The burden on risk-free benchmarks was originally (and understandably) cited by derivatives markets, which focused exclusively on historical overnight rates in liquid markets, and it is only recently that spot markets have realized that impending changes in benchmark rates and the demise of LIBOR will have dramatic side effects on spot markets (and especially in credit markets), where projected maturities for decades are the norm. In 2018, APLMA collaborated with the LMA and LSTA to create the Green Loan Principles modeled on the ICMA Green Bond Principles. In April 2019, it again collaborated with these associations to create the principles of sustainability in the markets, to incentivize borrowers to switch from brown to green activities and that have increased traction and attack in the market. . . .