For the first time in its history, Edenred has decided to index the financial conditions attached to one of its financing instruments to environmental and social performance indicators, taken from the quantitative sustainable development targets set by the Group for 2022 and 2030.
The two non-financial criteria to be introduced into the calculation of the syndicated credit facility’s financing costs relate to:
- promoting healthy and sustainable eating habits – Edenred aims to reach by 2030 an 85% nutrition awareness rate among merchants and employees using its solutions (versus 30% in 2018);
- combating global warming – Edenred is targeting a 52% cut in greenhouse gas emissions intensity by 2030 compared with 2013 (26% reduction in 2018).
The Group’s sustainable development policy has three focus areas:
- Ideal People: improve quality of life
- Ideal Planet: preserve the environment
- Ideal Progress: create value responsibly
Patrick Bataillard, Edenred’s Executive Vice President, Finance, said: “The operation’s success is indicative of the quality of Edenred’s credit. As well as strengthening the Group’s liquidity under improved conditions, the new agreement is perfectly in line with our strategy of generating sustainable and profitable growth.”
The transaction was arranged by Crédit Agricole CIB acting as Sole Coordinator and Sustainability Coordinator.