Pirelli has obtained the qualification of “Top 1%”, the highest recognition in the field of Sustainability Year Book 2023 published by S&P Global after an examination of the sustainability profile of over 13.000 companies and "this year too it is confirmed among the best companies globally in terms of sustainability" says a note from the Bicocca company.
The result follows the score recorded by Pirelli in the Corporate Sustainabilty Assessment 2022 for the Dow Jones Sustainability indices of S&P Global, where the company had obtained the Top Score of 86 points (revised from the initial 85), the maximum in the ATX Auto Components sector of the Dow Jones Sustainability World and Europe indices.
“We are proud to have been confirmed Top ESG Performer in the Sustainability Yearbook 2023” he said Marco Tronchetti Provera, executive vice president and chief executive officer of Pirelli. “The recognition rewards the commitment of all those who work at Pirelli in transforming our sustainability strategy into concrete results, setting themselves ever more challenging goals to maximize sustainable and shared value creation”.
The first sustainability bond in the tire sector is made by Pirelli
Last month Pirelli had placed with international institutional investors its first sustainability-linked bond for a total nominal amount of 600 million euros. The issue was placed with over 190 international investors and saw a demand equal to almost 6 times the offer, amounting to approximately 3,5 billion euro.
The sustainability objectives, validated by the Science Based Targets initiative as consistent with maintaining global warming "under 1,5 degrees Celsius", are contained in Pirelli's first "Sustainability-linked financing Framework", a document which contains the guidelines guidance and the company's commitments to its stakeholders on sustainable finance. The framework, the first published by a company of the tire sector worldwide, it has been designed in accordance with the Sustainability-Linked Bond Principles 2020 of the International Capital Market Association and the Sustainability-Linked Loan Principles 2020 published by the Loan Market Association. “Pirelli is the first company in the world in the tire sector to launch a benchmark bond issue linked to sustainability objectives. This transaction reaffirms the centrality of sustainability in our corporate strategy and Pirelli's ability to integrate a responsible approach into all business activities to create value for all Stakeholders,” said Tronchetti Provera.
