Borregaard ASA: New long-term sustainability-linked loan agreement
Borregaard has today entered into a ten-year sustainability-linked loan agreement with the Nordic Investment Bank (NIB). The USD 50 million loan will contribute to financing Borregaard’s investments to reduce CO2 emissions and water effluents.
NIB and Borregaard have agreed on three key performance indicators (KPIs) to be achieved. The KPIs are closely linked to Borregaard’s sustainability strategy. The margin under the loan agreement can be adjusted based on Borregaard’s progress on: (i) the Group’s 2030 target of reducing greenhouse gas emissions (Scope 1 and 2) as approved by the Science Based Target initiative, (ii) reduce emissions of organic compounds to the Glomma River to targeted levels and (iii) reduction of the Group’s total recordable injuries.
Sarpsborg, 24 March 2022
CFO, Per Bjarne Lyngstad, mobile +47 952 44 515
This information is subject to the disclosure requirements pursuant to Section 5 -12 of the Norwegian Securities Trading Act.