In brief: ICG doubles down on ESG-linked credit

London-listed private funds manager ICG has agreed a €1.45 billion ESG-linked subscription credit facility for its eighth European private debt fund, the firm said in a statement this morning. ICG is currently raising Fund VIII with a target of €7 billion.

Standard Chartered Bank was the lead arranger. BNP Paribas, ANZ Banking Group, ING Bank and Royal Bank of Canada are the other lenders.

This is not ICG’s first foray into credit facilities with ESG links. The firm announced earlier this year that it had secured a £550 million ($751 million; €620 million) revolving credit facility linked to carbon emissions targets and the integration of climate risk assessments into its investment decisions.

• Read a February Q&A with ICG’s treasurer and responsible investment officer on ESG-linked finance