DSM links Greenhouse Gas emission reduction to interest rate in new €1 billion Revolving Credit Facility
For DSM sustainability is a core value, a key responsibility and an important business growth driver. Climate action underpins its approach to sustainability and business at large. To underline its commitment to tackling climate change, DSM has linked the interest rate of this Facility to its performance on the reduction of GHG emissions, consisting of three performance improvement elements: cumulative GHG efficiency improvement, improving the Energy Efficiency Index (EEI) and increasing the electricity sourced from renewable resources.
Geraldine Matchett, CFO and Member of the DSM Managing Board commented: “DSM is deeply committed to providing products and solutions that help to combat climate change. Therefore, I am pleased that our long-term banking partners have supported us in getting this innovative financing arrangement in place, underscoring the importance of sustainability in everything we do and that includes corporate finance.”
The €1 billion Revolving Credit Facility underpins DSM’s strong liquidity profile, and is intended for general business purposes. The Facility has a maturity of five years which may be extended by a further two years. More information on DSM’s sustainability performance can be found in DSM’s 2017 Integrated Annual Report.