Imerys : Financial press releases — PDF (387.82 KB)
May 07, 2021 at 04:11 am EDT
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PRESS RELEASE
May 6, 2021
Imerys successfully launches its frst sustainability-linked bond
for €300 million
Imerys, the world leader in mineral-based specialty solutions for industry, today launched a €300 million sustainability-linked bond with an annual coupon of 1% maturing in 2031. With this bond, the Group confrms it is fully committed to reducing carbon emissions and to achieving its broader sustainability ambition.
Sébastien Rouge, Chief Financial Ofcer: "We are proud to have launched our frst sustainability-linked bond. The success of this operation exceeded our expectations with an order book in excess of €1.3 billion, which corresponds to an oversubscription of more than 4x. It allows us to optimize our debt profle and, at the same time, to demonstrate the strength of our long term CSR commitments, in particular in reducing greenhouse gas emissions."
Leah Wilson, Corporate Social Responsibility Vice President: "Climate change is a global issue and a priority CSR theme for Imerys since 2017. We have already achieved tangible results thanks to eforts to integrate climate considerations into all our processes, for example with the introduction of an internal carbon price in our capital expenditure projects. The launch of this Sustainability-Linked Bond is an important milestone in the ramp up of our CSR program, SustainAgility, by ensuring that our CSR commitment is embedded across all our business operations and that we are driving continuous improvement."
The target Imerys has committed to achieving is a reduction of its greenhouse gas emissions by 22.9% in 2025 and 36.0% in 2030 relative to revenue (tCO2/M€) from a 2018 base year, as validated by the Science Based Target initiative (SBTi). This includes Scope 1 emissions (direct emissions from sources owned or controlled by Imerys) and Scope 2 emissions (indirect emissions from the production of electricity, heat or steam imported or purchased by the Group). Bond investors will receive a premium payment, should the company not meet its objectives in 2025 and 2030. Imerys will report annually on its performance against these key objectives in its Universal Registration Document.
Cicero Shades of Green, a leading provider of Second Opinions on green bond frameworks, gave a Second Party Opinion (SPO) validating the robustness and relevance of the company's greenhouse gas emission intensity reduction target in the context of this bond. They confrmed the alignment of Imerys' Sustainability-Linked Financing Framework with the Sustainability-Linked Bond Principles, which are published by the International Capital Markets Association (ICMA).
Imerys is rated B by CDP, above the industry average (C), Platinum by Ecovadis, AA by MSCI and 37th out of 122 by Sustainalytics.
The world leader in mineral-based specialty solutions for industry, with €3.8 billion revenue and 16,400 employees in 2020, Imerys delivers high value-added, functional solutions to diversifed set of industrial sectors, from processing industries to consumer goods. The Group draws on its knowledge of applications, technological expertise and its material science know-how to deliver solutions based on benefciation of its mineral resources, synthetic minerals and formulations. These contribute essential properties to customers' products and performance, including refractoriness, hardness, conductivity, opacity, durability, purity, lightness, fltration, absorption and repellency. Imerys is determined to develop responsibly, in particular by fostering the emergence of environmentally-friendly products and processes.
Analyst / Investor Relations
Press contacts
Vincent Gouley - +33 (0)1 4955 6469
Claire Lauvernier : +33 (0)1 4955 6665
fnance@imerys.com
Hugues Schmitt (DGM Conseil) : +33 (0)1 4070 1189
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Imerys SA published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2021 08:05:03 UTC.
As a world leader in mineral specialties for the industry, Imerys offers high-added-value business solutions for a wide range of sectors, from process industries to consumer goods or construction products. The group actively mobilizes its knowledge of applications, technological expertise and materials science know how to provide high-end solutions that value its mineral resources, develop formulations or produce synthetic minerals. All these actions bring about essential properties to its customers' products and their performance such as refractoriness, toughness, conductivity, opacity, durability, purity, lightness, filtration, absorption, or hydrophobicity. Imerys is strongly committed to responsible developmentin particular, to contribute to the development of environmentally friendly products and processes. The activity is organized around 2 areas:
- Performance Minerals: the segment brings together three geographical business areas - Europe, Middle East and Africa (EMEA), America and Asia/Pacific (APAC). This segment encompasses functional additives that give unique properties to the products they compose. It serves the plastics, rubber, paint and coatings, filtration, ceramic materials, renewable energy, paper and cardboard, food, health and cosmetic industries;
- Materials and High Temperature Solutions: the segment, managed globally, brings together two business areas - High Temperature Solutions and Refractories, Abrasives & Construction. This segment facilitates production processes involving high temperatures. It serves the refractory, foundry, metals, abrasives and building chemicals markets.
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