Nokia links its revolving credit to its sustainability goals
Nokia has signed a EUR 1,500 million five-year multicurrency revolving credit facility with two one-year extension options and introduced a sustainability pricing mechanism linking the margin of the RCF to two of Nokia’s key sustainability targets:
1) Reduction of greenhouse gas emissions attributed to Nokia’s operations and;
2) Reduction of greenhouse gas emissions attributed to Nokia’s customers’ use of Nokia’s products
The RCF will replace the EUR 1,579 million revolving credit facility agreement dated 26 June 2015.
Nokia’s sustainability targets include a 41% greenhouse gas emission reduction of its own operations and a 75% greenhouse gas emission reduction arising from the use of sold products by 2030 compared to the 2014 baseline. The margin of the RCF will increase or decrease depending on Nokia’s progress towards reaching these targets.
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Every article published by Converge Digest is researched, curated, fact-checked and editorially reviewed by Jim Carroll, Editor & Publisher. AI-assisted drafting may be used to accelerate production, but all content is reviewed, refined and approved prior to publication.
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