10 December 2020, London – BNP Paribas has agreed a £50mn sustainability-linked revolving credit facility with Metropolitan Thames Valley (MTVH), one of the UK’s largest housing associations. The three-year facility is believed to be the first Risk Free Rate (RFR) sustainability-linked loan in the sector.
The facility’s interest margin is tied to MTVH achieving environmental targets of reducing greenhouse gas (GHG) emissions linked to energy consumption from both its offices and transport, as well as its residential portfolio. The measured GHG emission reduction values – corresponding to the preceding financial year – are reported.
MTVH has transitioned the facility away from LIBOR (which is due to cease at the end of 2021) with multiple interest periods linked to the Sterling Overnight Index Average (“SONIA”) for GBP.
“We’re committed to supporting the decarbonisation of social housing in the UK, and this innovative loan with BNP Paribas is one of the ways in which we’re playing our part. By meeting sustainability targets to help fund our business we can cut the cost of our debt, further build our financial strength and free up more funds to achieve our ambition of providing more affordable homes and supporting our residents and customers to live well,” says Donald McKenzie, Director of Corporate Finance at MTVH.
MTVH has implemented measures including installing energy efficient technologies, aligning supplier environmental targets to a sustainable procurement policy and operational climate footprint monitoring. MTVH has a progressive carbon emissions reduction strategy and discloses both Scope 1 (direct) and Scope 2 (indirect) carbon emissions.
“MTVH has demonstrated that funding structures, commercial strategy and the demands of the climate crisis need not be at odds. As an active member of the Coalition for the Energy Efficiency of Buildings, BNP Paribas knows that decarbonising the built environment is essential for achieving net zero in the UK. In MTVH we found a partner whose understanding matches our own,” says Anne Marie Verstraeten, BNP Paribas UK Country Head.
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Notes to editors:
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 71 countries, with approximately 199,000 employees, of which more than 151,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
About MTVH
Metropolitan Thames Valley (MTVH) is one of the UK’s largest housing associations, providing affordable homes, and care and support services. It owns, manages or administers around 57,000 homes across London, the South East, East Midlands and East of England.
MTVH was formed in October 2018 when Metropolitan and Thames Valley Housing came together as a new group. It is a member of the National Housing Federation and the g15, which represents London’s largest housing associations and houses one in ten Londoners. MTVH believes everyone should have a home and the opportunity to live well.
MTVH corporate website is mtvh.co.uk and you can follow on Twitter @MetTVH
For more information contact:
Lee-Anne Smith +44 07702 532951 Lee-Anne.Smith@mtvh.co.uk
Hugh McCafferty +44 7738 714102 Hugh.McCafferty@mtvh.co.uk
Sarisher Mann (UK) +44 7469 403 542 Sarisher.Mann@uk.bnpparibas.com
BNP Paribas is proud to launch Net Zero, a six-month UK partnership with Tech Nation, a growth platform for tech companies and leaders. Net Zero aims to nurture fast-growth tech companies that will help the UK reduce greenhouse gas emissions.
The tech sector will play a pivotal role in tackling the climate crisis. Pioneering early-stage scale-ups will contribute to net zero directly through emission-reducing and carbon-capture technologies, as well as indirectly through changing consumer behaviour, and increasing efficiencies. Key sectors that stand to benefit include energy, transport, agriculture, manufacturing, building technology and many others.
As one of the world’s pre-eminent banking groups, headquartered in Europe and with a major presence in the UK, BNP Paribas is at the forefront of digital technology and is a world leader in sustainable finance. We work closely with startups and fintechs to establish new ways of working and to deliver the best possible customer experience.
BNP Paribas’ mission is to contribute to a sustainable economy through the provision of financing and advisory services according to the highest ethical standards and in line with the UN SDGs. We offer secure and innovative financial solutions to individuals, corporates and institutions, including support for the energy transition and cleantech startups, while striving to address the big challenges of today. And there are no bigger challenges today than the environment, local development and social inclusion.
“Supporting Net Zero in the UK requires collective mobilisation, and clean tech solutions are a vital part of accelerating the energy transition,” says Anne Marie Verstraeten, UK Country Head, BNP Paribas. “As a bank supporting the transition to a low-carbon economy, we have a responsibility to connect our ecosystem of clients and the innovative startups at the forefront of developing technologies that tackle environmental challenges. This partnership with Tech Nation highlights the power of coalitions that is essential to scaling up climate action and creating a fairer, greener and more resilient world.”
