25,000.
Supporting business sustainability
The bank estimates that the £5 million it is making available at this reduced rate could help support around 70 businesses, and with the discount, business have the potential to save £50,000 a year.
Triodos is encouraging businesses to use the money they would save from the discounted loans to further their sustainability efforts and for those that have achieved a silver mark to transition into a business that meets the stricter
standards for a gold mark.
"There’s a huge environmental imperative to move to more sustainable procurement across the whole of the food chain, matched by growing public appetite for local and organic food," said Ian Price, Triodos’ farming, food and trade team manager. "We hope our new initiative will provide an extra incentive to restaurants and caterers to go for the gold Food for Life Catering Mark and provide more of the good food people are crying out for."
UN food report
The United Nations has recently released a report on the need for agroecology. In addition to citing the need for a secure food supply, the report discusses the need to grow food in a way that does not reduce
biodiversity or pollute the soil and water. Caterers and restaurants that have achieved silver and gold catering marks use foods grown in these sustainable ways.
"Triodos stands out among banks as one that really puts its money where its mouth is, and we hope this initiative will provide support for caterers to move towards even higher standards of sustainability," said Mike Bond, Soil Association catering mark manager.
Triodos Bank funds organisations that work to benefit society, culture and the environment, such as organic
food and farming,
renewable energy and fair trade. In 2010, Triodos Bank achieved record growth of 26 per cent, with £105 million to fund environmental businesses and organisations.
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