Boliden Pioneers Linking Climate Goals to Financial Agreements in Mining Sector

Boliden Pioneers Linking Climate Goals to Financial Agreements in Mining Sector

(IN BRIEF) Boliden, a leading mining and metals company, has taken a groundbreaking step by integrating climate goals validated by the Science Based Targets initiative (SBTi) into its existing revolving credit facilities agreement (RCF). The RCF, totaling EUR 850 million, now includes Sustainability Performance Targets aligned with Boliden’s ambition to reduce emissions by 42 percent (Scope 1 and 2) and 30 percent (Scope 3) by 2030, based on 2021 levels. This strategic move reflects Boliden’s commitment to sustainability and its vision to become the most climate-friendly metal provider globally. By linking sustainability performance to financial agreements, Boliden aims to enhance competitiveness while advancing its sustainability agenda. Skandinaviska Enskilda Banken AB (publ) played a pivotal role as the sustainability coordinator in structuring these targets, signaling a collaborative effort towards driving environmental responsibility in the mining industry.

(PRESS RELEASE) STOCKHOLM, 3-May-2024 — /EuropaWire/ — Boliden, as one of the first mining and metals companies in the world, has incorporated and linked climate goals validated by Science Based Targets initiative (SBTi) into an existing revolving credit facilities agreement (RCF). The RCF totals EUR 850 m and now includes Sustainability Performance Targets aligned with Boliden’s climate goals, being emission reductions corresponding to 42 percent (Scope 1 and 2) as well as emission reductions of 30 percent (Scope 3) by 2030, base year 2021.

“Base metals are needed for Europe’s transition towards climate-friendly societies. As a provider of these metals, it is essential to remain competitive, while at the same time improve sustainability performance in line with our strategy. To support Boliden’s vision to be the most climate friendly and respected metal provider in the world, we are now pleased to continue on this journey by linking our performance on our sustainability targets to the interest rate of our revolving credit facilities agreement.” says Håkan Gabrielsson, Chief Financial Officer, Boliden.

Compared to the average within the world’s base metal production, Boliden’s CO2e footprint is very competetive. It is, however, of significance to continue to reduce absolute CO2e emissions as well as the CO2e intensity in alignment with our targets and our vision.

Skandinaviska Enskilda Banken AB (publ) acted as the sustainability coordinator to support Boliden in the structuring of the Sustainability Performance Targets.

Metals for generations to come

Boliden’s vision is to be the most climate-friendly and respected metal provider in the world. We are Europe’s producer of sustainable metals and, guided by our values care, courage and responsibility, we operate within exploration, mines, smelters and recycling. We are around 6,000 employees and have annual revenues of approximately SEK 80 billion. The share is listed in the Large Cap segment of NASDAQ OMX Stockholm.

Media Contact:

Klas Nilsson
Director Group Communications
tel: +46 (0)70-453 65 88
klas.nilsson@boliden.com

SOURCE: Boliden Group