BNP Paribas was named Euromoney’s Best Bank for Corporate Responsibility 2020, Western Europe; Environmental Finance’s Lead Manager of the Year for Corporate Green Bonds 2020; and The Banker’s Most Innovative Investment Bank for Climate Change & Sustainability 2019
Click here to read the Executive Summary of the Tech Nation Net Zero Report 2020.
The sustainability linked structure is based on Clarion’s efforts to tackle unemployment among its residents
London, 30 January, 2020 – The UK’s largest housing association, Clarion Housing Group, announced it has recently secured a new 5-year £100 million revolving credit facility provided by BNP Paribas. The facility is structured as a sustainability-linked loan (SLL) where the margin is linked to Clarion achieving certain Social Key Performance Indicators (Social KPI).
The Social KPI measured is the number of people Clarion supports to find employment as a result of the Clarion Futures Jobs and Training programme. The success of the metric is measured during the immediate preceding financial year. Clarion will benefit from a lower interest rate margin on the loan, if it helps an agreed number of residents into employment.
The Clarion Futures Jobs and Training programme is delivered as part of Clarion Futures, the Group’s charitable foundation. It plans to invest £150 million over ten years to provide support, skills and opportunities to over 350,000 social housing residents across the UK. The SLL will be used to fund Clarion’s delivery of much-needed new homes.
Gareth Francis, Director of Treasury and Corporate Finance at Clarion, said: “Our successful jobs and training programme is the largest of its kind and last year helped over 4,000 people into employment. It is fantastic that banks such as BNP Paribas are recognising the impact of this work and providing funding at a lower interest rate, the savings from which we will reinvest back into providing new affordable homes and improving the lives of our residents. ”
David Reynolds, Senior Banker, UK Coverage, BNP Paribas, said: “The sustainability-linked loan mechanism is a powerful tool to support companies, communities and banks in applying innovation to tackle social and economic challenges, such as unemployment. This will be BNP Paribas’ fourth SLL in the sector. Almost half a million young people aged 16–24 are currently unemployed in the UK*, and finding innovative approaches to tackle this through collaboration between organisations is an important part of progressing sustainable development in the UK”.
* https://researchbriefings.files.parliament.uk/documents/SN05871/SN05871.pdf
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Press Contacts:
BNP Paribas
Alexandra Umpleby +44 20 7595 2436 Alexandra.Umpleby@uk.bnpparibas.com
Sarisher Mann +44 20 7595 8150 Sarisher.Mann@uk.bnpparibas.com
Clarion
Lucy Pond +44 207 378 5555 Lucy.Pond@clarionhg.com
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets, International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors.
BNP Paribas employs more than 9,000 people across 10 business lines in the UK. These include Corporate & Institutional Banking, Exane BNP Paribas, Leasing Solutions, Arval, Real Estate (including Strutt & Parker acquired in September 2017), Asset Management, Cardif Pinnacle, Commercial Finance, Personal Finance and Vauxhall Finance. Around half of its employees are in Corporate & Institutional Banking, based in London, while the others are based in various offices across the country, including Belfast, Birmingham, Cardiff, Glasgow, Manchester.
https://www.bnpparibas.co.uk/en/
About Clarion Housing Group
Clarion Housing Group is the UK’s largest provider of affordable housing. We are committed to playing our part in tackling the housing crisis, both as a social landlord and developer of new housing.
More than 350,000 people call a Clarion home their home. Our mission is to provide and maintain good quality housing for our residents and to build communities through high quality design and placemaking.
We are a social business, reinvesting our profits into building new homes and providing support and opportunities to our residents through Clarion Futures, our charitable foundation.
www.clarionhg.com
BNP Paribas’ ClimateSeed is one of the six accepted carbon offsets programs in IFC’s Zero Carbon Green Buildings certificate under the IFC Edge program. To certify their buildings Zero Carbon, real estate developers first reduce their buildings’ emissions through green building practices and can then offset any remaining emissions through ClimateSeed. Building developers can choose from over 30 projects available on the ClimateSeed platform by project location, type or SDGs targeted.
