Air Liquide Places Non-financial Performance at the Heart of a New Financing Mechanism
03 Décembre 2019 - 08:45AM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) signed today an amendment to its 2
billion euros syndicated credit line so as to include, from now on,
a correlation scheme between its financial costs and three of its
CSR targets regarding its carbon intensity, gender diversity and
safety. An industrial player committed to sustainable development,
Air Liquide testifies through this initiative its willingness to
combine performance and responsibility.
This credit line, syndicated by the Group’s core banks, was
initially negotiated in December 2018 for a period ranging from
2018 to 2023, with two extension options of a year each. In a
traditional way, its cost was linked to market rates and to the
borrower’s credit quality.
From now on, an indexation mechanism will also link an increase
or decrease of the financing cost and commissions paid to
annually fixed targets for each criteria. The three selected
criteria for this amendment have not been specifically created for
this scheme but are already at the heart of the sustainable
development strategy of Air Liquide.
These environmental and societal performance criteria are:
- The carbon intensity of the Group (direct and indirect
kg CO2 emissions /€ Ebitda)
- The proportion of women among engineers and
managers
- The loss time accident frequency rate
Air Liquide is an industrial player committed to sustainable
development, as shown by its initiatives in favor of the
development of a hydrogen economy, such as the creation of the
Hydrogen Council in 2017 and the publication of ambitious climate
objectives in 2018.
Fabienne Lecorvaisier, Executive Vice President and
Financial Director of the Group, said: “The Air Liquide Group is
highly committed to Corporate Social Responsibility, whether it is
about carbon intensity, diversity or safety. The implementation of
a financial mechanism linking financial costs and non-financial
performance represents yet another materialization of our
commitment. After having been the first issuer of a SRI bond in
2012, we continue to participate in the development of responsible
finance mechanisms to promote sustainable growth.“
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 80 countries with
approximately 66,000 employees and serves more than 3.6 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Air Liquide’s ambition is to be a leader in its industry,
deliver long term performance and contribute to sustainability. The
company’s customer-centric transformation strategy aims at
profitable growth over the long term. It relies on operational
excellence, selective investments, open innovation and a network
organization implemented by the Group worldwide. Through the
commitment and inventiveness of its people, Air Liquide leverages
energy and environment transition, changes in healthcare and
digitization, and delivers greater value to all its
stakeholders.
Air Liquide’s revenue amounted to 21 billion euros in 2018 and
its solutions that protect life and the environment represented
more than 40% of sales. Air Liquide is listed on the Euronext Paris
stock exchange (compartment A) and belongs to the CAC 40, EURO
STOXX 50 and FTSE4Good indexes.
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