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Under the arrangement, BNP Paribas will offer revolving credit lines to Ant Group that come with a 'two-way interest rate adjustment mechanism' tied to a number of the Company’s SPTs (Sustainability Performance Targets). Each year, the bank will verify the SPTs using Carbon Matrix, AntChain’s enterprise carbon management SaaS (software-as-a-Service) product, which is built on blockchain.
CG Lai, CEO of BNP Paribas China, comments: "Sustainability is deeply embedded across all aspects of BNP Paribas, from our long-term strategy to everyday operations, and Ant Group is an avid advocate for ESG development globally. Our similar vision for a sustainable future has laid the foundation for more joint achievements and innovations across sustainable finance in the future."
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