Birla Carbon closes first sustainability-linked loan of $750 mn
Earlier in 2021, Birla Carbon announced the launch of the Continua brand of Sustainable Carbonaceous Materials (SCM) and its target to achieve net-zero carbon emissions by 2050.
- Dec 21, 2021,
- Updated Dec 21, 2021 2:42 PM IST
Birla Carbon, the manufacturer of carbon black solutions announced a $750 million sustainability-linked loan (SLL) with at least 15 banks. The proceeds from the loan will refinance Birla Carbon’s existing debts.
“Birla Carbon has been a pioneer in Sustainability practices both within the carbon black industry and the Aditya Birla Group. This Sustainability Linked Loan facility challenges the organization further to continuously explore sustainable and innovative solutions which will support our goals and that of our customers,” said Santrupt B Misra, Group Director, Birla Carbon.
The ANZ Group is the sole sustainability coordinator for this deal.
Earlier in 2021, Birla Carbon announced the launch of the Continua brand of Sustainable Carbonaceous Materials (SCM) and its target to achieve net-zero carbon emissions by 2050.
“Sustainability and innovation are two of Birla Carbon’s key pillars responsible for our leadership in the industry. Pursuing the goal of sustainable business growth, aligned with our purpose (to Share the Strength), has brought immense synergies of shared aspirations with all our business partners and stakeholders,” said John Loudermilk, Chief Executive Officer, Birla Carbon.
Key KPI’s to the facility include; direct CO2 intensity, bringing circular products to market, and an external rating of sustainability.
Pivoting on carbon emissions and circularity, the structure emphasizes the business’s two most relevant sustainability aspects while encompassing the broader ESG canvas through a sustainability rating, the company said in a statement.
Birla Carbon, the manufacturer of carbon black solutions announced a $750 million sustainability-linked loan (SLL) with at least 15 banks. The proceeds from the loan will refinance Birla Carbon’s existing debts.
“Birla Carbon has been a pioneer in Sustainability practices both within the carbon black industry and the Aditya Birla Group. This Sustainability Linked Loan facility challenges the organization further to continuously explore sustainable and innovative solutions which will support our goals and that of our customers,” said Santrupt B Misra, Group Director, Birla Carbon.
The ANZ Group is the sole sustainability coordinator for this deal.
Earlier in 2021, Birla Carbon announced the launch of the Continua brand of Sustainable Carbonaceous Materials (SCM) and its target to achieve net-zero carbon emissions by 2050.
“Sustainability and innovation are two of Birla Carbon’s key pillars responsible for our leadership in the industry. Pursuing the goal of sustainable business growth, aligned with our purpose (to Share the Strength), has brought immense synergies of shared aspirations with all our business partners and stakeholders,” said John Loudermilk, Chief Executive Officer, Birla Carbon.
Key KPI’s to the facility include; direct CO2 intensity, bringing circular products to market, and an external rating of sustainability.
Pivoting on carbon emissions and circularity, the structure emphasizes the business’s two most relevant sustainability aspects while encompassing the broader ESG canvas through a sustainability rating, the company said in a statement.