(Alliance News) - Banco BPM Spa announced Thursday that it has finalized a EUR20 million "Objective Sustainability" financing deal in favor of Aboca, a leading European natural substance-based medical device company based in Sansepolcro. The agreement is functional to support the company's 2022-24 development plan.

"Objective Sustainability" is the financing, of the sustainable linked loan type, which involves sharing with the company sustainability improvement goals through specific performance indicators. In this case, the ESG KPI identified concerns the increase in the percentage of energy derived from renewable sources in relation to total energy used.

"The loan is attributable to the EUR5 billion "Sustainable Investments 2020-2023" plafond that Banco BPM has designed precisely to meet the needs of the business world, which is increasingly attentive to ESG issues, such as decarbonization, which represents one of the most important actions to combat climate change," the bank said.

Aboca, based in Sansepolcro, is an Italian healthcare company that makes 100 percent natural health care products, including substance-based medical devices and dietary supplements.

Banco BPM stock is up 0.3 percent at EUR4.19 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.