Hotel and shopping mall group Majid Al Futtaim will use the proceeds from its new $1.5bn sustainability-linked loan to target emissions, green malls and, in a first for the Middle East, gender inequality. Head of treasury John Arentz provides the details.
Most newest results
The Togo-based group expects its debut sustainable bond and new sustainable finance framework to help it adopt a more climate-friendly strategy and expand SDG-aligned funding across the continent, says chief risk officer Eric Odhiambo.
Highly polluting companies need trillions of dollars of funding to reduce their carbon emissions. Transition bonds are mooted as one solution, but investors are far from convinced.
Regulations forcing British companies to disclose details of their gender pay gaps are having a positive impact, but some lobby groups feel they should go further.
The company's top sustainable finance bankers acknowledge the sector is guilty of not “driving enough capital” to reach net-zero targets, but say huge structural issues are a barrier for change.