Damm reported on Tuesday the signing of financing lines for a total amount of 200 million euros with Banc Sabadell, CaixaBank, Santander and BBVA , which will be used to finance general corporate needs and reinforce sustainability initiatives and projects.
As the company has explained, Damm thus closes its first sustainable financing with which it renews its financing lines and which incorporates sustainability criteria in its “commitment” to promoting projects that allow it to minimize the environmental impact of its activity.
Damm, chaired by Demetrio Carceller Arceand committed to promoting actions that promote the achievement of the 17 Sustainable Development Goals established by the UN, assures that with this opening of financing lines “it reinforces its commitment to promoting projects that allow it to continue advancing in its fight for minimize the environmental impact of its activity “.
Damm’s management specifies that the financing “will be linked to the achievement of certain sustainability objectives, such as reducing the weight of non-recoverable waste generated each year based on the hectoliters produced and increasing energy production. green for self-consumption from the company’s production centers “.
Damm assures that it is currently the national brewery with the highest power generation capacity for self-consumption. The investments made in recent years have allowed the company to have solar installations for self-consumption in its factories and to promote an innovative project to generate electricity for self-consumption from biogas generated during wastewater treatment.
Last year, the company reaffirmed its commitment to the environment with the creation of a Sustainability Committee that will help promote even more initiatives within the sustainable and responsible business model promoted by Damm in order to achieve a positive contribution to our environment. short and long term.
Said Sustainability Committee is in charge of ensuring the continuous improvement of environmental indicators, as well as compliance with the commitments acquired by the different Damm companies in this matter.
Damm expects to exceed 2,000 million euros in turnover in 2025. This is stated in its new strategic plan presented during the last shareholders’ meeting of the company. The accounts for the 2020 financial year were also approved, the year in which it recorded a turnover of 1,225 million euros, with a net profit of 40.5 million.
Demetrio Carceller Arce, executive president of Damm, assured that the objective in the coming years is “to expand the number of markets in which Damm operates, the reinforcement and positioning of the company’s brands and products and an increase in efficiency”.
Banking and sustainability
The banks support Damm and also reinforce the diversification of their credit operations around sustainability. Thus, Banco Sabadelluntil May has formalized more than 3,240 million euros in sustainable financing, including mainly Corporate and Project Finance financing, as well as more than 300 million euros in loans with eco-purpose (mortgages, loans, renting and leasing), and about 1,850 million euros in loans that had a social purpose.
In 2020 Sabadell participated in more than 50 sustainable financing operations for an amount exceeding 16,400 million euros. In addition, it carried out three issues worth 1,120 million euros linked to ODS, provided institutional financing for renewable energy projects, and was one of the sustainable bond issuers to finance different public administrations.
CaixaBankfor its part, in 2020 mobilized more than 12,000 million euros in sustainable financing, with more than 2,000 million euros formalized in green financing and more than 3,000 million formalized in financing linked to ESG variables, where the objectives on environmental variables stand out, such as reducing emissions or energy efficiency.
In addition, CaixaBank has participated in the issuance of 13 green, sustainable or social bonds, with a global amount of 7,500 million euros. As of May 2021, the entity has issued seven bonds to support the UN Sustainable Development Goals, and is the European bank with the highest volume of ESG bond issues in euros with a total of four green bonds and three social bonds, with a combined value of 6,000 million euros and 500 million pounds.
Banco Santander has set several objectives, including facilitating more than 120,000 million euros in green financing from 2019 to 2025 and the financial inclusion of more than 10 million people in the same period.
The BBVA has announced that it will reduce to zero its exposure to activities related to coal, leaving finance companies in these activities, by 2030 in developed countries before 2040 in other countries in which it operates . BBVA has mobilized 59,000 million euros (until March 2021) in sustainable finance, more than half of the 100,000 million euros committed between 2018 and 2025 to fight against climate change and promote inclusive growth.
Peter Barzilai is a high school pitcher and college rower turned longtime World News journalist. Peter has also written for Buzz Feed and Huffington Post and many other major publications, Peter Loves everything about sports and loves to write on trending topics and he is NewsBUR member since 2017.