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UK-based UPP Group Holdings Limited completed a £110m sustainability-linked revolving credit facility with Deutsche Bank. The facility ties funding costs to UPP’s sustainability goals, including carbon reduction and biodiversity net gain across its 35,000-room portfolio. Deutsche Bank aims to support sustainable finance with a Euro 500 billion target by 2025.

US-based BlueOval SK LLC received a $9.63 billion loan from the Department of Energy to construct three manufacturing plants in Tennessee and Kentucky for electric vehicle batteries. The project, a joint venture between Ford Motor Company and Korea’s SK On, aims to produce over 120 gigawatt hours of batteries annually, creating up to 7,500 jobs and supporting the US EV industry.

The UK has proposed implementing the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) to align with international standards. This involves draft secondary legislation for offsetting requirements and interaction with the UK emissions trading scheme (ETS) for flights between the UK and the European Economic Area or Switzerland. The consultation is led by the UK government, Scottish Government, Welsh Government, and the Department of Agriculture, Environment and Rural Affairs in Northern Ireland.