The trade finance industry now has another tool in its ESG toolbox with the publication of the global loan market associations’ social loan principles (SLP). Launched jointly by the Loan Market Association (LMA), Asia Pacific Loan Market Association (APLMA) and the Loan Syndications and Trading Association (LSTA), the SLP are a set of voluntary recommended guidelines for lending that mitigates social issues and challenges or achieves positive social outcomes. The SLP are the latest in a series of ESG-related loan principles. In 2018, the LMA published the green loan principles (GLP), which clarified the instances in which a loan may be categorised as green, while in 2019, the launch of the sustainability linked loan principles gave the finance industry a definition of sustainability linked finance.