Hera has signed an agreement with four banks to activate a new sustainable revolving credit line of 200 million euro. The goal is to maintain financial solidity and at the same time increase the mix of financial products and instruments adopted by the company. The agreement is the first of its kind in Italy.
Hera explains that the new credit line, called "ESG Linked RCF Facility", introduces elements of sustainability through a reward mechanism linked to the achievement of specific environmental, social and governance objectives (Environmental, social and governance: Esg). Indeed, in the commitment signed with the banks, some ESG performance indicators have been defined, by virtue of which the multi-utility will be able to benefit over time from more favorable rates.
Sustainability objectives concern, for example, the further reduction of the carbon footprint from energy production, the achievement of new energy efficiency targets, the improvement of separate waste collection.
“Environmental, social and governance objectives have been a significant part of our Group's strategic planning for some time now – commented Stefano Venier, Hera's CEO – and they contribute to charting the course, in line with the objectives of the 'UN Agenda to 2030. We therefore consider it natural, almost physiological, that even financial instruments are in line with this vision, as well as with the increasingly marked sensitivity of the market towards ESG issues".
