Russell McVeagh has assisted Genesis Energy with the establishment of its Sustainable Finance Framework and a $100 million Sustainability Linked Loan with Westpac NZ.
The Framework sets out how Genesis intends to issue and manage sustainable debt on an ongoing basis to support the company’s sustainability objectives.
Genesis’ Sustainability Linked Loan incorporates targets focused on: reductions across all scopes of greenhouse gas emissions in line with the Paris Agreement to limit global warming to 1.5°C (verified by the Science Based Targets initiative); the development of renewable energy generation; and transformational education, training and employment opportunities for young people in Genesis’ local communities.
Genesis Energy (NZE:GNE) is a New Zealand electricity generation and electricity, natural gas and LPG retailing company.
The Russell McVeagh team was led by Banking and Finance senior associate Jesse Fairley (Picture), with assistance from solicitor Jessie Rao.
Law Firms: Russell McVeagh;
Clients: Genesis Energy Limited;