Row rect Shape Decorative svg added to bottom 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 Enabling mining development to support South Africa’s economic growth Absa CIB acts as joint mandated lead arranger, hedge provider, account bank and facility agent for West Wits Mining’s Qala Shallows Gold Project Read more DEALS Backing bold growth in Ghana Across Ghana’s manufacturing and consumer goods landscape, the need to scale efficiently, strengthen local production and remain competitive continues to grow. Read more DEALS Powering South Africa’s energy transition through scalable infrastructure solutions Absa Corporate and Investment Banking partnered with Mulilo Energy Holdings on the financing of the 77MW / 308MWh Hartebeesfontein Battery Energy Storage System (BESS) project, acting as Joint Mandated Lead Arranger, Senior Lender, Hedge Provider and Agent Bank. Read more