BlackRock, Carlyle ESG Targets

BlackRock’s new $4.4 billion five-year credit facility ties lending costs to ESG targets. BlackRock is joining Carlyle Group in the emerging use of finance terms that encourage borrowers to meet ESG goals. Carlyle secured a $4.1 billion three-year facility from a consortium led by Bank of America in February.

“The ESG-linked credit facility enhances BlackRock’s commitment and accountability to achieving certain sustainability goals by integrating a component of financial alignment through our liquidity management strategy,” a BlackRock spokesman said.

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