60% of Sonae’s investment linked to sustainability goals

 In Companies, News, Shopping Centres, Supermarkets, Sustainable Development

The Portuguese multinational property, supermarket and shopping centre development and management giant Sonae has already linked 60% of its investment finance to green goals.

Both directly and via its companies, the holding has completed a number of very significant financing operations indexed to performance in environmental, social and corporate governance indicators (ESG).
As a result of these initiatives, the group has today made green ESG Linked financing operations worth over €1Bn representing 60% of its medium and long-term financing lines for the companies within the Sonae Group, including lines being used and ones available, with amount in the holding standing now at 92% and at 56% in MC.
According to João Dolores, CFO of Sonae, “in the past 12 months alone we have refinanced over €900 million, with spreads associated to ambitious ESG targets. This has only been possible because at Sony we are committed to responsible growth and we do not hesitate to committing to financial commitments that depend on our impact on people, communities, and the planet”.
The holding’s spreads for these operations are linked to the performance of its companies in reducing CO2 emissions and recycling rates for the residuals produced at its shopping centres.