In April, Gecina and ING announced the first commercial real estate loan deal linked to a GRESB score. It marked an important step in green financing in the real estate sector and we are pleased to see the loan recognized by Property Investor Europe in their Bank Loan of the Year 2018 Award.
ING has a strong commitment to sustainability. We see it as part of our responsibility to find innovative ways to empower our clients on their sustainability journey and are proud to have implemented the first sustainable improvement loan based on GRESB rating with Gecina. Sustainable finance is a new standard to our industry. We are delighted to have this confirmed by an industry award for Bank Loan of the Year 2018, by Property Investor Europe.
We’re now seeing similar loan programs in the Infrastructure sector, with Thames Water and BNP Paribas establishing a revolving credit facility with the interest rate tied to GRESB Results. The £1.4 billion revolver was arranged by BNP Paribas and runs until 2023. The margin paid is linked to Thames Water’s GRESB Infrastructure score.
We are greatly encouraged by these innovative sustainable banking initiatives leading to direct financial benefits for borrowers for their sustainability action.
Update: 05/03/2019: Europapress: ING grants a sustainable loan of 75.7 million to Colonial. The loan is linked to ESG performance as measured by GRESB. (Article is in Spanish)