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GPE publishes Sustainable Finance framework

By BFN News | 08:55 AM | Thursday 22 July, 2021


Great Portland Estates has published a Sustainable Finance Framework in respect of potential future debt issuance. The publication of the Framework follows the group's £450 million ESG-linked revolving credit facility, reportedly the first of its kind issued by a UK REIT, in January 2020. The Framework provides a context for GPE to potentially issue debt instruments to finance or refinance projects that have a positive environmental and/or social impact, while supporting the group's sustainability strategy and wider business strategy. It is aligned to internationally recognised principles issued by the International Capital Markets Association (ICMA) and the Loan Markets Association (LMA). DNV Business Assurance Services UK Limited have provided a Second Party Opinion (SPO) which confirms the alignment of the Framework to these principles. NatWest Markets acted as Sustainability Structuring Advisor. Janine Cole, sustainability and social impact director, said: 'Following the launch of our Roadmap to Net Zero and "The Time is Now", our sustainability statement of intent in 2020, the Framework marks the next step in our continuing journey to integrate sustainability across all aspects of our business.' Story provided by StockMarketWire.com

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