MADRID, Spain, Aug. 1, 2019 (Press Release) -Ence-Energía y Celulosa has signed a new sustainable loan of 25 million euros with CaixaBank, which will be used to finance different projects of the company for the pulp business. This new loan will help finance, among others, investments aimed at promoting the circular economy and improving the environmental performance of the Ence biofactory in Navia (Asturias).
One of the highlights of the operation is that the loan conditions will be set based on its sustainability performance, so that if the company improves its sustainability parameters, the interest rate will also improve.
In this sense, the independent rating company Sustainalytics will be responsible for annually evaluating Ence’s performance in environmental, social and good governance aspects.
With this operation, Ence reinforces its commitment to sustainability and is positioned as one of the leading Spanish companies in promoting sustainable financing for investments with a clear positive impact at the environmental level.
CaixaBank is the first Ibex 35 bank to completely neutralize its calculated carbon footprint and, for the fifth consecutive year, has been included by the CDP in the index of leading companies in the fight against climate change. It also collaborates with the European Investment Bank in the financing of projects focused on the fight against climate change, contributing to the Sustainable Development Goals.