This Practice Note provides information on green loans and key issues to consider when drafting a green loan agreement. It focuses on the Green Loan Principles (GLP) published by the Loan Market Association (LMA), the Asia Pacific Loan Market Association (APLMA) and the Loan Syndications and Trading Association (LSTA).
The Practice Note:
explains what is meant by a green loan
provides an introduction to the GLP and the related guidance (GLP guidance)
explains what the four components are of a green loan, as set out in the GLP, and summarises its guidance on these four components
summarises guidance contained in the GLP and GLP guidance around what can constitute a green loan, reviews and greenwashing, and
provides information on finding precedent wording, including information on the Loan Market Association draft provisions, and drafting tips
Green loans are described in the GLP as:
‘…Green loans are any type of loan instruments and/or contingent facilities (such as bonding
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Katie is a knowledge lawyer in Norton Rose Fulbright's London office, specialising in asset and structured finance with particular expertise in aviation finance.
Within those sectors, Katie has worked on a wide range of finance and leasing transactions, involving export credit financing, cross-border structured financing, all aspects of operating and finance leases, sale and leaseback of aircraft and tax-driven structured financings. Katie has acted for a wide range of clients, including banks and financial institutions, operating lessors and airlines, as well as the European export credit agencies. She has also advised on offshore and shipping finance transactions and on the leasing of rolling stock.
Rosa is a project finance lawyer in Norton Rose Fulbright's London office, with particular experience in renewable energy projects and emerging markets, and a keen interest in sustainable finance. She trained with Norton Rose Fulbright and has over ten years' experience advising on project financings in the UK, Europe, Sub-Saharan Africa and the MENA region. She advises lenders (including multi-laterals and development finance institutions), sponsors and governments on the structuring, financing and contractual arrangements on all types of projects, ranging from small-scale solar PV projects to complex cross-border international financings.
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occupational pension scheme resources may not at any time be invested in an employer-related loan. In accordance with section 40 of the Pensions Act 1995, employer-related loans are: loans to the employer or any such person; shares or other securities issued by the employer or by any person who is connected with, or an associate of, the employer; or employer-related investments eg a guarantee or security for obligations of the employer. This does not apply in respect of small self-administered schemes (SSASs) and self-invested pension plans (SIPPs).
Introductory guide to sustainable finance and ESG for finance lawyersThis Practice Note is intended as an introductory guide to sustainable finance for transactional banking and finance lawyers. It also provides an overview of the regulatory environment around sustainable finance.Detailed
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