Finance Solutions for Nature 2025

Examples of sustainability-linked loans and thematic loans BOX 5 Iberdrola and BBVA SLL (2022) – ~$2.6 billion54 Focus: Reducing water footprint in renewable energy generation Iberdrola secured the world’s first syndicated SLL explicitly linked to a water footprint target. The interest margin is tied to reducing water withdrawals for power by 50% by 2030 and improving its CDP water score. BBVA acted as sole sustainability coordinator in a 24-bank revolving, syndicated credit facility. One Raffles Quay and DBS SLL (2025) – ~$900 million55 Focus: Lowering emissions and water use in real estate This SLL supports sustainability upgrades at a Green Mark Platinum-certified office complex in Singapore. The borrower has committed to cutting energy and water footprints by 20–29%. It is among the first SLLs in the country linked to a single asset. Tornator Oyj Green Bank Loan (2020) – €350 million56 Focus: Sustainable forest management and biodiversity Tornator Oyj, a Finnish forestry company, secured this green loan from Nordic banks to finance FSC- and PEFC-certified forest assets. The proceeds support biodiversity, carbon sequestration and climate-smart forestry. The facility was refinanced and extended in 2024.57 Finance Solutions for Nature: Pathways to Returns and Outcomes 19