Yara Could Pay Less Interest If It Hits Emissions Targets -- ESG Insight
17 Juli 2019 - 5:58PM
Dow Jones News
Fertilizer producer Yara International signed a $1.1 billion
revolving credit facility that links the interest to be paid with
the company's progress in reducing its CO2 emissions. The
facility's interest rate will be adjusted every year based on
Yara's progress in reducing its carbon intensity, giving the
company a discount on the interest it pays if it reaches its
target--achieving a 10% reduction of greenhouse-gas emissions per
ton of fertilizer produced by 2025. Companies world-wide are under
pressure from authorities and investors to pollute less, and
sustainability-linked loans like this credit facility are one tool
that could motivate them to improve their effect on the
environment. (ricardo.aceves@wsj.com)
(END) Dow Jones Newswires
July 17, 2019 11:43 ET (15:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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