€2bn revolving credit facility helps Solvay’s five Sustainable Development Goals by 2025
In September 2018 the company announced a commitment to cut greenhouse gases from its own operations by one million tonnes by 2025 relative to 2017 levels, thereby decoupling for the first time its new targets from its earnings growth. The Group intends to achieve this reduction by further improving energy efficiency, energy mix and by investing in clean technologies.
In January 2019, using a syndicate of nine banks, Solvay announced that it had agreed new terms for an existing €2bn revolving credit facility, linking the cost of credit to a reduction in greenhouse gases.
The banks which participated in the revolving credit facility were BNP Paribas Fortis, Citi, Commerzbank, Credit Agricole, HSBC, ING, J.P. Morgan, KBC Bank and the Bank of Tokyo-Mitsubishi UFJ.
The revolving credit facility is intended for general business purposes and matures in 2023, with the possibility to extend it to 2024.