DEALS Facilitating a responsibly innovative and sustainable future Absa | Corporate and Investment Banking > Insights and Events > Facilitating a responsibly innovative and sustainable future SHARE We are proud to have acted as Sole Sustainability Coordinator for Sappi’s ZAR2 billion five-year sustainability-linked revolving credit facility. A world-class renewable resources manufacturer deserves world-class sustainable finance solutions. Our understanding of Sappi’s business growth ambitions and extensive industry knowledge resulted in a seamless execution process to support them and their aspirations. The facility enabled Sappi to link its local revolving credit facility to globally and locally relevant sustainability targets: sustainability KPIs focused on reducing specific GHG (Scope 1 +2) emissions, ensuring certified fibre is being supplied to Sappi mills, reducing solid waste to landfill for Sappi operations globally, and reducing process water in South Africa, specifically. It is the first sustainability-linked facility in the pulp and paper industry on the continent and demonstrates Sappi’s commitment to achieving its sustainability targets. The facility grants Sappi the liquidity required to fund operations and projects that deliver positive impacts on our environment. "Being a responsible citizen and thinking of the future demonstrate care on how we do business.” Khumbulani Gumede – Senior Banker: Corporate, Global Clients Inbound “At Absa CIB, we believe that true impact can be delivered if we all play a shaping role in society. We are proud to have worked so closely with Sappi in structuring a fit-for-purpose instrument that supports business growth while acknowledging the responsibility we all have to creating a better place for future generations.” Heidi Barends – Head of Sustainable Finance, Absa CIB The bravery to imagine. That’s Africanacity. Contact us for more information https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Powering a sustainable future with Ferroglobe At Absa CIB, we believe that financing critical mineral supply is essential for advancing the Just Energy Transition. Our partnership with Ferroglobe supports the expansion of silicon metal production, which is key to semiconductor chips and solar panels, driving economic growth, job creation and Africa’s role in the renewable energy value chain. Read more DEALS Propelling South Africa’s Just Energy Transition Our landmark project financing contribution towards an R8.8 billion transaction with Red Rocket South Africa (Pty) Ltd reinforces our position as a market leader in renewable energy financing. Read more DEALS Building a more robust green energy landscape South Africa’s green energy sector is poised for significant transformation, with vast untapped investment potential. Our R1.45 billion deal with G7 Renewable Energies and Cennergi Holdings marks a monumental sustainability partnership, highlighting the critical role of finance as a catalyst for advancing renewable energy projects. Read more
