Eni, ELITE, illimity Bank launch innovative financial tool dedicated to the energy transition

Eni, ELITE, illimity Bank launch innovative financial tool dedicated to the energy transition

(PRESS RELEASE) SAN DONATO MILANESE, 25-Nov-2021 — /EuropaWire/ — Eni (BIT: ENI), an Italian multinational energy company with focus on innovation, efficiency and accessibility for all, has announced the launch of an innovative financial tool “Basket Bond – Sustainable Energy” programme aimed at the energy transition together with ELITE, part of the Borsa Italiana Group/Euronext, and illimity Bank, a high-tech banking group. Eni will thus further strengthen its commitment towards an equitable and inclusive energy transition in order to accelerate the growth and development of the supply chain.

The “Basket Bond – Sustainable Energy” programme is the first innovative financial tool aimed at all companies within the integrated energy chain, especially focused on SMEs and dedicated to sustainable development goals; companies who qualify for the programme will access to financial resources – on favourable terms according to their current and expected sustainability profile – to be used in projects and investments for the achievement of the United Nations Sustainable Development Goals. Therefore, companies committed to a fair energy transition path and aiming to improve their own industrial processes and business models will be able to support, for example, tangible initiatives such as the renewal of plants for better energy efficiency and improvement of environmental impacts, access to renewable energy sources, sustainable mobility, the adoption of circular economy models, the safeguarding of employee’s health and safety, the creation of new skills and provision of related training.

The programme is developed by Eni, ELITE and illimity that, acting as arranger, will be responsible for the organisation of the operations and the definition of its financial aspects, supporting the companies involved in issuing and placing the bonds.

Eni has built a business model that puts sustainability at the heart of all corporate activities, including its financial strategy, believing that the development and use of financial tools linked to sustainability can contribute to the promotion of the energy transition process for the achievement of a low-carbon future.

ELITE has always been committed, both in Italy and abroad, to supporting the sustainable growth of small and medium sized companies, which are fundamental economy assets and, thanks to this projects, will also support the supply chains and invest in the Italian entrepreneurial fabric in order to create more robust companies able to innovate and compete at an international level.

With this new project, illimity will provide an additional financial tool for all companies with sustainable development plans, by offering them favourable conditions according to their sustainability profile, thus strengthening its ESG strategy to support small and medium sized enterprises.

With the “Basket Bond – Sustainable Energy” programme, Eni further strengthens its sustainability strategy and its commitment to involve the entire supply chain in the achievement of the United Nations Sustainable Development Goals (“UN SDGs”) and of a fair and inclusive transition.

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SOURCE: Eni