Solvay has amended its €1.1 billion multilateral revolving credit facility and its €0.3 billion bilateral revolving credit facilities to incorporate sustainability-linked features, aligning with its For Generations roadmap and reinforcing its commitment to reducing greenhouse gas (GHG) emissions.
These amendments directly link the company’s cost of borrowing to its climate ambitions, specifically the achievement of ambitious greenhouse gas (GHG) emission reduction targets. The new structure incentivizes progress on key performance indicators that cover Scope 1, 2, and Scope 3 GHG emissions (Focus 5 categories), reflecting Solvay’s comprehensive climate roadmap.
“By embedding sustainability into our financing strategy, we are strengthening our focus on addressing climate change, a core priority of the Planet Progress pillar of Solvay’s For Generations strategy” , said Alexandre Blum, CFO of Solvay.
BofA Securities and BNP Paribas acted as Sustainability structuring coordinators for this initiative.
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Solvay, a pioneering chemical company with a legacy rooted in founder Ernest Solvay's pivotal innovations in the soda ash process, is dedicated to delivering essential solutions globally through its workforce of over 9,000 employees. Since 1863, Solvay harnesses the power of chemistry to create innovative, sustainable solutions that answer the world’s most essential needs such as purifying the air we breathe and the water we drink, preserving our food supplies, protecting our health and well-being, creating eco-friendly clothing, making the tires of our cars more sustainable and cleaning and protecting our homes. Solvay’s unwavering commitment drives the transition to a carbon-neutral future by 2050, underscoring its dedication to sustainability and a fair and just transition. As a world-leading company with €4.7 billion in net sales in 2024, Solvay is listed on Euronext Brussels and Paris (SOLB). For more information about Solvay, please visit solvay.com or follow Solvay on LinkedIn.