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K Line Takes 'Climate Transition Loan' for Gas-Powered Car Carrier shipandbunker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shipandbunker.com Daily Mail and Mail on Sunday newspapers.
NAB trims rate for âsustainableâ Port of Newcastle Save Share Port of Newcastle will pay lower interest under a half-billion dollar loan from National Australia Bank if it fulfils environmental and social commitments, which the bank says will lower the risk of lending to the company by helping to make it more sustainable. The deal is the first time an Australia seaport has taken out a sustainability-linked loan, which sets out behavioural metrics to deliver a reduced borrowing rate, and the first time Port of Newcastle has linked sustainability with financing. It comes as the major banks ramp up their sustainable lending to meet rising demand from corporates. ....
Date Time Landmark loan strengthens long-term sustainability for Port of Newcast National Australia Bank (NAB) has led the development of a landmark loan for Port of Newcastle (PON) that aligns financing for Australia’s largest east coast seaport with long-term environmentally and socially responsible outcomes. The arrangement includes A$515 million in sustainability-linked loans that incentivises Port of Newcastle by offering a lower margin on debt if it hits targets across a range of social and environmental metrics. This is the first sustainability-linked financing by an Australian seaport and the first such loan in Australia to include a modern slavery assessment metric addressing all of the borrower’s suppliers. ....
What is sustainable finance? While there is no agreed upon definition or harmonized measurement of sustainable finance, the Expert Panel on Sustainable Finance has summarized the concept as “capital flows (as reflected in lending and investment), risk management (such as insurance and risk assessment), and financial processes (including disclosure, valuation and oversight) that assimilate environmental and social factors as a means of promoting sustainable economic growth and the long-term stability of the financial system.” 3 More generally, sustainable finance is the process of integrating ESG criteria when making decisions in the financial sector and business decisions for the benefit of stakeholders and society. The ultimate goal is to transition to a more sustainable and lower-carbon economy, which is increasingly viewed as critical to the long-term success of businesses, economies and society. ....
“K” Line: First Climate Transition Finance in Japan “K” LINE is pleased to announce that we have arranged operating lease for the Next-Generation Environmentally-Friendly LNG-fueled Car Carrier through Climate Transition Loan with Mizuho Bank Ltd. (MHBK) and Sumitomo Mitsui Trust Bank Ltd. (SMTB). This loan is recognized as the very first Climate Transition Finance in Japan. The loan was evaluated by Japan Credit Rating Agency, Ltd.(JCR)in line with the Climate Transition Finance Handbook published by the International Capital Markets Association(ICMA)and it acquired the highest recognition, Green1 (T), as an overall evaluation. The concept of Climate Transition Finance is to accelerate the efficient flow of financing to the companies, which address climate change risk as material issues for its core business activities and to do non Business As Usual Efforts in order to achieve its GHG emission reduction target to contribute to the global goals for decarbonization ....