Vigeo Eiris provides the Italian multi-utilities company HERA with an independent opinion for the first Italian sustainable revolving line of credit (RCF)
This line of credit will be linked to a bonus mechanism tied to specific environmental objectives. The amount of 200 M€ will finance the company’s general needs.
This facility of 200M€ will finance the company’s general needs. The Spanish bank BBVA, acting as “Sustainable Coordinator”, cooperated with HERA to adjust the credit margin to the company’s sustainable performance based on several KPIs:
– GHG emissions intensity
– Separate waste collection
– Reduction of energy consumption
Vigeo Eiris was commissioned to provide an independent opinion based the review of two components: the consistency of the selected indicators; and the level of ambition of the established variation of such indicators for adjusting the margin.
This innovative credit transaction follows the Iberdrola’s operation announced in January 2018, also based on a KPI.