The International Capital Market Association (ICMA) has released a series of updated publications and guidance through the Green, Social, Sustainability and Sustainability-Linked Bond Principles (SLBP) (collectively, the Principles). These updates include new Green Enabling Projects Guidance (the Guidance) and guidelines for Sustainability-Linked Loan financing Bonds (the Guidelines), the latter of which are issued jointly with the Loan Market Association. The Principles are the global benchmark for the $5 trillion sustainable bond market that represents the largest source of market finance dedicated to sustainability and climate transition, providing an important framework for corporates, financial institutions, and government bodies globally and referenced by 98% of sustainable bond issuance. This bulletin briefly summarizes key aspects of the updated Guidance and Guidelines. Green Enabling Projects Guidance Overview. The Guidance is intended to provide guidance for “green enabling projects”, which are those projects that are not explicitly considered “green” but are nevertheless critical to eligible green projects (“Green Enabling Projects”). The Guidance provides guidance on: (i) identifying the role Green Enabling Projects play in catalysing and scaling the transition to a low-carbon economy in line with the goals of the Paris Agreement while recognizing the complexities of value chains and challenges of multiple end-uses, (ii) addressing both induced and avoided emissions; and (iii) the management of related environmental and social (E&S) risks. The Guidance primarily applies to the following sectors when necessary for an enabled green project’s value chain to be developed and/or implemented: (i) mining and metals; (ii) building and construction supplies and equipment; (iii) chemicals and specialty chemicals; (iv) ICT and telecommunication networks; and (v) manufacturing of industrial parts and components. Specific criteria. Green Enabling Projects must meet the following criteria: necessary for an enabled green project’s value chain; no carbon lock-in; clear, quantifiable, and attributable environmental benefit; and mitigated adverse E&S impacts.…