Metrics Credit Partners became the first Australian non-bank asset manager to join the Climate Bonds Partnership Programme.
Metrics joins the big four banks, the Green Buildings Council of Australia and the Clean Energy Finance Corporation in the Climate Bonds Initiative's (CBI) programme.
Metrics' place in the partnership will see its endorsement of mobilising global capital for climate change solutions and support for the CBI's work on the development of the Climate Bonds Standard.
The Standard seeks to help investors choose investments that are consistent with Paris Climate Agreement to limit warming to under 2 degrees Celsius and has been applied by issuers of green bonds and borrowers of green loans in Australia.
|Sponsored by MLC Asset Management|
Find out why 44% of advisers are using managed accounts
Metrics said it will support the redirection of capital towards that goal by promoting green loan opportunities in the Australian market as borrowers participate in Australia's transition to a low-carbon economy.
"As the first non-bank asset manager in Australia to become a Climate Bonds Partner, Metrics is determined to play a leading role in promoting and assisting with the transition to a low carbon economy," Metrics managing director Andrew Lockhart said.
"Metrics is committed to developing financial practices and products that will provide our stakeholders with the means to achieve that transition in a just and timely manner. We are delighted to work with the CBI to expand the opportunities for green finance in Australia."
Metrics is one of the largest providers of private credit in Australia and since its establishment in 2011 it has provided more than $15 billion to borrowers across different industries.
"It's great to see a shift in Australia's commitment towards sustainable finance. Together, with the help of asset managers like Metrics, championing sustainability in private markets, we can be more confident in our transition to a low carbon and climate resilient economy," CBI chief executive Sean Kidney said.