June 13, 2018 / 10:33 AM / 5 months ago

Macquarie issues 500 million pound green loan

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

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.

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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