Republic Financial Holdings Ltd. (RFHL) announced today that it has surpassed its US$200M pledge which it had set to lend and invest in climate financing. The goal was initially set in 2021, following the Group becoming a signatory to the United Nation’s Principles for Responsible Banking (PRB) and the Net-Zero Banking Alliance (NZBA).

The goal was designed to mobilise lending and investment for climate-focused projects across the Group’s operating markets. To date, the Bank has deployed approximately US$235.5 million in climate-centric financing, exceeding the original target by nearly 18 per cent, or just over US$35.5 million.

In a release today, the Bank noted that Trinidad and Tobago has been its leading market, accounting for 42.17 per cent of total climate finance activity followed by Barbados with 25.36 per cent, while Guyana and Ghana contribute 12.17 per cent and 10.36 per cent, respectively.

These results the Bank said, highlight the strong demand for climate-focused financing across both RFHL’s Caribbean and African markets.

“Surpassing our US$200 million climate finance target demonstrates the growing appetite for sustainable finance within the region and underscores the critical role financial institutions can play in supporting the transition to more resilient, low-carbon economies. I also want to acknowledge the dedication and collaboration of teams across our branches, units, and subsidiaries, whose collective efforts were instrumental in achieving this milestone. Their commitment continues to drive meaningful impact in climate resilience, sustainable development, and shared prosperity across the markets we serve,” the Bank Group CEO Nigel Baptise was quoted as saying.

The Bank noted that renewable energy remains the primary driver of climate finance activity, accounting for 46.46 per cent of total climate lending and investment. This is followed closely by sustainable transport, which represents 40.28 per cent of total climate finance deployed.  As a result, it says Financing under the programme supports individuals and businesses undertaking climate-adaptive and climate-resilient projects across a broad range of sectors.

Some of the initiatives include renewable energy, sustainable transport, energy efficiency, sustainable agriculture, and other climate solutions that promote long-term environmental and economic sustainability,” the Bank said in a statement.

The Bank said it will continue to actively support climate-related projects, mobilise finance, and expand access to funding to advance climate adaptation, mitigation, and technical assistance, particularly in low-income and vulnerable communities.

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