Standard Chartered and ICG announce EUR 1.45 bln ESG facility

Tuesday 27 July 2021 10:41 CET | News

Standard Chartered and Intermediate Capital Group have closed an initial EUR 1.45 billion ESG linked subscription facility for ICG Europe Fund VIII.

The lending group comprises Standard Chartered Bank, BNP Paribas, ANZ Banking Group Limited, ING Bank, and Royal Bank of Canada. The facility will serve as a key source of liquidity for the fund, which is dedicated to investing in mid to upper middle market European businesses. 

The facility structure integrates ICG’s ESG and climate ambitions to deliver sustainable outcomes. Under the sustainability framework, portfolio companies will be required to set ambitious emission reduction targets aligned with a Science Based Target (SBT). SBTs are carbon emission targets aligned with the goals of the Paris Agreement.

In addition, the fund will implement ICG’s ESG Engagement Strategy which focuses on performance improvement across three key themes: climate change, employee engagement and diversity, and inclusion.

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Keywords: partnership, funding, ESG, investment
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Europe
This article is part of category

Banking & Fintech