07 Mar 2024

RBS International helps launch Fidelity’s Real Estate Climate Impact Fund

RBS International has successfully supported Fidelity International’s inaugural European Real Estate Climate Impact Fund with a €200 million green loan revolving subscription facility. 

2 minute read time

The fund is Fidelity’s first Article 9 Sustainable Finance Disclosure Regulation (SFDR) climate impact fund and seeks to reduce carbon emissions through refurbishing commercial real estate in Europe so that buildings can be operated at net zero carbon.

The revolving subscription credit facility provided by RBS International has enabled the acquisition of a prime City of London property, 99 Queen Victoria Street, which will be fully refurbished in line with net zero carbon targets to create a fit-for-purpose landmark office building.

The facility is structured under a Green Loan Framework, which provides the fund with beneficial pricing to support sustainable investment activity. Investments made by the fund must meet agreed eligibility criteria in line with the EU Taxonomy, the SFDR, and the Loan Market Association Green Loan Principles.

Stefan Szczurowski, senior director, RBS international, said:

“We're delighted to have successfully partnered with Fidelity on this strategically important fund in addressing and tackling the current climate challenge.

“We look forward to continued collaboration and growth in our relationship with Fidelity.”

With 40% of total carbon emissions in the developed world coming from real estate, and over 80% of Europe’s commercial buildings requiring renovation to meet climate targets, the strategy helps to tackle the global challenge of reducing emissions.

The aims of Fidelity International’s fund align closely with the climate purpose and sustainability objectives of RBS International, part of NatWest Group, from halving the climate impact of financing activity by 2030, to achieving a net zero operational value chain footprint by 2050.


For more information email Stefan Szczurowski, senior director, RBS International. 


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