Borregaard enters into a ten-year sustainability agreement with NIB

2022-04-07

Apr. 1, 2022 - Borregaard has entered into a ten-year sustainability-linked loan agreement with the Nordic Investment Bank (NIB).

The USD 50 million loan will contribute to financing Borregaard’s investments to reduce CO2 emissions and water effluents.

NIB and Borregaard have agreed on three key performance indicators (KPIs) to be achieved. The KPIs are closely linked to Borregaard’s sustainability strategy.

The margin under the loan agreement can be adjusted based on Borregaard’s progress on:

1. Borregaard's 2030 target of reducing greenhouse gas emissions (Scope 1 and 2) as approved by the Science Based Target initiative

2. Reduce emissions of organic compounds to the Glomma River to targeted levels and

3. Reduction of the Group’s total recordable injuries.