YARIY Yara International ASA (PK)

Fertilizer producer Yara International signed a $1.1 billion revolving credit facility that links the interest to be paid with the company's progress in reducing its CO2 emissions. The facility's interest rate will be adjusted every year based on Yara's progress in reducing its carbon intensity, giving the company a discount on the interest it pays if it reaches its target--achieving a 10% reduction of greenhouse-gas emissions per ton of fertilizer produced by 2025. Companies world-wide are under pressure from authorities and investors to pollute less, and sustainability-linked loans like this credit facility are one tool that could motivate them to improve their effect on the environment. (ricardo.aceves@wsj.com)

(END) Dow Jones Newswires

July 17, 2019 11:43 ET (15:43 GMT)

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