UltraTech Cement Secures $500M in Sustainability-Linked Loan

UltraTech Cement Limited has secured $500 million through a sustainability-linked loan, highlighting its commitment to environmental, social, and governance (ESG) goals. This deal, facilitated by six major banks and led by Sumitomo Mitsui Banking Corporation (SMBC) as the sole Sustainability Coordinator, follows UltraTech’s first sustainability-linked financing in 2021. The loan adheres to global sustainability principles and has been validated by S&P Global Ratings. UltraTech’s Sustainability Performance Targets include reducing Scope 1 emissions by 27% by 2032 and achieving 100% green energy by 2050. This financing also supports UltraTech’s recent acquisition of a 32.72% stake in India Cements, expanding its presence in southern India. Resources: https://esgnews.com/ultratech-cement-secures-500m-in-sustainability-linked-loan/