Finland. Elisa Corporation
| Date of agreement: | 10 Apr 2024 |
|---|---|
| Country: | Finland |
| Customer: | Elisa Corporation |
| Amount in EUR: | EUR 100 million |
| Maturity: | 7 years |
| NACE sector / loan type: | Post and telecommunications |
This loan is linked to ambitious key performance indicators agreed with our customer.
Project
The loan has been provided to Finnish Elisa Oyj for financing investments in 5G and optic fibre access to increase capacity and coverage in Finland and Estonia.
The interest rate margin on the sustainability-linked loan is tied to Elisa’s climate targets of reducing greenhouse gas (GHG) emissions and the development in access to highspeed connection.
The agreed sustainability targets address:
- KPI 1: A reduction of absolute Scopes 1 and 2 GHG emissions by 42% from the baseline year 2021 (8 225 t CO2e)
- 12.2026: -36% from baseline
- 12.2028: -39% from baseline
- 12.2030: -42% from baseline
- KPI 2: A reduction of absolute Scope 3 GHG emissions by 42% in the purchased Services and Goods categories from the baseline year 2021 (140 994 t CO2e)
- 12.2026: -16% from baseline
- 12.2028: -29% from baseline
- 12.2030: -42% from baseline
- KPI 3: A decrease in the population without highspeed connections (min. 100 mb/s, both mobile and fixed) in Finland and Estonia, with a target of 1% by 2030.
The climate-related KPIs have been validated by the Science Based Targets initiative (SBTi) for the 1.5 °C alignment pathway. As its near-term target, Elisa aims to reduce absolute Scopes 1, 2 and 3 GHG emissions by 42% by 2030 from a 2021 base year. As its long-term target, Elisa will reduce absolute Scopes 1, 2 & 3 GHG emissions by 90% by 2040 from a 2021 base year.
The target achievements are reported annually, and NIB will follow up the selected key performance indicators with the client.
Elisa offers telecommunications and digital services. They provide solutions for over 2.8 million consumer, corporate and public administration customers in the core markets of Finland and Estonia, as well as in over 100 countries internationally. In 2023, Elisa employed 5,700 people in more than 20 countries.
Fulfilment of NIB's mandate
Productivity:
The roll-out of 5G and access to fibre optic will improve the mobile and fixed network capacity and coverage. The investments are needed to reach customers in rural areas and offer a resilient infrastructure.
Environment:
Elisa’s climate targets will contribute to climate change mitigation, and for the company, it is a highly material part of its impact on society. Elisa’s climate strategy follows the decarbonisation trajectory, consistent with the aim of limiting global warming to 1.5 °C. Elisa is committed to reaching net-zero greenhouse gas emissions across the value chain by 2040.