Until human-induced net greenhouse gas emissions are eliminated altogether, the concentration of CO2 in our atmosphere will continue to rise, making it impossible to halt global warming. Buildings and construction are responsible for 39% of all carbon emissions in the world. Carbon neutrality is a prerequisite to stabilizing global temperatures and cities will have to accelerate their efforts to be able to meet their Paris targets and even exceed them to limit warming to 1.5°C.
Designing and managing urban areas has become one of the most important development challenges of the 21st century. Globally, about 60% of the area to be urban by 2030 remains to be built. According to the UN, Cities consume over 2/3 of the world’s energy and account for more than 70% of global CO2 emissions. IFC (World Bank Group) estimates a cumulative investment opportunity of $29.4 trillion by 2030 in emerging market cities.
IFC has expanded its Edge certification program to include Zero Carbon buildings, enhancing the positive impact on the climate, where building developers reduce building emissions as much as possible through energy efficiency and sourcing renewable energy, and then offset the remaining unavoidable emissions by contributing to sustainable projects. ClimateSeed provides building developers with a variety of carbon-reduction projects to offset their unavoidable emissions. These projects have gone through a three-step due diligence process to ensure high quality. The projects have been certified by international standards such as VCS or Gold Standard, the project developers have undergone a strict banking due diligence and lastly, the projects have been reviewed and validated by a sustainability committee, comprised of industry experts. All the projects on ClimateSeed avoid or capture CO2, and also contribute to the achievement of the United Nations Sustainable Development Goals.
Air filters cut PM2.5 by up to 85%, NO2 levels by up to 70%, in support of BreatheLife, the global campaign for clean air
London, 12 November 2019 – BNP Paribas today unveiled the next phase of its pioneering ‘clean air zones’ campaign at London Marylebone Station, working in partnership with JCDecaux UK, Airlabs and Chiltern Railways for a second year.
The positive impact advertising solution, which incorporates air-cleaning technology within advertising structures, is supporting the global ‘BreatheLife’ campaign for clean air. BreatheLife’s growing network includes more than 70 cities, regions and countries, reaching over 288 million people. The campaign’s goal is to mobilise communities to reduce the impact of air pollution on health and climate.
The BreatheLife campaign principles align closely with BNP Paribas’ own sustainability objectives, which have a clear community focus. London Marylebone Station was chosen for the filter installation due to its direct proximity to BNP Paribas’ UK headquarters, underpinning with practical action the bank’s commitment to making a positive impact within the local community.
The air cleaning technology from Airlabs was first unveiled in October 2018. The filters reduce up to 85% of PM2.5, 86% PM10 and up to 70% gases like NO2 and ozone from the area immediately surrounding the filters, which are housed within specially adapted advertising units from JCDecaux UK. In a twelve-month period, the air filters have produced 41.4 million cubic metres of clean air, enough to fill Wembley Stadium 36 times.
Anne Marie Verstraeten, UK Country Head, BNP Paribas Group, said: “BNP Paribas is committed to London and to helping provide immediate, positive impact for our local communities. The Clean Air Zone partnership enables us to continue to deliver cleaner air to more than 14 million station users every year, which include our employees, clients, commuters and the local community. As well as helping to reduce the impact of air pollution, we want to raise awareness of this silent killer, and that’s why we are supporting the BreatheLife campaign, which is so aligned to our own corporate values.”
Helena Molin Valdés, Head of the United Nations Environment Programme hosted Climate and Clean Air Coalition Secretariat said: “These types of initiatives are important to raise awareness that more needs to be done to improve air quality in order to protect human and health and our climate. Cleaning the air is one solution and should remind everyone – from individuals to businesses and local and national governments—that they have a role to play in stopping air pollution at its source.”
Helena Kavanagh, Chief Partnerships Officer at JCDecaux UK said: “We are very proud of the partnership with BNP Paribas, Chiltern Railways and Airlabs which led to this ground-breaking advertising solution, and it is excellent news that it will continue for another year. The air filters, incorporated within Out-of-Home advertising structures, are another example of how Out-of-Home media can provide a service to the community as well as a clear communication channel raising awareness of important issues – in this case, the BreatheLife campaign – in front of the millions of rail users who pass through London Marylebone Station every year.”
Marc Ottolini, CEO at Airlabs said: “We are delighted that our air filtration technology is being used in this impactful way. Millions of people are using public transport in London every day. Our mission is to provide all of these people with clean air during their journey. The Clean Air Zones at Marylebone Station show that this can be turned into reality. Our partnership with BNP Paribas, Chiltern Railways and JC Decaux is a great example of the difference like-minded businesses can make to the lives of millions of people affected by air pollution every day.”
