Three more banks have announced their support for the International Chamber of Commerce (ICC)'s Principles for Sustainable Trade Finance.| Global Trade Review (GTR)
Trade and commodity finance lawyer Ellis Lawson has joined global law firm Dentons as partner. Lawson moves to the firm from Sullivan & Worcester LLP, where he was a banking and finance partner in London since July 2023. Dentons says Lawson regularly acts for banks, private credit lenders, borrowers and development finance institutions. ...| Global Trade Review (GTR)
HSBC will no longer report interest income from its global trade finance unit, while continuing to disclose fee and commission revenue. The London-headquartered lender bills itself as the world’s largest trade bank and says it facilitated US$850bn in trade flows last year, making its earnings a bellwether for global trade activity. It previously included total ...| Global Trade Review (GTR)
Mercuria has grown its European revolving credit facilities (RCFs) to US$3.5bn, which the commodity trading giant says will aid its growth plans and expansion in the LNG and metals markets. The facilities comprise one-year and three-year multicurrency RCFs as well as a one-year off-balance sheet instruments facility, with extension options. They were launched at US$2.75bn ...| Global Trade Review (GTR)
The International Chamber of Commerce (ICC) has launched a set of principles to help banks and their clients classify trade finance transactions as sustainable. There are currently no globally agreed regulatory standards on what constitutes sustainable finance, and regulators have signalled closer scrutiny of banks’ green finance claims over allegations of greenwashing. Trade finance instruments ...| Global Trade Review (GTR)