DEALS Supporting Sustainable Commercial Property Finance Solutions Absa | Corporate and Investment Banking > Insights and Events > Supporting Sustainable Commercial Property Finance Solutions SHARE We are pleased to have acted as Lender and Sustainability Coordinator for Vukile Property Fund Limited’s R1.1 Billion green and sustainability-linked loans. Vukile Property Fund Limited is a specialist retail Real Estate Investment Trust (REIT) with a geographically diversified portfolio of retail property assets across South Africa and Spain. Vukile’s approach to sustainability is ingrained into its culture with transparent measurement and reporting of sustainability targets to ensure alignment of its ESG strategy throughout the organisation. This supported the efficient and creative funding solution with Absa, which promotes greater alignment of Vukile’s financial strategy to positive environmental and social outcomes. By incorporating essential Key Performance Indicators, Vukile will not only drive economic growth but also promote environmental stewardship and social well-being within the communities they operate in. The selected KPIs will contribute to reducing the carbon footprint of its South African portfolio; the efficient use of water throughout its South African portfolio, which is especially relevant given South Africa’s looming water crisis; and facilitating greater formal employment for qualified youth in South Africa. As one of the only REITs with a sustainability-linked loan featuring KPIs tailored to addressing South Africa’s youth unemployment woes, this facility will evidence that Vukile acknowledges its corporate social responsibility to addressing the key socio-economic challenges South Africa faces. We are excited to support Vukile on this journey. In our role as sustainability coordinator, we ensured that achievement of the KPIs would result in measurable positive environmental and social outcomes, which are material for Vukile and society at large. We applied our knowledge of the client and the environment in which the client operates to deliver a fit-for-purpose solution that will propel Vukile and South Africa towards their sustainability goals. Contact Heidi Barends for more information https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Empowering African Aviation to Soar Higher Absa Corporate Investment Banking enables strategic fleet reintegration and regional expansion for AELF and SAA with a USD 31 million aircraft refinancing solution. Read more DEALS Energising Progress with Africa’s Largest Standalone Battery Facility We are proud to have played a pivotal role in one of Africa’s most significant energy milestones: the Red Sands Battery Energy Storage Project which is set to become the continent’s largest standalone battery energy storage facility to date to move towards construction. Read more DEALS Supporting expansion in SA’s healthcare property market Absa CIB partners with Growthpoint Healthcare Property Holdings on a R950 million facility to finance healthcare infrastructure. Read more