Frasers Property reaches 86% in sustainable financing for Australian platform
Frasers Property Australia has secured a new combined $600 million sustainability-linked loan and revolving credit facility (SLL), lifting the proportion of total green financing facilities for Frasers Property Limited’s Australian platform to an industry-leading 86 per cent.
The five-year SLL substantially increases the proportion of funds Frasers Property has sourced from sustainability-linked sources, which at the end of the company’s FY21 (to 30 September 2021) stood at 53 per cent.
“With the finalisation of this new sustainability-linked loan, Frasers Property’s Australian platform is now 86% financed by green loans in line with our broader sustainability approach. This achievement reinforces the wider market’s recognition of the environmental and social sustainability credentials of the projects in our pipeline, and our global leadership in the sustainability space,” Anita Hoskins, Chief Financial Officer, Frasers Property Australia says.
This new SLL is the fourth green / sustainable financing secured by the Group for its Australian platform since Frasers Property Australia secured its first green loan in March 2019, which at the time was the first corporate syndicated green loan in Australia.
Frasers Property’s operations in Australia are certified carbon neutral under the Australian Government’s Climate Active Carbon Neutral Standard. Frasers Property Australia has set net-zero carbon target in development and operation by 2028 under approved Science-Based Targets and has maintained a five-star GRESB rating since 2018. For its new developments in Australia, Frasers Property is aiming to achieve a five-star GRESB rating, with at least a four-star rating for its existing portfolio.
The full announcement can be read on Frasers Property Limited’s website.