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September 22, 2023
The Financial Times presented Cadwalader with ‘Impact and ESG' Award at the publication's Innovative Lawyer Awards Europe on September 21 in London.
The firm earned the award for advising the Loan Market Association (LMA) on the creation of model provisions for Sustainability-Linked Loans (SLL).
Since their introduction in 2019, SLLs have been seen as critical for mobilizing capital for transitioning and sustainable business models. However, market participants have required greater clarity on their terms to comply with the LMA’s sustainability-linked loan principles and ESG-related law and regulation whilst also addressing greenwashing risk and ensuring net positive impact.
The Cadwalader London team, led by partner Sukhvir Basran, used a powerful combination of banking and finance experience with an understanding of the ESG challenges facing market participants to develop the SLL model provisions with feedback from the LMA’s ESG Committee and CWT clients.
The LMA’s work on the SLL Model Provisions has been groundbreaking and a true demonstration of the power of collaboration in driving positive change. Since its release in May 2023, they have had an immense impact on the finance sector with more than 800 institutions using the SLL model provisions.
The SLL model provisions are cited by the FT award as a tool that will drive the growth and development of sustainable finance in both developing and developed markets.
Since 2005, the FT Innovative Lawyers Awards have been considered among the legal profession's most highly regarded award programs.