The new credit facilities (the 'ESG Loans') provide for the measurement of factors to ascertain the sustainability and ethical impact of investments and, in this specific case, introduce a rewarding mechanism associated with the achievement of an avoided CO2 target, calculated based on the output from renewable sources during the plan period. ERG is, in fact, committed to the achievement of major decarbonisation goals; the Group's latest Sustainability Report indicates that in 2017 avoided CO2 amounted to around 3 million tonnes per year and this figure is expected to increase by about 15% during the period of the 2018-2022 Business Plan to reach an overall quantity of approximately 16 million tonnes.
Luca Bettonte, ERG's Chief Executive Officer, commented: 'Environmental, social and governance goals have, for some time, been a fundamental part of ERG's planning and development. Thanks to our business model we contribute towards the achievement of environmental decarbonisation goals in keeping with the commitments defined by the United Nations COP21 and SDG13 , within the scope of the 2030 sustainable development objectives. The signing of these loans is proof of the recognition and value attributed by the financial market to these choices for a more and more sustainable development.'
Deloitte has been engaged to verify the consistency of ESG elements included in the Loans with the ERG Group's strategy and market practices.
Contacts:
Sabina Alzona Head of Media Relations - tel. + 39 010 2401804 mob. + 39 340 1091311
Emanuela Delucchi IR Manager - tel. + 39 010 2401806 - e-mail: edelucchi@erg.eu - ir@erg.eu
Matteo Bagnara IR - tel. + 39 010 2401423 - e-mail: ir@erg.eu www.erg.eu - @ergnow
Attachments
- Original document
- Permalink
Disclaimer
ERG S.p.A. published this content on 20 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 November 2018 07:20:07 UTC