$5 bn sustainability loans can be linked with target: BofA's Subramaniam

Bengaluru is worst-affected city, even as it continues to top start-up fundraising

Shankar Subramaniam, managing director and India head (corporate banking) of Bank of America, in an interview with Manojit Saha explains why demand for sustainability loans is increasing among the Indian corporate sector. Edited excerpts:

Larsen and Toubro (L&T) recently completed the transition of a $150 million loan into sustainability-linked loan (SLL). Are SLLs gaining popularity among Indian corporates? 

We are witnessing the beginning of an extremely positive trend. Over the past couple of years, the majority of corporates have declared their net-zero targets. They are now taking a step forward and ascribing a cost on not delivering on their targets.