By signing two sustainability-indexed revolving facilities, the French electric utility company has increased its sustainability loans to €5 billion.
EDF signed the two €300 million deals with Credit Agricole CIB and Societe Generale CIB.
The revolving credit facilities are based on EDF’s sustainability KPIs:
- Direct carbon emissions
- Consumers’ use of online consumption monitoring tools
- Electrification of light vehicle fleet
The utility had signed its three previous sustainability loans in 2017, 2018 and 2019.
Xavier Girre, senior executive vice-president of EDF, said: “These two new facilities demonstrate EDF’s strong commitments in terms of corporate social responsibility by strengthening the link between its sustainability performance and financing strategy. With over €5 billion of sustainability-linked credit facilities and €4.5 billion in outstanding Green Bonds, sustainable finance instruments have become ever more core to EDF’s financing.”
Carl Bassili, Senior Banker at Societe Generale CIB commented: “Societe Generale is delighted to support EDF in its strategy of developing sustainable finance in the context of the energy transition. Societe Generale is strongly committed to meet its clients’ rising needs in the field of Sustainable and Positive Impact Finance. The Bank aims at contributing EUR 100 billion to energy transition between 2016 and 2020.“