Press Contacts:
BNP Paribas
Alexandra Umpleby (UK) +44 20 7595 2436 Alexandra.Umpleby@uk.bnpparibas.com
Sarisher Mann (UK) +44 20 7595 8150 Sarisher.Mann@uk.bnpparibas.com
Notes to Editors:
About BNP Paribas: BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 72 countries, with more than 202,000 employees, including around 149,000 in Europe. The Group has key positions in its two main activities: Retail Banking & Services and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors.
BNP Paribas has a well-established and growing UK platform. The bank has served the UK economy for more than 150 years and today employs more than 9,000 people, based in 21 core locations throughout the country, across 10 business lines. These include Corporate & Institutional Banking, Exane BNP Paribas, Leasing Solutions, Arval, Real Estate, Asset Management, Cardif Pinnacle, Commercial Finance, Personal Finance and Vauxhall Finance.
https://www.bnpparibas.co.uk/en/
BNP Paribas UK on Twitter – @BNPParibasUK
About BreatheLife: https://breathelife2030.org/
£75m sustainability-linked loan incentivises affordable childcare programme
London 14 August 2019 – UK Housing Association Peabody Trust has secured a new 5 year £75 million revolving credit facility provided by BNP Paribas.
The facility is structured as a sustainability-linked loan (SLL) where the interest rate is tied to Peabody meeting social impact-based key performance indicators.
Under the terms of the agreement, Peabody will benefit from a lower interest rate margin on the loan if it delivers an agreed number of accredited childcare qualifications under their Childcare Training Programme. This target rises incrementally over the 5 year life of the loan.
Peabody will draw on the loan for general corporate purposes in their mission to provide affordable housing and will reinvest interest rate savings into the Peabody Community Foundation (PCF), which benefits thousands of Londoners every year and meets several UN Sustainable Development Goals (SDGs), including no poverty (SDG1), decent work and economic growth (SDG8), reduced inequality (SDG10), Sustainable cities and communities (SDG11), and partnerships (SDG17).
The loan is part of BNP Paribas’ programme of responsible investment in the UK social housing sector, generating sustainable returns and adding social value in its area of operations. Like Peabody, BNP Paribas has operated in the UK since the 1860s and both are committed to aligning their businesses to the UN SDGs.
Susan Hickey, Chief Financial Officer at Peabody said:
“We know that the lack of flexible, affordable childcare in London is a major problem. It leads to lower rates of employment, disproportionately affecting mothers, and contributes to unacceptable levels of inequality and child poverty. Many working people find themselves burdened by debt from expensive childcare costs. Alongside BNP Paribas, we are determined help tackle this issue in our communities. This loan facility will contribute to our wide-ranging activities including delivering the low-cost homes that are desperately needed. But the savings we’ll make on interest payments by facilitating affordable childcare will be directly invested into the Peabody Community Foundation. Innovative funding arrangements like this are a win-win for people living in our neighbourhoods. We’re pleased to be working with the investor community to maximise our impact in helping people prosper.”
David J Reynolds, Global Banking BNP Paribas said:
“As an independent not for profit sector, Housing Associations have a long standing philanthropic social housing legacy dating back to the 19th century. In recent years, the role of private finance in the sector has grown significantly and in the last 12 months has evolved to include, for the first time ever, structures linked to social purpose. BNP Paribas has had the privilege of working with three UK Housing Associations to provide liquidity through individually tailored SLL’s. Peabody is the first to use a Childcare metric while L&Q and Optivo were both linked to employment. For us, this is about partnering with Housing Associations for the long term and supporting their continued drive to improve residents’ and communities’ quality of life, health and wellbeing”
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Press Contacts:
BNP Paribas
Alexandra Umpleby +44 20 7595 2436 Alexandra.Umpleby@uk.bnpparibas.com
Sarisher Mann +44 20 7595 8150 Sarisher.Mann@uk.bnpparibas.com
Notes to Editors:
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets, International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors.
