Metso Outotec and the Nordic Investment Bank (NIB) have today signed an eight-year EUR 100 million sustainability-linked loan agreement. The terms of the loan are linked to mutually agreed sustainability targets that relate to Metso Outotec reducing its own operations’ and supply chain’s CO2 emissions by 2025.
Sustainability is a strategic priority for Metso Outotec and the company has set Science Based Targets (SBT) in alignment with limiting global warming to 1.5 degrees. The sustainability-linked loan agreement is continuation of Metso Outotec’s previous agreement in September 2021 with the core banking group to include sustainability targets into the EUR 600 million Syndicated Revolving Credit.
Metso Outotec and the NIB have agreed to include three sustainability related targets to the loan that are:
- Reducing CO2 emissions from the Group’s own operations
- Reducing CO2 emissions from the Group’s logistics
- The Group’s suppliers having a Science Based CO2 emissions reduction target
The development of these targets will be measured annually. Depending on the achievement of these targets the pricing of the loan will either decrease or increase.
“NIB’s sustainability-linked loan will finance Metso Outotec’s sustainability ambitions, contributing to the company’s efforts to reducing CO2 emissions from their operations. Linking financing to sustainability objectives effectively supports companies in integrating sustainability into their strategy and achieving ambitious goals,” says André Küüsvek, President and CEO of the Nordic Investment Bank.
“In addition to managing our handprint CO2 emissions, emissions from customer operations, decreasing the environmental footprint of our own operations and in our logistics and supply chain is a high priority for Metso Outotec. We are further underlining this commitment with sustainable funding. I am delighted of the good cooperation with NIB in designing this sustainability-linked loan agreement. Reducing CO2 emissions is fundamental for us all to limit global warming to 1.5 degrees. Together with NIB we have truly built an industry-leading example of sustainable financing,” says Eeva Sipilä, CFO, Metso Outotec.
Further information, please contact:
Minna Helppi, SVP Group Treasurer, Metso Outotec Corporation, tel. +358 40 772 1024
Metso Outotec Corporation
Nasdaq Helsinki Ltd
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
Metso Outotec is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. By improving our customers’ energy and water efficiency, increasing their productivity, and reducing environmental risks with our product and process expertise, we are the partner for positive change.
Metso Outotec is committed to limiting global warming to 1.5°C with Science Based Targets. We ranked 8th on the 2021 Global 100 list of the world’s most sustainable companies.
Headquartered in Helsinki, Finland, Metso Outotec employs over 15,000 people in more than 50 countries and its sales for 2020 were about EUR 3.9 billion. The company is listed on the Nasdaq Helsinki. mogroup.com, www.metso.com/twitter/