On October 6th Hera Group has disclosed its Sustainability-Linked Financing Framework (SLFF), which sets out the guidelines of its commitment to sustainable finance. This document outlines the metrics applicable to any financial instrument, and in particular provides a reference model for future bonds linked to reducing emissions and encouraging plastic recycling.
More specifically, the Hera Group has introduced two key indicators in its SLFF, in line with the strategies outlined in the Business Plan for energy and environmental transition, and representative of Hera’s commitment to achieving the goals on the UN’s 2030 Agenda.
The first concerns reducing greenhouse gas emissions: Hera aims to lower these emissions by 37% within 2030 (compared to 2019), thanks to both concrete interventions within the company and the involvement of suppliers and customers in electricity and gas sales. This is one of the most ambitious targets defined by a company in Italy, validated by the prestigious international network Science Based Target initiative (SBTi).
The second is linked to the quantity of plastics recycled by the Group, an area in which it already shows leadership, through its subsidiary Aliplast. The only Italian multi-utility to have signed the Ellen MacArthur Foundation’s “New Plastics Economy Global Commitment”, it will extend its commitment in this sector, through means including increasing its plant capacity and extending its range of action to the recovery of rigid plastics. The goal is to increase the amount of plastic recycled by 150% within 2030 (compared to 2017).
In the spirit of transparency, which has always been one of Hera’s hallmarks, intermediate Sustainability Performance Targets (SPTs) have also been defined with respect to the 2030 objectives, which will be reported annually.
The Sustainability-Linked Financing Framework was updated in December 2023 which confirms the commitment to achieving the ambitious objectives for 2030 linked to the reduction of greenhouse gas emissions and the quantity of plastics recycled by the Group.
Sustainalytics, one of the leading ESG rating agencies, has issued a Second Party Opinion certifying the Hera Group’s Sustainability-Linked Financing Framework’s consistency with the main international reference standards, first and foremost the International Capital Market Association’s 2023 Sustainability-Linked Bond Principles.
Page update 9 January 2024
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