BNP Paribas employs more than 9,000 people across 10 business lines in the UK. These include Corporate & Institutional Banking, Exane BNP Paribas, Leasing Solutions, Arval, Real Estate (including Strutt & Parker acquired in September 2017), Asset Management, Cardif Pinnacle, Commercial Finance, Personal Finance and Vauxhall Finance. Around half of its employees are in Corporate & Institutional Banking, based in London, while the others are based in various offices across the country, including Belfast, Birmingham, Cardiff, Glasgow, Manchester.
Loan structure incentivises employment support and work-ready training for Optivo residents
UK Housing Association Optivo today announced it has secured a new five-year £50 million revolving credit facility provided by BNP Paribas. The facility is structured as a sustainability-linked loan (SLL) where the interest rate is tied to Optivo meeting social impact-based key performance indicators. There is an option to increase the size of the facility to £75 million, as well as extend the tenor.
Optivo will draw on the loan for general corporate purposes and will reinvest interest rate savings to help deliver employment support and work-ready training programmes to residents in Optivo households and communities.
Participants will benefit from a three-stage development approach based on an ‘end to end’ employment support pathway:
- Engagement, confidence building, information advice and guidance
- Pre-employment ‘work ready’ training
- ‘In work’ support training.
Employment opportunities include security, construction, beauty and hospitality sector jobs.
Under the terms of the agreement, Optivo will benefit from a lower interest rate margin on the loan if it delivers an agreed number of unemployed residents into work or supports them with work-ready training. This target rises incrementally over the five year life of the loan. Optivo will publish the outcome in the Group’s Annual Report.
Sarah Smith, Chief Financial Officer at Optivo, said: “Our full commitment is to building homes, making places and enhancing lives. We’re delighted BNP Paribas are joining forces with us to maximise our positive social impact.”
Simon Gates, UK Head of Corporate Coverage and Transaction Banking at BNP Paribas, said: “Ultimately, thanks to Optivo’s focus on employment, this sustainable linked loan is about getting people back into work, which is good for individuals, families, the economy and society. It’s a business model that BNP Paribas supports, with this deal being the second SLL we’ve structured in the UK Housing Association sector in the last 12 months.”
Pioneering positive impact advertising solution in partnership with JCDecaux, Airlabs and Chiltern Railways launches on United Nations World Cities Day
London, 31 October 2018 – Helping to mark United Nations World Cities Day (WCD) and its theme of ‘building sustainable and resilient cities’ and coinciding with the first WHO global conference on air pollution and health, BNP Paribas unveils today a ground-breaking green tech advertising solution that adapts traditional Out Of Home (OOH) advertising space to create four ‘Clean Air Zones’ that help tackle air pollution in Marylebone station, which is situated a stone’s throw away from BNP Paribas’ UK headquarters on Harewood Avenue.
The solution is the first of its kind to be installed in a UK train station and is the result of a partnership led by BNP Paribas with green-tech start up Airlabs, Chiltern Railways, and JCDecaux. It serves to help raise awareness of and support the UN Sustainable Development Goals (#3 Good Health & Wellbeing and #11 Sustainable Cities and Communities).
The positive impact advertising solution is powered by Airlabs’ technology that combines atmospheric chemistry and airflow engineering alongside a proprietary dual filter system combining nano-particles. This air filtration system sits within specially adapted OOH advertising units provided by JCDecaux. The result is the removal of >95% of PM2.5, PM10 and gases like NOx, SOx, CO2 and Ozone in the area immediately around the units, significantly improving air quality.
Anne Marie Verstraeten, UK Country Head, BNP Paribas said:
“BNP Paribas has integrated the UN SDGs into its business globally and as part of this is committed to developing solutions which contribute to the long-term sustainability of our cities. Where we have an opportunity to partner with our clients, start-ups and the local community to make an immediate, positive impact we should take it, and that’s just what we’ve done here. We hope that our employees, clients – many of whom use Marylebone station daily – and local community will benefit from the clean air zones.”
Satya Tripathi, UN Assistant Secretariat General, UN Environment said :
“Air pollution is a public health emergency causing seven million premature deaths annually. We therefore welcome BNP Paribas’s leadership and contribution to restoring clean air, a basic human right. Air pollution and climate change can seem insurmountable, but when the power of innovation is unleashed, and the private sector takes on its responsibility we can overcome these challenges for current and future generations.”
