06 February 2023
Angus Knight today is pleased to announce that they have aligned their corporate debt facility with the Asia Pacific Loan Market Association (APLMA)’s Social Loan Principles and Angus Knight’s Social Loan Framework.
In aligning with the APLMA’s Social Loan Principles, Angus Knight has demonstrated that at the core of its services it supports social good, through the provision of employment, community, and education services.
In achieving the social loan label for their corporate facility Angus Knight has further underlined its sustainability credentials and ultimately its commitment to empowering individuals.
Angus Knight Group CEO, Nic Fairbank said:
“We are proud of achieving social loan status on our corporate debt facility. The social loan demonstrates the social impact of the many services Angus Knight provides and underlines our principle of committing to empowering individuals.”
About social loans
Social loans are a type of Use-of-Proceeds sustainable finance product used to support projects and activities that address a social issue or achieve positive social outcomes for certain populations, particularly underserved, marginalised, and vulnerable groups.
Angus Knight’s social loan supports eligible projects covering employment generation, access to essential services (health and healthcare), and socioeconomic advancement and empowerment. The net proceeds from the social loan will be used to finance or refinance funds related to delivering social services by Angus Knight to a range of target populations including those with disabilities, the unemployed, First Nations people and vulnerable groups.
To achieve the social-labelled corporate debt facility, Angus Knight demonstrated that its provision of employment, community and education services clearly aligns with social projects supporting a range of target populations.
Commonwealth Bank (CBA) acted as sole social loan coordinator and was the primary lender to the social loan facility. A Second Party Opinion was provided by DNV.
Jane Thomson, General Manager Corporate Finance and ESG at CBA, said:
“We’re excited to support Angus Knight with an innovative financing structure that recognises the social purpose of the organisation and its important work in delivering sustainable employment outcomes across the communities in which it operates.”
“This transaction continues the development of Australia’s sustainable finance market and reflects the strong interest CBA is seeing among its business bank clients who are keen to learn about the role that sustainable finance can play in helping them to advance their ESG commitments,” Thomson said.
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About Angus Knight Group
Angus Knight is a group of businesses working together to empower individuals, organisations and communities through innovative employment, training, and community solutions.
We operate in more than 200 locations in Australia, Sweden, Canada, and the UK, servicing diverse markets across the government, corporate, First Nations and community sectors. Angus Knight combines customer-focused insights with productivity prowess to empower clients to meet their full potential.
Co-founded in 1991 by Duncan Angus, the Angus Knight Group has helped more than 1 million people realise their potential over the past three decades.