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Rexel’s Sustainability-Linked Bonds SPO Provided by V.E

Rexel's Sustainability-Linked Bonds Framework SPO

V.E has provided a Second Party Opinion (SPO) on the integration of two environmental factors to Rexel’s Sustainability-Linked Bonds to be issued in compliance with its Sustainability-Linked Bond Framework. The two Key Performance Indicators (KPIs) and their associated Sustainability Performance Targets (SPTs) are the following:

 

    • KPI 1: Percentage reduction of Scope 3 GHG emissions intensity related to the consumption of products sold, with the following targets and trigger events:
      • SPT 1: As of December 31, 2023, with an intermediary reduction target of 23% reduction in GHG emissions intensity from the use of products sold from a 2016 baseline
      • SPT 2: As of December 31, 2030, with a reduction target of 45% reduction in GHG emissions intensity from the use of products sold from a 2016 baseline
    • KPI 2: Scopes 1 & 2 Greenhouse Gas (GHG) Emissions percentage reduction, with the following targets and trigger events:
      • SPT 1: 23,70 % reduction in GHG emissions by December 31, 2023 from 2016 baseline
      • SPT 2: 35% reduction in GHG emissions by December 31, 2030 from 2016 baseline KPI: Water Recycling Facilities for Sustainable Water and Wastewater Management at Poultry Operations

V.E is of the opinion that this Framework is aligned with aligned with the core components of the Sustainability-Linked Bond Principles (SLBP) 2020. We express an advance assurance on both the KPIs’ relevance and the SPTs’ ambition.

Rexel operates as a holding Company, which engages in the distribution of electrical products. The Company was founded in 1967 and is headquartered in Paris, France.

V.E has produced more than 300 second-party opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We are a Climate Bonds Standard Approved Verifier.

Click HERE for more information on Rexel’s Sustainability-Linked Bonds Framework.
The full SPO can be found in PDF form below.

 

For more information on this mission and V.E’s SPO services for Bonds and Loans:
Savannah Rowe
Communications Assistant
savannah.rowe@vigeo-eiris.com

Benjamin Cliquet
Head of Sustainable Finance Business Development
benjamin.cliquet@vigeo-eiris.com

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