PORCARI, Italy
,
September 1, 2023
(press release)
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Sofidel, one of the world’s leader in the manufacturing of paper for hygienic and domestic use, best known for its Regina brand, has finalized with Crédit Agricole Italia (CAI), a banking player that operates across Italy with all business lines at the service of 5.9 million customers, a medium- to long-term loan to support the development of the paper sector in favor of environmental protection. The loan provided by CAI, whose terms are linked to the achievement of environmental and social performance targets, denotes the Bank’s willingness to be a partner of choice that is attentive to the needs of its customers and, at the same time, will enable the Group to strengthen its financial structure and promote business growth in the international market with greater respect for the environment and a particular focus on ESG principles. The objectives included and monitored for the success of the operation are reducing the intensity of Scope 1 and 2 climate-changing emissions, decreasing the incidence of conventional plastics in packaging, and setting up related training activities. For Sofidel, this transaction fits in as a continuation of the company’s business activities that place the development of social and environmental aspects at the center, geared toward fostering a low-carbon economy capable of creating shared value for all stakeholders and the local area. Furthermore, for Crédit Agricole Italia, the transaction demonstrates the concrete commitment to promote the socio-economic development of all territories, acting in synergy with the entrepreneurial fabric of the country, so as to promote inclusive growth for the benefit of the communities.
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