Viscofan signs two sustainable loans for a total of 35 million euros with the banks BBVA and Rabobank
Viscofan becomes the first company in the casings sector to sign a sustainable loan, increasing its commitment to well-being and the environment by 2030.
Viscofan has signed two new bilateral loans to transform part of its traditional financing into sustainable financing with the support of BBVA and Rabobank.
In this way, the commitments established for 2030 in the Sustainability Action Plan and the initiatives planned in the field of decarbonisation, the reduction of the water footprint and the circular economy will have better financial support if the evolution of the sustainability parameters expected for the coming years is aligned with these objectives.
The sustainability parameters established are the reduction of CO2 emissions per km of casing produced, the reduction of m3 of water withdrawn per km of casing produced, and the tons of waste sent to landfill per km of casing produced.
BBVA with €20 million over four years, and Rabobank through a loan of €15 million over three years, support the achievement of these objectives by linking the interest rate of the loan to the evolution of the indicators indicated with an annual review period.
Another step towards the sustainability
Viscofan has been a pioneer in joining the Un Compact in 2015 and in being committed to achieving the SDGs of the 2030 Agenda. As a result of this commitment, it is leading the sector's initiatives to reduce its climate impact, highlighting the investments made for the use of green hydrogen in its facilities, and carrying out an ambitious sustainability action plan.
These sustainability initiatives have been recognized by customers and other stakeholders. An ambitious transformation plan that now has greater support thanks to the incorporation of sustainable loans within the financing structure of the company.