The Applus + Group and Caixabank have signed a financing, in the form of a credit line, linked to sustainability criteria for a value of 100 million euros over 2 years, with the option of an extension for an additional year. This operation focuses on refinancing a line of credit close to maturity to make it the first sustainable financing operation for the Applus + Group.
The credit line links the financing margin to a CO2 emissions indicator. This indicator, whose objective will be measured annually, commits the company to reduce its CO2 emissions by 17% by 2023. The conditions of the credit granted by CaixaBank could improve if the CO2 emission reduction targets established for each year are met . In this way, the Applus + Group’s commitment to initiatives and projects that respect the environment that contribute to preventing, mitigating and responding to climate change is demonstrated.
The operation between both entities has received external advice from KPMG, who has reviewed Applus + ‘objectives in terms of reducing emissions and their alignment with the’ Sustainability Linked Loan Principles 2019 ‘of the Loan Market Association ).
For its part, for CaixaBank, the operation represents new support for companies committed to sustainability and innovation with sustainable financing solutions.
CaixaBank, committed to sustainability
CaixaBank is one of the financial institutions most committed to sustainability, since its Socially Responsible Banking Plan includes five important principles of action that make a direct contribution to the United Nations Sustainable Development Goals. The entity supports, through its activity, initiatives and projects that respect the environment, which contribute to preventing and mitigating climate change, promoting the transition towards a low-carbon economy and social development.
The bank has mobilized more than 12,000 million euros in sustainable financing in 2020, with more than 2,000 million euros formalized in green financing and more than 3,000 million formalized in financing linked to ESG variables, where the objectives on environmental variables stand out, such as reducing emissions or energy efficiency. In addition, CaixaBank has participated in the issuance of 13 green, sustainable or social bonds, with a global amount of 7.5 billion euros. At the end of 2020, CaixaBank has positioned itself as the 5th bank in Europe and 9th worldwide in green and sustainable loans in the League Tables Top Tier by volume, according to Refinitiv.
To date, CaixaBank has issued seven bonds in support of the United Nations Sustainable Development Goals, and is the European bank with the highest volume of ESG credit issues in euros: four green bonds and three social bonds, for a value total of 6,000 million euros and 500 million pounds.