Boliden incorporates validated climate goals in sustainability linked credit facilities agreement

Rhea-AI Summary

Boliden, a leading mining and metals company, has integrated climate goals validated by the Science Based Targets initiative into its existing credit facilities agreement. The agreement now includes sustainability targets for emission reductions by 2030, aligning with Boliden's vision to be a climate-friendly metal provider.

Positive

• Boliden is one of the first mining companies to incorporate validated climate goals into its credit facilities agreement.

• The agreement includes emission reduction targets aligned with Boliden's sustainability strategy, showing the company's commitment to environmental responsibility.

• Boliden's CO2e footprint is competitive compared to global base metal production averages, highlighting its eco-friendly practices.

Negative

• None.

STOCKHOLM, May 2, 2024 /PRNewswire/ -- Boliden, as one of the first mining and metals companies in the world, has incorporated and linked climate goals validated by Science Based Targets initiative (SBTi) into an existing revolving credit facilities agreement (RCF). The RCF totals EUR 850 m and now includes Sustainability Performance Targets aligned with Boliden's climate goals, being emission reductions corresponding to 42 percent (Scope 1 and 2) as well as emission reductions of 30 percent (Scope 3) by 2030, base year 2021.

"Base metals are needed for Europe's transition towards climate-friendly societies. As a provider of these metals, it is essential to remain competitive, while at the same time improve sustainability performance in line with our strategy. To support Boliden's vision to be the most climate friendly and respected metal provider in the world, we are now pleased to continue on this journey by linking our performance on our sustainability targets to the interest rate of our revolving credit facilities agreement." says Håkan Gabrielsson, Chief Financial Officer, Boliden.

Compared to the average within the world's base metal production, Boliden's CO₂e footprint is very competetive. It is, however, of significance to continue to reduce absolute CO₂e emissions as well as the CO₂e intensity in alignment with our targets and our vision.

Skandinaviska Enskilda Banken AB (publ) acted as the sustainability coordinator to support Boliden in the structuring of the Sustainability Performance Targets.

For further information, please contact:
Klas Nilsson
Director Group Communications
+46 70 453 65 88
klas.nilsson@boliden.com

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Press release

 

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SOURCE Boliden

FAQ

What are the climate goals Boliden has incorporated into its credit facilities agreement?

Boliden has integrated emission reduction targets validated by the Science Based Targets initiative, aiming for a 42% reduction (Scope 1 and 2) and a 30% reduction (Scope 3) by 2030.

How does Skandinaviska Enskilda Banken AB support Boliden in the sustainability performance targets structuring?

Skandinaviska Enskilda Banken AB acted as the sustainability coordinator to assist Boliden in developing the Sustainability Performance Targets.

Who is Håkan Gabrielsson in relation to Boliden's announcement?

Håkan Gabrielsson is the Chief Financial Officer of Boliden, emphasizing the company's commitment to aligning financial performance with sustainability goals.