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BayernLB supported Sofidel S.p.A. with a mid-term bilateral loan whose margin can be adjusted depending on the level of three KPIs (Key Performance Indicators), two environmental ones and one social, measured and reported by Sofidel for some years: greenhouse gas emissions, plastic consumption and training hours.
According to the companies motto “clean living” Sofidel is accelerating its path of responsible growth by being not only active in recycling and circular economy, but also implementing sustainable finance instruments to fund its sustainable development strategy to the tools and best practices made available by sustainable finance. The bilateral loan is one of the companies’ second loan on the sustainability-linked loan market.
Riccardo Balducci from Sofidel: “For us this is another step – and other similar transactions will follow – in implementing a strategy for sustainable development and a low-carbon economy that has seen Sofidel increase its focus on ESG ratings and the use of electricity from renewable sources.” And Christophe
Huet from BayernLB Paris adds: “We are very proud to support Sofidel with our expertise in the area of sustainability and accompany them on their journey.”
The Sofidel Group is one of the leading manufacturers of paper for hygienic and domestic use worldwide. Established in 1966, the Group has subsidiaries in 13 countries – Italy, Spain, the UK, Ireland, France, Belgium, Germany, Sweden, Poland, Hungary, Greece, Romania and the USA – with more than 6,500 employees, net sales of 2,801 million Euros (2022) and a production capacity of over one million tonnes per year (1,440,000 tonnes in 2022). “Regina”, its most well-known brand, is present on almost all the reference markets. Other brands include: Sopalin, Le Trèfle, Hakle, Softis, Nalys, Cosynel, KittenSoft, Lycke, Nicky, Papernet. A member of the UN Global Compact and the international WWF Climate Savers programme, the Sofidel Group considers sustainability a strategic factor with regards to growth and is committed to reducing its impact on natural capital and maximising social benefits, setting as objective the creation of shared added value for all stakeholders. Sofidel’s greenhouse gas (GHG) emissions reduction targets to 2030 have been approved by the Science Based Targets initiative (SBTi) as consistent with reductions required to keep warming to well-below 2°C, in line with the goals of the Paris Agreement.