Trafigura vows to slash CO2 emissions with sustainability-linked RCF, but oil activities “business as usual”

Global commodity trader Trafigura is set to secure a new sustainability-linked revolving credit facility (RCF) as it works to cut its carbon footprint and boost renewables, though the firm says it has no plans to shift away from oil in the coming years. Having published its first ever emissions reduction target in a responsibility report last month – which will see the commodity trader work to cut its own direct and indirect emissions by 30% in the next three years – Trafigura is preparing to sign a sustainability-linked RCF in March. In an interview with GTR, Trafigura’s Laurent Christophe, group treasurer at the Swiss-based trader, says the company will ink a new sustainability-linked multi-currency RCF in late March with two separate tranches. The deal will refinance an existing one-year European multi-currency RCF and extend a three-year RCF, and is expected to have a total value of US$5.5bn. Christophe declined to name the banks that are taking part, but says the RCF will include 50 banks that are broadly similar to those involved in previous years. He explains that the RCF isn’t asset-based but is linked to three overarching key performance indicators (KPIs) of its operations, which include cutting greenhouse gas… continue reading

Continue reading Trafigura vows to slash CO2 emissions with sustainability-linked RCF, but oil activities “business as usual”. This article appeared first on CTRM Center.

Source: CTRM Center

Related Posts

Leave a reply