RS Group has announced the signing of a sustainability-linked loan (SLL), which further strengthens the company’s commitment to its 2030 environmental, social and governance (ESG) action plan.
The refinanced SLL has increased from £300 million to £400 million, and its maturity is extended to five years at similar terms to the previous loan that was agreed in October 2021. It is directly linked to the achievement of three of the Company’s most material 2030 ESG actions. These are the reduction of its direct carbon emissions (Scope 1 and 2 CO2 emissions), packaging intensity, and the percentage of management that are women.
RS launched its 2030 ESG action plan – For a Better World – in November 2021 with the ambition to play a key role in helping to address some of the world’s biggest challenges – from tackling climate change, to building engineering and innovation skills, and championing diversity and inclusion. For a Better World has four goals to be achieved by 2030 focused upon: advancing sustainable operations; championing education and innovation; empowering people; and doing business responsibly.
“We are delighted to have realised this sustainability-linked loan once more,” said Andrea Barrett, VP Social Responsibility and Sustainability at RS Group.
“Not only does it remove future refinancing risk during these economically volatile times, it also directly supports our 2030 ESG action plan to be a more sustainable and responsible business – both for our company and our industry. We are proud to have made significant progress against the three ESG KPIs related to our sustainability-linked loan.”