A sustainability-linked loan (SLL) supported by NAB is encouraging social infrastructure owner Arena REIT to reduce greenhouse gas emissions, increase adoption of rooftop solar and strengthen its management of modern slavery risks.
NAB was engaged by Arena REIT as a Joint Sustainability Coordinator to assist with developing its Sustainable Finance Framework and structuring its first SLL.
Arena REIT is an ASX200 listed business that develops, owns and manages social infrastructure properties across Australia with a portfolio of more than 250 properties across the childcare and healthcare sectors. The SLL supported by NAB allows Arena REIT to align its sustainability priorities to its financing, with financial implications based on achieving or missing key goals.
NAB Global Head of Sustainable Finance, David Jenkins said NAB was proud to support Arena REIT with achieving its sustainability goals.
“By linking its cost of borrowing to sustainability performance targets, Arena REIT is making a tangible commitment to reduce its greenhouse gas emissions, increase the installation of rooftop solar across its properties and strengthen its management of modern slavery risks,” Mr Jenkins said.
“On top of that, it is great to see Arena REIT recognises the opportunity to build stronger relationships with customers and suppliers based around their shared values, which are reflected in each of the sustainability performance targets.”
NAB has been at the forefront of the development of green, social, sustainable and sustainability-linked financing solutions, working to support our clients with their decarbonisation and sustainability ambitions.
