For Unipart the green agenda means doing things well and doing things responsibly.
Climate change is one of the biggest global risks that we face today.
There's a pressing need to limit the global temperature increase, action needs to be taken very very quickly and therefore I think companies need to move quicker than regulation.
Environmental sustainability is at the core of our values because it improves productivity and efficiency. It is very important to our employees and our business partners.
It's represented at board level right down to every level of the business, right down to the shop floor. So we believe it's something that should be intrinsic to the way a company operates and the way a company does business.
It's not just about doing what's right for the environment you have to do what's right for the environment but still be able to prosper as a business.
Green Finance is lending for green purposes anything that will move the environmental agenda forward - whether that's sustainability, energy reduction, carbon reduction, waste reduction.
When we provide a green loan to our clients they get the financing under that product as they would have done normally, they will get an accreditation that effectively says to investors that the market and indeed to internal employees that this loan has a green element to it, it's being used for the purposes of benefiting the environment.
So in terms of identifying the opportunity with Unipart we always felt that they would have a strong environmental agenda. One of the areas they're working on was smart lighting.
Unipart has distribution centres all over the world and we are headquartered here in Cowley. The current distribution centre is over a million square foot and it had very old inefficient lighting. We used to have tens of thousands of fluorescent tubes which were old and very inefficient. We've now replaced those ones with LED lights which are 70 percent more efficient. So we got three key benefits of having LED lights the first one being they're actually motion-sensored and second one is they actually adjust the amount of lighting according to the natural light from the sky and thirdly they have given us additional benefits in terms of maintenance. We now maintain or replace these ones less frequently than the old fluorescent tubes.
Pursuing a sustainability agenda can seem like additional cost. What we found is exactly the opposite that we can make important cost reductions and important efficiency savings and also to create a workplace that's better and more appealing to our employees. For any business today that's thinking about improving their sustainability agenda the access to green finance is going to be very helpful it's going to make it easier to do and it's going to make it quicker. So we would advocate that they looked at using these sorts of initiatives to remove some of the barriers that could get in the way of them doing the things that are right for their business and right for the environment.