Lassila & Tikanoja announces a sustainable bond
Lassila & Tikanoja plc
Stock Exchange Release
6/5/2022 at 9:30 AM
Lassila & Tikanoja announces a sustainable bond framework
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Lassila & Tikanoja plc has launched the Sustainability Linked Bond Framework and the company is considering issuing new fixed-rate bonds within it. The economic characteristics of the bonds are related to the achievement of two sustainable development goals, which are the reduction of L & T’s own greenhouse gas emissions (scope 1 and 2) and the fuel consumption of contractors’ transport (scope 3).
The Sustainability-Linked Bond Framework has been assessed by Sustainalytics, another commentator, confirming compliance with the Sustainability-Linked Bond Principles published by ICMA. Sustainalytics considers the Sustainability Performance Targets in the framework to be ambitious and the related Key Performance Indicators strong *, which is also due to the fact that the direct emissions target has been validated in the Science Based Target Initiative (SBTi).
“Lassila & Tikanoja is proud to be among the first Finnish listed companies to consider issuing bonds tied to sustainability. Our mission is to make the circular economy a reality and sustainable development is at the heart of our strategy. The presentation of the Sustainability Financing Framework and notes emphasizes Lassila & Tikanoja’s deep responsibility. says Valtteri Palin, CFO of Lassila & Tikanoja.
The Sustainability-Linked Bond Framework is based on the material of L & T’s key business indicators and promotes sustainable development improvements that curb climate change. The establishment of the Framework is a follow-up to the recently signed EUR 40 million Stand-By Arrangement for Sustainable Development.
The Sustainability Linked Bond Framework and an external statement from another party are available on L & T’s website at lt.fi/en/investors. Danske Bank acted as the only sustainability structuring advisor in the development of the framework.
* Sustainalytics has evaluated the key performance indicators on a scale of Not Harmonized, Adequate, Strong and Very Strong. The ambition of the key performance indicators is assessed on a scale of Non-uniform, Moderately ambitious, Ambitious and Very ambitious.
Additional information:
Valtteri Palin, CFO, tel. +358 40 734 7749
Lassila & Tikanoja is a service company that implements the circular economy in practice. Together with our customers, we keep materials and properties in productive use for as long as possible and increase the efficiency of the use of raw materials and energy. This creates added value through a circular economy for our customers, our staff and society at large. Achieving this also means increasing value for our shareholders. Our goal is to continuously increase the carbon footprint of our operations, our positive impact on the climate. We carry out our social responsibility, among other things, by taking care of the working capacity of our personnel and also offering jobs to those who have difficulty finding employment. L&T operates in Finland and Sweden. L&T employs 8,100 people. In 2021, the company’s turnover was EUR 812.5 million. L&T is listed on Nasdaq Helsinki.
Distribution:
Nasdaq Helsinki
Main media
www.lt.fi/fi/