Landmark Retail signs Qatar's first private-sector SLF with Mashreq: Our friends at Mashreq signed sustainability-linked facilities (SLF) with Landmark Retail in Qatar, marking the country’s first bilateral SLF agreement in the private sector, according to a statement (pdf).

The details: The facilities link the financing to Landmark Retail’s performance across sustainability indicators, including renewable energy, energy efficiency, responsible sourcing, waste reduction, and recycling. Landmark Retail plans to ramp up responsible sourcing by increasing the use of sustainably sourced cotton in its products, the statement reads.

Mashreq has a big sustainable finance target: The lender aims to facilitate USD 30 bn in sustainable finance by 2030 — part of a wider Climb2Change initiative that targets responsible banking products and services and social impact initiatives like the recently announced clean-up of Egypt’s Wadi Degla. The initiative aims to clean up 14 mountain sites around the world.

Not Mashreq’s first SLF: Last June, Mashreq and three Emirati banks led the financing of a USD 3.25 bn sustainability-linked loan for Gems Education, supporting Brookfield and its consortium’s acquisition of a majority stake in the school operator. Mashreq was the lead sustainability coordinator, initial mandated lead arranger and bookrunner, and global and conventional facility agent on the transaction, Mashreq’s Global Head of Investment Banking Chiradeep Deb told us in August.

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