Mundys updates Sustainability-Linked Financing Framework, strengthening commitment to decarbonising value chain
CET 18.59 Rome, 22 December 2023 – Mundys has updated its sustainability-linked financing framework, following certification by the Science Based Target initiative (SBTi), the body providing an international reference point for the assessment of companies' decarbonisation targets. The document marks the full integration of sustainability in the Parent Company’s financing strategy, having been one of the first businesses in Europe to adopt such a tool, at a time when the related issues are of growing importance for global capital markets. The framework connects fundraising with the business goals and growth targets set out in Mundys’s Sustainability and Climate Action plans. The update sees Mundys include over 87% of the direct and indirect emissions produced by the activities of its asset companies across 24 countries. In addition, for the first time in Italy, the new sustainability framework also includes airlines. This means that the 5 airports controlled by Mundys (Fiumicino, Ciampino, Nice, Cannes and Saint Tropez) will take steps to support the decarbonisation pathways of the airlines operating at the Group’s airports. This will involve supplying them with Sustainable Aviation Fuel, introducing types of incentives that reward carriers for sustainable behaviours, or participating in strategic initiatives designed to advance the sector’s transition (such as, for example, the Pact for the Decarbonisation of Air Transport or the World Economic Forum initiative to drive the sector’s decarbonisation, led by Mundys). Last April, Mundys converted €3bn in bank credit facilities into Sustainability-Linked Loans, thanks to adoption of the first Framework. The updated Framework has been rated by the independent agency, Sustainalytics, which considers the Framework to be solid and the targets set by Mundys to be highly ambitious. The framework was updated with the support of Crédit Agricole CIB, acting as Sustainability Restructuring Advisor.