Atlantia publishes its first Sustainability-Linked Financing Framework
CET 18.31 Rome, 10 November 2022 - Atlantia has further reinforced the centrality of ESG issues in our business strategy by adopting a Sustainability-Linked Financing Framework, embedding sustainability in the Company’s financing strategy in response to the growing importance of such concerns for global investors. The Company has adopted the framework to connect fundraising with the business goals and growth targets set out in the Sustainability and Climate Action plans. The latter was approved by shareholders on 29 April of this year following the first ever Say On Climate vote to be held in Italy, with over 98% of shareholders voting in favour of the plan.
Atlantia is the first European holding company to adopt such a tool, setting out clear commitments and specific, measurable targets for all our activities. This will enable us to constantly monitor the progress of the programmes and initiatives involved in preparing our infrastructure and mobility assets for the energy transition.
The framework – drawn up with the support of Crédit Agricole CIB acting as Sustainability Structuring Advisor – is designed to be applicable to a range of financial instruments (including bank borrowings and bonds), whose cost will vary depending on the level of progress towards achieving specific ESG targets.
The Sustainability-Linked Financing Framework, which has been certified by the independent agency, Sustainalytics, is based on five clearly measurable and strategically important key performance indicators (KPIs) covering the environmental and social sustainability of the Group’s operations. In this sense, cuts in direct CO2 emissions have a major role to play, with the aim of achieving a 50% reduction across all our activities by 2030, in line with the goal set by COP26 to keep the temperature rise to within 1.5°.
In addition to this target, two further metrics measure the effectiveness of our overall decarbonisation strategy, relating to cuts in the indirect emissions of our two most important subsidiaries, Abertis and AdR, and a long-term commitment to preparing our assets for the energy transition to limit global warming and thus combat climate change.
The framework also includes a metric regarding the progressive use of renewable energy and the accompanying abandonment of fossil fuels.
In social terms, Atlantia reaffirms our commitment to taking concrete steps to promote gender equality in the infrastructure sector, above all at senior management level.
Sustainability is a driver of economic and financial value creation. Its full integration within the Company’s financing strategy marks a major step in achieving Atlantia’s aim of making a real contribution to the energy transition in the mobility sector and to making progress on gender equality at work, based on a structured, detailed approach incorporating environmental, social and governance factors in the key processes involved in creating value for the Company and our stakeholders.