Philip Thomas, Co-Chief Executive Officer at JCDecaux UK said, “JCDecaux is delighted to be involved in BNP Paribas’ Clean Air Partnership alongside Airlabs and Chiltern, companies that share a commitment to sustainability, resulting in this exciting environmental initiative. This inspirational campaign delivers on three fronts – raising public awareness about the global issues of pollution, delivering cleaner air to the 14 million people visiting Marylebone station every year and providing a powerful communications’ platform for BNP Paribas. This campaign underlines the power of OOH to champion social causes and to make a difference to the travelling public.”
Sophie Power, co-founder of Airlabs said:
“The 40 official air quality monitoring stations in London only measure the air directly surrounding them. But what really matters to our health is the air that we actually breathe throughout our day – while commuting, working and at home. From our research, we know that there are air pollution hotspots across the transport network, where our clean air technology could be used to reduce exposure. However, these are not currently picked up by official monitoring stations. We need to do more to protect people in their workplace, as well as during their commute, which starts with understanding their exposure.”
Dave Penney, Managing Director of Chiltern Railways said:
“This exciting partnership with Airlabs, JCDecaux and BNP Paribas is a great opportunity for Chiltern Railways to continue to minimise our environmental impact and compliments the work we are doing to introduce hybrid trains to our network. Chiltern Railways takes seriously its role in reducing pollution and we believe this technology from Airlabs will provide a better environment for our passengers, neighbours and staff at Marylebone.”
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Press Contacts
| Alexandra Umpleby | alexandra.umpleby@uk.bnpparibas.com | +44 (0) 207 5955 2436 |
| Sarisher Mann | sarisher.mann@uk.bnpparibas.com | +44 (0) 20 7595 8150 |
BNP Paribas UK on Twitter – @BNPParibasUK
Notes to Editors
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets, International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors.
In the UK, BNP Paribas employs more than 9,000 people across 10 business lines. These include Corporate & Institutional Banking, Exane BNP Paribas, Leasing Solutions, Arval, Real Estate (including Strutt & Parker acquired in September 2017), Asset Management, Cardif Pinnacle, Commercial Finance, Personal Finance and Vauxhall Finance. Around half of its employees are in Corporate & Institutional Banking, based in London, while the others are based in various offices across the country, including Belfast, Birmingham, Cardiff, Glasgow, Manchester.
About JCDecaux
JCDecaux UK is the brand-first digital media company that is bringing new opportunities for our clients and partners, delivering 1 billion digital Out-of-Home ‘viewed’ impressions in every week. As part of JCDecaux, the world’s leading Out-of-Home company, the company is developing innovative solutions to environmental challenges, integrating sustainability into the fabric of its products.
The company has worked with over 200 world-renowned designers and architects to produce street furniture and advertising products that embody the city of tomorrow. All of our products are designed and built to meet the needs of our partners, our brands and the people who interact with them daily. JCDecaux UK is committed to providing a powerful brand-first environment for clients where accountability, measurability, viewability and brand safety are paramount – and has introduced BranDO, a brand-safe charter for digital Out-of-Home. For more information, visit jcdecaux.co.uk
About Airlabs
Airlabs is a pioneer in providing clean air to breathe in polluted cities. Its team of atmospheric chemists, airflow engineers and sensor specialists combine to understand air pollution, clean it and deliver that clean air for people to breathe. Airlabs’ unique nano-technology effectively removes all pollutants, including nitrogen dioxide and can be used to provide clean air zones across a city – from inside buildings to outside spaces.
The Airbubbl, Airlabs’ product which cleans the heavily polluted air inside your vehicle, launches 6th November, solving one of the key exposure risks of workers and commuters. Previous installations in London have included clean air bus shelters supported by the Body Shop, and the first clean air retail store – the Stella McCartney store on Bond Street.
About Chiltern Railways
Chiltern Railways operates commuter and regional rail passenger services from its Central London terminus at London Marylebone to destinations in Buckinghamshire, Oxfordshire and Warwickshire, as well as long-distance services to the West Midlands. Chiltern Railways is part of the Arriva group, one of the leading providers of passenger transport in Europe. Arriva employs more than 60,000 people and delivers over 2 billion passenger journeys across 14 European countries each year. For more information, visit chilternrailways.co.uk.
