NIB signs its first sustainability-linked NIB loan with Electrolux Professional

NIB and Electrolux Professional AB have signed a seven-year EUR 60 million sustainability-linked loan. This is NIB’s first sustainability-linked loan agreement, creating financial incentives for the customer to further strengthen its climate efforts. The loan is related to Electrolux Professional reducing its CO2 emissions from operations and water use in professional laundry and ware-washing products, as well as decreasing the use of HCF cooling gases in products sold by 2025.

Electrolux Professional (EPRO) plans to become climate neutral in its own operations by 2030. The target will be reached by improving energy efficiency and increasing the use of renewable energy sources in manufacturing. EPRO also has the ambition to reduce hydrofluorocarbons (HFCs) in its products. HFCs are cooling gases, classified as refrigerants with high global warming potential.

The NIB and Electrolux Professional have agreed on three key performance indicators (KPIs) to be achieved by the end of 2025, with 2019 as a base year. The KPIs are core to EPRO’s sustainability strategy and addresses 1) climate targets related to reducing CO2 emissions and 2) business-specific target linked to water consumption efficiency in products sold, as well as 3) the decrease of HFC gases in products.

EPRO’s main environmental impact occurs during the product-use phase (energy, water, detergents), which is why developing new energy-efficient products with a low water consumption is a priority for EPRO.

“Sustainability is a key part of our strategy, culture and day-to day operations. This sustainability-linked loan confirms that our sustainability targets and strategy is relevant, ambitious and credible,” says Alberto Zanata, President and CEO of Electrolux Professional AB.

“NIB’s first sustainability-linked loan will finance the transition of Electrolux Professional’s operations to become more sustainable, contributing to the transition towards a low-carbon economy,” says André Küüsvek, President and CEO of NIB.

Electrolux Professional was separated from the Electrolux Group and listed on the Nasdaq Stockholm Stock Exchange in March 2020. Electrolux Professional offers food, beverage, and laundry products and solutions to restaurants, cafés, hotels, laundries, etc. The company has 11 manufacturing facilities in the USA, Sweden, Italy, Switzerland, France, China, and Thailand, and has a total of some 3,500 employees.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Nicolas Audibert, Director, Lending, at +358 10 618 0689, nicolas.audibert@nib.int

Arild Moen, Communications Manager, at +358 10 618 0496, arild.moen@nib.int