Snam Signs €4 billion Sustainability-linked Revolving Credit Line, Targets Reduction of Scope 3 Emissions

Snam has secured a €4 billion sustainability-linked revolving credit facility, the largest in the utilities sector for 2024, to support its roadmap to carbon neutrality by 2040 and net zero by 2050. The facility, tied to climate and diversity KPIs, includes reducing Scope 1, 2, and 3 emissions and increasing gender diversity in leadership roles. Structured in two €2 billion tranches with an option to expand, it enhances Snam’s financial flexibility and aligns with its goal of achieving 85% sustainable financing by 2027. Backed by 24 financial institutions, this initiative highlights Snam’s leadership in sustainable finance and commitment to addressing climate and diversity challenges. Resources: https://esgnews.com/snam-signs-e4-billion-sustainability-linked-revolving-credit-line-targets-reduction-of-scope-3-emissions/