Incorporating sustainability in financing. We lead the way!
The interest rates of our ‘Sustainability Schuldschein’ and our syndicated loan partly depend on our sustainability performance: ecologically and socially responsible business operations will be rewarded through lower interest rates. We lead the way in using this interest rate mechanism!
The sustainability rating is published by the EcoVadis rating agency. We currently have a sustainability score of 55 points, which corresponds to a Silver ranking. If we improved our score at least to 62 points, we would lower our interest rate by 2 basis points. If, on the other hand, our sustainability score dropped to 40 points or less, our interest rate would increase accordingly.
The differently weighted fields of environment, labor and human rights as well as integrity and procurement make up 21 assessment criteria, adding up to a maximum score of 100 points. Some of the aspects taken into account are energy and water consumption, CO2 emission as well as anti-corruption and social practices of suppliers. In our industry, we are among the top 25% of all the companies rated by EcoVadis.
- We were the world’s first company to issue a sustainability-oriented Schuldschein loan in June 2019 in the amount of € 200 million.
- We issued another sustainability Schuldschein in the amount of € 115 million in March 2020.
- Interest rates depend on our sustainability performance as assessed by the EcoVadis rating agency.
- The interest rate is linked to the sustainability rating published by EcoVadis.
- Term: until August 7, 2024