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Commonwealth Bank Joins Green Repo Market With Northern Trust

  • Australian bank signs $36 million deal with Chicago firm
  • CBA takes step toward A$70 billion sustainable lending goal

Commonwealth Bank of Australia is joining the green repo party, striking a A$50 million ($35.9 million) deal with Chicago-based wealth manager Northern Trust Corp. as it inches toward a sustainable lending target of A$70 billion by 2030.

The transaction, although small, is “another building block in CBA being able to fund a green balance sheet,” Chris McLachlan, acting executive general manager for global markets said in an interview. “Sustainability and ESG come up in every client conversation we have and this type of innovation is about helping to facilitate the transition.”