The Port of Newcastle (PON) in New South Wales has secured a A$515m sustainability-linked loan from National Australia Bank (NAB) that incentivises Port of Newcastle by offering a lower margin on debt if it hits targets across a range of social and environmental metrics.<\/p>\n
Port of Newcastle CEO Craig Carmody said this loan had created a way for the port to align its financing with long-term environmentally and socially responsible projects.<\/p>\n
\u201cNAB is helping Port of Newcastle through financial innovation. This will in turn help create a more diverse and sustainable port in the future, supporting opportunities for jobs and economic growth in the Hunter region,\u201d Mr Carmody said. \u201cOur thinking must be in decades, not months or years. That means building new economic opportunities for Newcastle. What is good for the port is also good for the economy.\u201d<\/p>\n
This is the first sustainability-linked financing by an Australian seaport and the first such loan in Australia to include a modern slavery assessment metric addressing all of the borrower’s suppliers.<\/p>\n
The other four metrics focus on emissions reduction, mental health first aid, diversity and inclusion and achieving certified recognition against the NSW Government Sustainability Advantage Scheme.<\/p>\n
The sustainability-linked loan was part of a broader A$666m refinancing facility for Port of Newcastle funded by a consortium of lenders. It included A$595m in 2.5-year and 5-year funding and up to A$50m in new green lending that will fund growth initiatives aimed at green building projects and diversifying the port\u2019s revenue base.<\/p>\n","protected":false},"excerpt":{"rendered":"
Financing and sustainability have been paired by an Australian port with green ambitions.<\/p>\n","protected":false},"author":8,"featured_media":1424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34],"tags":[],"sponsor":[],"class_list":["post-1423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-greenport"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/1423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=1423"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/1423\/revisions"}],"predecessor-version":[{"id":1425,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/1423\/revisions\/1425"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media\/1424"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=1423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=1423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=1423"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=1423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}