Metso Outotec has signed an agreement with the Nordic Investment Bank (NIB) for an eight-year €100 million ($112.98 million) to improve its development of environmentally friendly technologies.
According to the company, the loan is linked to "mutually agreed sustainability targets" that relate not only to its own operations but also to its supply chain partners.
Metso Outotec and the NIB have included three sustainability-related targets to the loan: reducing CO2 emissions from the Group's own operations, reducing CO2 emissions from its logistics, and maintaining a science-based CO2 emissions reduction target.
Andre Kuusvek, president and chief executive officer of the NIB, said the loan would finance Metso Outotec's sustainability ambitions and contribute to its cut carbon emissions.
"Linking financing to sustainability objectives effectively supports companies in integrating sustainability into their strategy and achieving ambitious goals," Kuusvek said.
Feva Sipila, the chief financial officer of Metso Outotec, said the company was committed to the environmental footprint of its own operations and in its logistics and supply chain.
"We are further underlining this commitment with sustainable funding. I am delighted with the good cooperation with NIB in designing this sustainability-linked loan agreement," Sipila said.
"Reducing CO2 emissions is fundamental for us all to limit global warming to 1.5 degrees. Together with NIB, we have truly built an industry-leading example of sustainable financing."
