Home appliances manufacturer Electrolux says it has signed an eight-year, $150 million sustainability-related loan with Nordic Investment Bank (NIB) to refinance its existing debt.

The Swedish group points out that it was one of the first 100 companies in the world to join the Science Based Targets (SBTi) initiative and to have its CO2 emission reduction targets approved by SBTi in 2018.

The interest margin on the NIB loan is linked to its SBTi-validated targets in 2023 on scopes 1, 2 and 3, as well as an additional target to reduce CO2 emissions from the use of products sold by 1% per year until 2027.

Copyright (c) 2024 CercleFinance.com. All rights reserved.