EIB sign 300 million euros loan from a Swedish hygiene and health company Essity AB in support of the latter’s product research, development and innovation (RDI).
This financing supports RDI activities with a focus on product innovation for well-being and the sustainability of the company’s production processes.
Essity will carry out activities related to EIB financing at several of its European locations, including in Sweden, France and Germany.
Swedish global hygiene and health company Essity AB will fund its research, development and innovation (RDI) program with European support. The company signed one 300 million euros loan agreement with European Investment Bank (EIB) today. Essity will use the funding for its RDI investments related to personal care, consumer tissue and professional hygiene products.
In addition to focusing on improving consumer well-being, RDI will also focus on product innovation and sustainability in manufacturing processes. One focus area is women’s care, there Essity researches products that better suit women’s requirements while at the same time examining and mapping their experiences and body perceptions.
“We are pleased with the EIB’s support for our comprehensive innovation process, which focuses on increasing the well – being of people everywhere as we continue our journey to reach net greenhouse gas emissions by 2050,” he said. Magnus Groth, President and CEO of Essity.
EIB Vice President Thomas Ostros said: “Gender equality and the empowerment of women and girls mean addressing a number of societal issues. This includes not only access to health and hygiene products for women and girls around the world, but also to ensure that they can take part in society without hindrance. Essity places great care on researching and designing its products. With regard to the RDI that we support here, we expect that one of the long-term benefits will be economically accessible and environmentally sustainable products, which give women and girls equal opportunities in areas such as access to education and other areas of everyday life. . ‘
As part of the funded activities, Essity will continue to invest in sustainability innovation aimed at reducing greenhouse gas emissions and contributing to a circular economy. Essity has committed to zero emissions of greenhouse gases by 2050.
The company also continuously implements digital solutions in certain areas, which leads to lower consumption of raw materials. In 2021, Essity became the first company in the tissue industry to use agricultural residues for sustainable tissue production on an industrial scale. Essity is already investing heavily in the development of a recycling service for paper towels in commercial / public areas, which shows its commitment to a circular economy.
Background information:
In 2020, the EIB did more than 2 billion euros available for Swedish projects. The EIB lends money on the capital markets and lends them to projects that support EU objectives, where around 90% of all loans are granted within European Union.
Essity is a leading global hygiene and health company dedicated to improving well-being through its products and services. Sales are conducted in approximately 150 countries under the leading global brands TENA and Tork, and other strong brands such as JOBST, Leukoplast, Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa. Essity has approximately 46,000 employees. Net sales in 2020 amounted to approx SEK 122 billion (11.6 billion euros). The company’s headquarters are located in Stockholm, Sweden, and Essity is listed on Nasdaq Stockholm. Essity breaks barriers to well-being and contributes to a healthy, sustainable and circular society.
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