European tissue paper maker Sofidel has finalised a medium- to long-term loan agreement with Crédit Agricole Italia to support its ESG goals.
The terms of the loan are linked to the achievement of environmental and social performance targets, the Regina tissue maker added.
The objectives include reducing the intensity of Scope 1 and 2 emissions, decreasing the incidence of conventional plastics in packaging, and setting up related training activities.
The move will help Sofidel to strengthen its financial structure and promote business growth in the international market.
For Crédit Agricole Italia, the deal represents its willingness to be a partner of choice that is attentive to the needs of its customers and promotes the socio-economic development of all territories, in line with the entrepreneurial fabric of the country.
Environmental Conservation
In August, Sofidel and hardwood pulp producer Suzano have announced a three-year pilot project, Together we plant the future, aimed at environmental conservation and restoration and supporting socio-economic development in the Amazon region in Brazil.
In the first phase, the project will help alleviate poverty for around 1,400 family farmers through income-generation projects, including increasing agricultural productivity, beekeeping, and cultivating and commercialising native species, such as açaí berries and babassu coconuts.
In May of this year, Sofidel finalised the acquisition of the Hakle trademark and other brands following clearance from the German Antitrust Authority.
The agreement between Sofidel and Hakle GmbH, originally announced on 29 March, includes consumer brand Hakle (toilet tissue segment), Hakle Feucht (moist toilet tissue segment), Dick&Durstig and Servus (kitchen towel segment).
