In a move supporting green investment and sustainability, the European Bank for Reconstruction and Development (EBRD) has approved a EUR 64.5 million loan to Sofidel S.p.A., a leading manufacturer of tissue paper products. The loan will support Sofidel’s investment program for 2024-2026 across Romania, Hungary, and Poland.
The funding will facilitate Sofidel’s efforts to meet its 2030 climate targets, which align with the Science-Based Targets Initiative (SBTi). Specifically, 67% of the EBRD loan will be allocated to green investments, including the installation of photovoltaic (PV) panels and the development of production facilities with green building certifications.
The EBRD financing will be used for several key initiatives: generating renewable energy through PV panels in Romania and Poland and constructing or extending production facilities with green certifications in Romania and Hungary. These investments are part of Sofidel’s broader Green Economy Transition (GET) strategy, which emphasizes sustainability and environmental responsibility.
The EBRD’s support is seen as instrumental in advancing Sofidel’s sustainability agenda, with a significant focus on green quality. The transition impact of the project has been rated highly, reflecting the project’s commitment to green building standards and renewable energy.
Sofidel S.p.A., headquartered in Italy, is a major producer of tissue paper products including toilet paper, paper towels, and napkins. The company has made substantial progress in integrating sustainability into its corporate strategy, including setting science-based targets and enhancing its supply chain practices.
The project is categorized as Environmental and Social Category B, meaning that potential impacts are site-specific and can be mitigated. The EBRD’s due diligence included a review of Sofidel’s sustainability reports and capex plans, confirming the company’s capability to implement the project in accordance with the Bank’s Performance Requirements.
The loan will be disbursed over a long tenor of seven years, underscoring the EBRD’s commitment to supporting Sofidel’s green initiatives and reinforcing the company’s efforts to reduce its environmental footprint.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
