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Investa鈥檚 core prime office fund has become the first Australian fund to secure a green loan to help refinance its debt.

Investa Commercial Property Fund (ICPF) said it has secured the A$170m (鈧�107m) loan and has achieved Australia鈥檚 first verification of a green loan from Climate Bonds Initiative (CBI).

ICPF intends to use the loan to refinance an existing, revolving debt facility and will be fully allocated against the entire $5.1bn portfolio.

Jason Leong, the fund manager ICPF said: 鈥淲e are very proud to be the first Australian fund to secure a green loan.

鈥淲e鈥檝e worked hard to ensure the whole portfolio meets the rigorous standards of the Climate Bonds Initiative, which optimises the application of the funds.鈥�

Leong said this new green loan links the funds debt funding with an emissions intensity standard for its portfolio, thereby 鈥渃reating financial opportunity via strong environmental performance鈥�.

鈥淲e are certainly open to entering into more green loans or green financial instruments in the future,鈥� Leong said.

Nina James, a general manager in charge if corporate sustainability at Investa, said: 鈥淚n 2016, Investa set an ambitious carbon reduction target of net zero emissions by 2040, leading the industry and ensuring Investa managed assets are continually on an aggressive pathway to net zero emissions.

鈥淚CPF鈥檚 new green loan is another example of how Investa is meeting the increasing demands of investors who prioritise action on climate change by innovating the way we structure our finance, to further reduce our impacts.鈥�

Rob Fowler the head of certification for climate bonds initiative said: 鈥淭his initiative keeps Investa at the forefront of green finance development in Australia.

鈥淔rom multiple certified green bonds to this loan project, they are active in pursuing both innovation in green investment and international best practice in Australia鈥檚 property sector.鈥