NamasteIndia UltraTech Cement’s achievement:
UltraTech Cement raised $500 million through a sustainability-linked loan.
This financing aligns with their sustainability and ESG (Environmental, Social, and Governance) goals.
The transaction was supported by six Banks.
It marks UltraTech’s second sustainability-linked initiative, following their pioneering bond issuance in 2021.
Their scope1 and scope2 combined emissions intensity remained unchanged at 618.17 kg CO2e/tonne according to their FY24 sustainability report.
other companies in India are embracing sustainable financing strategies.
TheSixBanks:
SumitomoMitsui Banking Corporation (SMBC)
StateBank of India (SBI)
BNPParibas
DBS Bank
MUFG (Mitsubishi UFJ Financial Group)
Mizuho Bank
Other note worthy companies
NamdevFinvest: A rapidly growing NBFC, Namdev Finvest focuses on providing accessible and tailored financing solutions for solar energy projects. Their commitment to financial inclusion and sustainable development positions them as a critical player in driving the adoption of clean energy solutions across India1.
VivritiCapital: Based in Chennai, Vivriti Capital offers innovative debt financing solutions to the renewable energy sector, particularly solar energy projects. By catering to small and medium enterprises (SMEs), they play a crucial role in advancing India’s clean energy goals.
ElectronicaFinance Ltd.: This specialized NBFC primarily provides financing for industrial equipment, including solar power installations. Their customized financial products make solar energy accessible and affordable for small and mid-sized enterprises, promoting sustainable energy solutions
Source / shared link: https://m.economictimes.com/markets/stocks/news/ultratech-raises-500-million-through-sustainability-linked-financing/articleshow/112810621.cms
Originally published on LinkedIn on 2024-08-26 13:09:24: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7233822846232256512
