Leading credit ratings, benchmarks and analytics provider S&P Global announced today that it has entered into a $1.5 billion sustainability linked banking facility, with terms tied to the company’s environmental sustainability goals.

According to the company, the new facility is the first of its kind in the in the U.S. media and information services sector.

The new banking facility is tied to S&P Global’s sustainability goals through a pricing adjustment that has been linked to linked to the Company’s goals to reduce greenhouse gas emissions, which have been verified by the Science Based Targets initiative (SBTi). S&P Global’s emissions reduction commitments include a 25% reduction in emissions by 2025 from a 2019 base year, including both absolute scope 1 and 2 emissions from operations as well as absolute scope 3 emissions from business travel.

Ewout Steenbergen, Executive Vice President and Chief Financial Officer of S&P Global, said:

“Linking our line of credit to SBTi-verified targets makes tangible S&P Global’s commitment to becoming net-zero by 2040. This facility will further incentivize S&P Global to achieve its ambitious goal of reducing our greenhouse gas emissions, support a net-zero economy and reinforce our commitment to sustainable corporate citizenship.”

JPMorgan acted as Sustainability Structuring Agent and Administrative Agent for the new banking facility, with other Joint Lead Arrangers and Joint Book Runners on the transaction including Bank of America as Syndication Agent, Citibank, Deutsche Bank, HSBC, Mizuho Bank, and Morgan Stanley MUFG Loan Partners.