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Why SLLs matter now
Sustainability-linked loans (SLLs) tie a borrower’s cost of capital to meeting clear sustainability performance targets (SPTs). Unlike green bonds, funds aren’t earmarked; value comes from credible KPIs, transparent verification, and consequences for missing targets. In Canada, SLLs are gaining traction across mining, energy, and infrastructure, creating a real need for finance and ESG teams who can design, negotiate, and report on ambitious structures.
Canada’s proof points
Lundin Mining (US$2.55B SLL, May 2024). The company amended a US$1.75B revolver and an US$800M term loan to embed SPTs on Scope 1–2 emissions and social, science-based community engagement—co-structured by BMO, Scotiabank, ING, and CIBC. Margin adjustments hinge on performance versus SPTs, exactly how SLLs should work.
Banks building market depth. Scotiabank ranked among the top global bookrunners in sustainable loans and co-structured Lundin’s facility; awards coverage also highlights growing Canadian sustainable-finance activity across bonds and loans.
Bottom line: Canada isn’t just following global trends, its lenders and issuers are shaping credible SLL practice.
The accountability gap (and how to close it)
SLLs can underperform when KPIs are weak, “intensity” metrics mask rising absolute emissions, or verification is thin. A multi-newsroom investigation estimated $286B of SLLs flowed to high-emitting sectors from 2018–2023, flagging risks of greenwashing when targets aren’t robust or transparent. For practitioners, this is a call to design material, auditable, and time-bound SPTs, then report them clearly.
What “good” looks like:
- KPIs linked to core impacts (e.g., Scope 1–2 absolute reductions, verified community outcomes).
- Third-party verification and public reporting of methodology, baselines, and results.
- Pricing that moves meaningfully for both over- and under-performance.
- Alignment with recognized standards and disclosures (GRI, CSSB CSDS 1 & CSDS 2, ESRS/CSRD context for multinationals).
Skills Canadian teams need in 2025
Because SLLs sit at the intersection of treasury, sustainability, and legal workstreams, practitioners must connect strategy, data, and compliance:
- Strategy → Finance: Translate decarbonization roadmaps and community commitments into loan-grade KPIs/SPTs with strong baselines.
- Data → Disclosure: Build auditable data sets and assurance-ready narratives for lenders and public audiences.
- Policy → Practice: Understand Canada’s new reporting landscape (CSSB CSDS 1 & 2) and how it interfaces with GRI/ESRS so SLL disclosures are consistent across markets.
October training: get SLL-ready in three days
CSE’s Canada Certified Sustainability (ESG) Practitioner Program, Leadership Edition 2025 is tailored for Canadian professionals and directly addresses these needs. The October cohort offers a concise, practical path to mastering strategy, reporting, and finance linkages that underpin credible SLLs.
Dates & format: Live online sessions on October 23–24 & 27, 2025 (10 total live hours), plus guided coursework to reach 28 total program hours. You’ll have eight weeks of platform access for materials, and practical assignments to cement your plan.
What you’ll learn (selected modules):
- Legislation & disclosure: Canadian Sustainability Standards Board (CSSB) — CSDS 1 (General Requirements) and CSDS 2 (Climate-Related Disclosures)—alongside CSRD/ESRS context for cross-border filers.
- Strategy & ratings: Build an ESG strategy linked to stakeholders, risk, and performance; understand ratings impact and how SLL KPIs can reinforce ratings improvements.
- Reporting: Materiality and double materiality, GRI Universal Standards, and the steps for a high-quality sustainability report that lenders can trust.
Who should attend: ESG/CSR leads; finance, treasury, risk, procurement, and operations professionals; advisors and public-sector leaders who need hands-on tools to integrate SLL-ready metrics into strategies and disclosures.
Outcomes you can use immediately:
- A practical two-year action plan to align KPIs, data, and disclosure with lender expectations.
- Templates for stakeholder engagement, risk mapping, and KPI/SPT calibration.
- Networking with Canadian peers and cross-industry case exchanges.
Accreditations & certification: The program is recognized by CMI and CPD; CSE is an official GRI Training Partner. Successful completion earns the globally recognized Sustainability ESG Certification (with a Credly™ badge).
Dual pathways (optional): Add specializations—Carbon Reduction & Net Zero, Sustainable Supply Chain, ESG Reporting, SASB-TCFD, or Green Marketing—to deepen skills relevant to loan-grade KPIs and lender scrutiny.
Put it together: from targets to term sheets
When Canadian teams can evidence robust targets, consistent reporting (CSSB/GRI/ESRS), and verifiable outcomes, SLLs do what they promise: reward real performance and channel cheaper capital to credible transitions. This October cohort is designed to help you cross that last mile—turning ESG strategy into finance-ready KPIs and disciplined disclosure that withstands due diligence.
Ready to lead Canada’s next SLL?
- Learn more and enroll: CANADA | Certified Sustainability (ESG) Practitioner Program, Leadership Edition 2025 (Live sessions Oct 23–24 & 27): seats are limited.
- See the agenda (timings, modules, and assignment details).
For more information reach us at [email protected]
