BBVA granted sustainable financing for a total amount of 10,350 million pesos to Cementos Avellaneda, linked to key sustainable performance indicators (“ESG KPI-Linked”). These funds are specifically targeted at equity investments that meet sustainability goals (ESG). The cement company is committed to reducing net CO2 emissions and increasing thermal substitution in Clinker kilns through alternative fuels, in the period 2024-2027.
“BBVA is proud to be able to support Cementos Avellaneda with sustainable financing because it is a company that is extremely committed to caring for the environment. We are pioneers in granting ‘KPI-linked’ loans by linking the loan interest rate to the fulfillment of sustainable KPIs. With this type of financing with an ESG structure, we promote the decarbonization of production processes with the aim of accompanying our clients in transitioning towards a greener and more sustainable world,” he noted. Veronica Inceradirector of Corporate & Investment Banking at BBVA in Argentina.
“The commitment to caring for the environment and the sustainability of our operations is intrinsically linked to our activity model, committed to managing and carrying out our industrial activities in a sustainable manner aligned with the Sustainable Development Goals promoted by the UN. Obtaining this type of loan linked to sustainability goals reaffirms once again our commitments in this matter, helping us finance projects on our sustainability roadmap,” he said. Rodrigo MenendezDirector of Finance and Administration of Cementos Avellaneda SA
The Loans Linked to Sustainability are all types of loan instruments that encourage the borrower’s achievement of material, quantitative, predetermined, ambitious, regularly monitored, and externally verified sustainability objectives (ESG). In that sense, borrowers explicitly commit to future improvements in their sustainability performance within a predefined time frame.
“ESG KPI-Linked” loans are certified in the BBVA Sustainable Transactional Banking Framework and aligned with the Sustainability Linked Loan Principles (SLLPs), established by the Loan Market Association ( LMA), Loan Syndications and Trading Association (LSTA) and Asia Pacific Loan Market Association (APLMA).
BBVA accompanies its clients on their path towards sustainability
BBVA aims to accompany and help its clients move towards a more sustainable world. To achieve this, it has placed sustainability at the center of its business and is one of its six strategic priorities to address three major challenges: fighting climate change, conserving natural capital and promoting inclusive growth.
Through its 2025 Commitment, BBVA has committed to mobilizing €300 billion in green financing, sustainable infrastructure and agribusiness, entrepreneurship and financial inclusion, during the period 2018-2025.
