[co-author: Cynthia Chen, Articling Student] On January 19, 2021, together with the Principles for Responsible Investment (PRI), the European Leveraged Finance Association (ELFA) and the London-based Loan Market Association (LMA) jointly published a As sustainable investing continues to gain traction, environmental, social and governance (ESG) considerations are being given increasing significance by borrowers, investors and lenders alike. However, there is a general lack of clarity and consistency with respect to ESG disclosure. Stakeholders agree that a standardized approach to ESG disclosure would greatly benefit the market. The Guide aims to serve as a practical tool for company advisors to use in navigating ESG disclosure in the context of leveraged finance transactions and in integrating ESG considerations into a company’s offering documentation or credit agreement and ongoing financial reports.