Crédit Agricole CIB has issued its first sustainability-linked loan financing bond using its SLLB framework.

The SLLB worth JPY 3 billion has been issued with Sumitomo Life Insurance Company and uses CA’s framework that promotes SLL best market practices by fully disclosing eligibility criteria.

Crédit Agricole says the framework is designed to foster best-in-class practices ensuring transparency in the evaluation and selection process of eligible SLLs. It is the first framework of the market which includes an “ESG Performance Index” listing all sectoral KPIs and related sustainable performance targets used by eligible SLLs.

Crédit Agricole has commissioned ISS-Corporate to review the framework’s alignment with best market practices, as well as to assess the materiality and ambition of selected eligible KPIs and SPTs. ISS also evaluated the transactions’ eligibility criteria against Crédit Agricole CIB’s overall ESG profile and strategy.

Tanguy Claquin, Global Head of Sustainability, Crédit Agricole CIB, said, “This framework illustrates Crédit Agricole CIB’s commitment to help clients on their decarbonisation journey, while providing investors with tools to encourage sustainability. The framework sets new standards for transparency and ambition in the SLL market, in line with the recent ICMA Sustainability-Linked Loan Bond guidelines, which we helped to coordinate. It’s the first SLLB framework where SLL eligibility criteria are disclosed in a detailed manner and reflects the Bank’s continuous dedication to Sustainable Finance, as a useful tool for the global sustainability agenda.”

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