Pernod Ricard, the French spirits and wine company, has secured its first sustainability-linked loan (SLL) of €2.1 billion (US$2.3 billion) to refinance an existing facility expiring in June 2024. The credit facility is committed to by 22 banks, has an initial maturity of April 2028, and includes two one-year extension options. The facility is linked to two environmental commitments: reduction in absolute greenhouse gas emissions on operated sites and reduction of water consumption per unit produced at its distilleries. These commitments are included in the company’s 2022 Sustainability-Linked Financing Framework and address stringent sustainability challenges for the company and the industry. Pernod Ricard’s previous sustainability-linked bond issues in 2022 were also linked to these same performance indicators. Vanessa Wright, Chief Sustainability Officer at Pernod Ricard, said: “The Group’s recent sustainability-linked facility is another demonstration of our drive to reduce our environmental footprint and protect the natural ecosystems, where we source all the ingredients that make our iconic brands.” MainStreet Partners’ latest Green, Social, and Sustainability-Linked (GSS) Bonds Quarterly Market Trends report says GSS Bonds are successfully channelling capital into emerging markets, particularly for the objective of creating sustainable cities and communities, one of the UN Sustainable Development Goals (SDGs). The report found that over 60% of GSS Bonds issued in 2022 targeted one or more SDGs, nearly triple the amount compared to date from 2018. However, the report warns that there is still a funding gap of US$2.5 trillion to meet the SDGs.