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ARTICLE · 06 JUNE 2024

Sustainability Coordinators: A Transatlantic Comparison

Mayer Brown
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On April 24, 2024, the Loan Market Association (the "LMA") published its Sustainability Coordinator Letter (the "LMA Letter").

United StatesFinance and Banking
Jennifer Kratochvil
Jennifer Kratochvil
Peter Pears
Peter Pears
Ben N. Crosby
Ben N. Crosby
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On April 24, 2024, the Loan Market Association (the "LMA") published its Sustainability Coordinator Letter (the "LMA Letter"). According to the LMA, the LMA Letter is "intended to provide a starting point for a sustainability coordinator letter" in the context of the appointment of a sustainability coordinator in the ESG loan market. The publication of the LMA Letter follows the Loan Syndication and Trading Association's (the "LSTA") February 2023 publication of its own Sustainability Structuring Agent Engagement Agreement Inserts (the "LSTA Engagement Agreement Inserts").

This Legal Update contains a comparative analysis of the LMA Letter and the LSTA Engagement Agreement Inserts, notes key similarities and differences between the two documents, and provides some key takeaways for ESG loan market participants—borrowers, lenders and Sustainability Coordinators alike—when negotiating the engagement of a Sustainability Coordinator.1

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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