(Boursier.com) – Frey matches all of its corporate financing currently in place with ESG performance criteria (environmental, social and governance). This adjustment of all of the Group’s corporate debt comes after the inaugural signing on November 10 of two medium-term financing lines with ESG performance criteria for a total amount of 150 million over 5 years with its historical banking partners. .
Frey therefore amended its existing contracts (total outstandings of 520 ME) to transform them into responsible lines. Responsible bank loans with a CSR component represent 100% of the Group’s corporate financing. The amended financial conditions are thus linked to compliance with 4 major CSR commitments made by Frey by 2030, which are:
– Continued investment and exploitation in sustainably managed French forests through FoREY, its forestry group created in 2020;
– Obtaining environmental certifications;
– The development of low-carbon mobility aimed at reducing greenhouse gas (GHG) emissions (scope 3) of assets in the portfolio, by setting up charging stations for electric and hybrid vehicles with a target of 5% of the total number of parking spaces in 2025 and 10% in 2030;
– Maintaining the “B Corp” certification obtained in 2021.
This development is in line with the Group’s responsible credit strategy launched in 2021 and confirms its sustainable financing policy. This amendment enables Frey to accelerate its objective of strengthening the Group’s liquidity with the implementation of its ESG commitments.
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