Andorra la VellaCreand Crèdit Andorrà launches a new line of loans based on sustainability criteria, with the aim of promoting the transition towards more responsible consumption and contributing to the reduction of CO2 emissions.
The range includes the new ‘Efficient Home’ loan, intended exclusively to finance improvements to homes to make them more energy efficient. The other two loans with sustainability incentives are for the purchase of a home or a 100% electric vehicle. In these cases, incentives involve improving financing conditions if sustainable criteria are taken into account.
“These are incentives that want to reward sensitized customers for applying sustainability criteria in important investments for them. As a financial institution we want to contribute to the country’s energy transition and we believe that through small changes that we promote in our customs we can contribute a big impact”, explained the director of Creand Crèdit Andorrà’s Sustainability unit, Martí Alay.
The new ‘Efficient Home’ loan provides financing with advantageous conditions to customers interested in investing in energy efficiency improvements at home, with no study fee or total or partial cancellation and with a variable rate of the annual Euribor plus 1.75%. Financing can be from 300 euros to 40,000. The loan can be requested for the installation of solar panels or storage batteries, heating, cooling and hot water systems with efficient alternative energy systems or facade insulation and intelligent control devices, among others “With this loan we provide financing to improve the emissions of the real estate sector, which is responsible for 30% of the country’s emissions”, says Alay. In the case of the mixed mortgage and the variable mortgage, the study commission for the acquisition of properties with energy certificate A/B is 0%.
In the case of the ‘Green Car’ loan, the rate that applies to the purchase of 100% electric vehicles is annual Euríbor plus 2.95%, a more advantageous rate than the annual Euríbor plus 5.75% that applies for the other vehicles
Creand Crèdit Andorrà is the first Andorran bank to adhere to the United Nations Global Compact and the UNEP FI Principles of Responsible Banking, a roadmap for a committed banking strategy, to harmonize business criteria with progress social and environmental protection. The entity has been recognized as Andorra’s Best CSR Bank 2023 by the international financial publication Global Banking & Finance Review, an award it has received since 2015.
