16 January 2023
Lucart and Intesa Sanpaolo: ESG targets drive interest rate hedging
Lucart has renewed its partnership with Intesa Sanpaolo signing a hedging agreement against the interest rate risk linked to achieving ESG (Environmental, Social and Governance) targets.
The hedging strategy of the new agreement includes a sustainable performance incentive mechanism. If the ESG targets are not met, Lucart will donate to a non-profit organisation or association identified by both parties for social and sustainable projects or initiatives.
The agreement aims at rewarding Lucart’s virtuous behaviour on sustainability issues and marks a new stage in the collaboration with the bank after recently signing a EUR 10 million loan to be invested to support sustainability and the circular economy.
“Today, a large proportion of Lucart Group's financial instruments are linked to ESG targets", said Andrea Fano, Chief Financial Officer of the Lucart Group. "We were very pleased to study the product with the Intesa Sanpaolo team and sealed an innovative transaction that will allow us to consolidate our commitment to ESG issues.".
Press Office Lucart c/o BPRESSlucart@bpress.it
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