June 13, 2018 / 10:33 AM / 3 months ago

Macquarie issues 500 million pound green loan

LONDON (Reuters) - Macquarie Group (MQG.AX) has issued a 500 million pound ($667 million) green loan as a part of a wider 2 billion pound loan issue, Australia’s largest investment bank said on Wednesday.

FILE PHOTO: The logo of Australia's biggest investment bank Macquarie Group Ltd adorns a desk in the reception area of their Sydney office headquarters in Australia, October 28, 2016. REUTERS/David Gray

As governments and companies seek to meet global targets to cut greenhouse gas emissions and combat climate change, investor appetite has risen for so-called green loans and bonds.

Both are used to fund projects which have clear environmental benefits, such as renewable energy, low-carbon transport or sustainable buildings.

Macquarie said there was particularly strong interest for its loan from Asia.

Macquarie also said it is the first financial institution to issue a green loan under green loan principles developed by the Asia Pacific Loan Market Association (APLMA) in March.

Under APLMA’s principles, a green loan’s proceeds have to fund green projects that provide clear environmental benefits.

Reporting by Susanna Twidale; editing by Jason Neely

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