In the same week the Trump administration formally notified the United Nations that the United States is withdrawing from the Paris climate agreement, luxury goods group Prada announced it had inked its first sustainability linked loan agreement with Crédit Agricole. Prada joins a growing number of companies around the world in sectors ranging from chemicals to industrials to food and agriculture to real estate who have tapped into a growing market for “green capital.”
According to Bloomberg, the market for sustainable debt products reached $247 billion in 2018. $36.4 billion of that debt comprised sustainability linked loans. And market analysts expect that number to grow considerably in the foreseeable future.
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