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New finance framework for UK social housing group

26th April 2024

Clarion Housing Group has announced a new sustainable finance framework.

The UK housing association said the new framework aligns with the International Capital Markets Association principles on green, social and sustainable bonds, and the Loan Markets Association green and social loan principles.

Under the framework, Clarion will use proceeds raised from financing to invest in environmentally and/or socially impactful project. It is also set to publish a climate transition plan this year.

Earlier this month, Clarion agreed a new £150 million sustainability-linked facility with ABN AMRO Bank. It said the loan had a series of KPIs linked to its sustainability strategy and climate transition plan. Interest rate savings incurred by meeting KPIs will be used to support its charitable foundation.

Rutilio Merien, ABN AMRO’s head of UK coverage real estate, said: “The UK social housing sector faces challenges that go to the heart of society in terms of availability, quality and safety as well as reducing carbon footprint. ABN AMRO is proud to be able to play an active role in supporting Clarion and the sector.”

Clarion is the UK’s largest housing association, with 125,000 homes and an in-house development business, Latimer. New projects include a low-rise ‘garden community’ in Ealing, London (pictured above).

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