The Applus+ Group and CaixaBank have signed a 2-year sustainability-linked loan agreement totalling €100 million, with an option to extend for an additional year. The transaction refinances a maturing debt facility and is a first for the Applus+ Group.
The loan agreement links the interest rate margin to an annual CO2 emissions reduction target, encouraging Applus+ to reduce them by at least 17% by 2023.
The conditions of the line of credit granted by CaixaBank are improved if the Applus+ Group meets its CO2 emission-reduction targets. This demonstrates the commitment of the Applus+ Group to environmentally-friendly initiatives and projects, which contribute to preventing, mitigating and responding to climate change.
The transaction has been externally reviewed by KPMG, who have evaluated the emissions reduction targets and its alignment with the Loan Market Association's Sustainability-linked Loan Principles 2019.
For CaixaBank, the operation represents further support provided to companies committed to sustainability and innovation with sustainable-financing solutions.
About APPLUS+
Applus+ is one of the world’s leaders in testing, inspection and certification (TIC). We are a trusted partner, recognised in the market for assisting clients to enhance the quality and safety of their assets, infrastructures and operations.
The company offers a broad portfolio of solutions and maintains a strong commitment to technological development, digitisation, innovation, and the constant updating of its knowledge of legislated standards and regulatory requirements.
The Group is committed to improving its ESG indicators. Applus+ assists its clients to reduce their environmental impact by improving the safety and sustainability of their products and assets.
The Group has been implementing measures to reduce its own environmental footprint and improve its social and corporate governance initiatives since 2014, setting specific targets for 2021. These actions have earned external recognition: an above-average "AA" rating from MSCI ESG Ratings; an above-average "B" rating from CDP; and the inclusion of Applus+ in the FTSE4Good Index Series of the Ibex.
CaixaBank: committed to sustainability
CaixaBank is one of the financial institutions most committed to sustainability, based on its Socially Responsible Banking Plan which includes five specific principles of action that make a direct contribution to the United Nations’ Sustainable Development Goals (SDGs).
Through its activities, the bank supports environmentally-friendly initiatives and projects that contribute to preventing and mitigating climate change, and promoting the transition to a low-carbon economy and social development.
The bank has mobilised more than €12,000 million in sustainable financing in 2020, with more than €2,000 million formalised in green financing and more than €3,000 million formalised in financing linked to ESG variables, where the objectives on environmental variables, such as the reduction of emissions or energy efficiency, stand out.
CaixaBank has also participated in the issuance of 13 green, sustainable or social bonds, with a value totalling €7,500 million. At the end of 2020, CaixaBank was ranked fifth in Europe and ninth worldwide for providing green and sustainable loans in the Top Tier League Tables by volume, according to Refinitiv, a financial-market data provider.
By March 2021, CaixaBank had issued six bonds in support of the United Nations’ SDGs, and it has the highest volume of ESG credit issues in euros for all European banks: three green bonds and three social bonds, for a total value of €6,000 million.