About the UN Sustainable Development Goals
The Sustainable Development Goals are the blueprint to achieve a better and more sustainable future for all.
https://www.un.org/sustainabledevelopment/sustainable-development-goals/
About UN World Cities Day
26 June 2018 – London, UK – L&Q, a UK regulated charitable housing association which provides accommodation for more than 250,000 people primarily across London and the South East, today announced that it has secured a new five year, GBP100m credit facility from BNP Paribas. The loan complements L&Q’s existing £5bn funding arrangements and will enable it to continue building quality, affordable homes for the most vulnerable in society.
Uniquely, the facility is structured as a positive incentive loan whose interest rate is tied to L&Q meeting certain social impact key performance indicators. Through its Independent Lives programme, L&Q undertakes capacity building by working directly with its residents and others in the wider community to develop their employability skills and find appropriate and sustainable jobs. Under the terms of the agreement, L&Q will benefit from an undisclosed discount on the margin of the loan if it succeeds in getting at least 600 unemployed residents back into work in the first year, rising by an additional 25 residents in each subsequent year.
The loan also includes an option to extend the term by two additional years, as well as the possibility of adding an environmental key performance indicator later in the life of the facility. This will supplement the existing discount available to L&Q if it meets the social impact target.
Waqar Ahmed, Group Finance Director at L&Q, said: “Everything that L&Q does begins with social purpose, and we believe that no one should be denied the opportunity to achieve their potential because of where they live.
“Through the L&Q Foundation we are investing £250 million to transform communities and help people lead independent lives. By forging strong relationships with partners, we are able to deliver even greater charitable outcomes.
“BNP Paribas is exactly the sort of partner we are looking for, and we are delighted to have completed this ground-breaking deal with them. The team at BNP Paribas share our sense of social purpose, and our combined vision is going to help hundreds more people into employment every year.”
In February 2017, BNP Paribas announced a new corporate social responsibility policy, designed to create a positive impact in society. By extending loans to corporates and developing sustainable investment products, the bank aims to contribute to the United Nations’ Sustainable Development Goals.
Simon Gates, UK Head of Corporate Coverage and Transaction Banking at BNP Paribas, said: “We are pleased to have closed this transaction with L&Q. It is the result of close collaboration to conceptualise and structure what represents a landmark deal for sustainable finance in the UK: to our knowledge, this is the first ever UK housing association loan that incorporates a concrete, positive impact metric.
“L&Q will be assessed on the actual impact realised in the community in terms of helping residents back to work. We think this is a watershed moment and we are honoured to support L&Q as it continues its essential work of building affordable, high-quality homes.”
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Notes to editors
About L&Q
L&Q is a regulated charitable housing association and one of the UK’s most successful independent social businesses. The L&Q Group houses around 250,000 people in more than 95,000 homes, primarily across London and the South East. L&Q’s vision is that everyone has a quality home they can afford, and we combine our social purpose with commercial drive to create homes and neighbourhoods everyone can be proud of. Our core tenure is social rented housing. On average, our residents living in these homes pay less than 50% of market rents, making them genuinely affordable for people on lower incomes.
We focus on the needs of our existing social housing residents by investing in their homes, local communities and services. We also create high quality homes for private rent, shared ownership and outright sale. In response to the housing and affordability crisis, we will build 100,000 new homes over ten years. Of these, 60,000 homes will be built or funded by L&Q, whilst a further 40,000 will come through partnerships. Crucially, at least 50% of these new homes will be genuinely affordable, with a target of 60% in London.
As a charitable organisation, our role goes beyond providing homes and housing services. We are a long-term partner in the neighbourhoods where we work. We hope to build aspiration, opportunity and confidence in our communities through our £250 million L&Q Foundation and our skills academy. Our care and support subsidiary, L&Q Living, also offers housing and other assistance to meet the evolving needs of older and vulnerable people in our society.
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets, International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors.
BNP Paribas employs more than 9,000 people across 10 business lines in the UK. These include Corporate & Institutional Banking, Exane BNP Paribas, Leasing Solutions, Arval, Real Estate (including Strutt & Parker acquired in September 2017), Asset Management, Cardif Pinnacle, Commercial Finance, Personal Finance and Vauxhall Finance. Around half of its employees are in Corporate & Institutional Banking, based in London, while the others are based in various offices across the country, including Belfast, Birmingham, Cardiff, Glasgow, Manchester.
Media contacts
| James Howell | JHowell@lqgroup.org.uk | + 44 (0)7921 361 856 |
| Andrew Achimu | andrew.achimu@uk.bnpparibas.com | + 44 (0)207 595 6647 |