EnergyWatch

Commodity trader Gunvor ties new credit line to green targets

Interest on a new loan to Swiss-based Gunvor Group is dependent on how the commodity trader meets a series of environmental targets such as reducing CO2 emissions, waste management and improving transparency.

Swiss commodity trader Gunvor Group has secured a new credit facility of USD 745 million.

A remarkable feature of the loan is that the interest rate may increase or decrease depending on whether sustainability targets are achieved. Such targets relate to, for instance, reduction of CO2 emissions, waste and water management, safety improvements for refinery staff as well as transparency concerning the original of raw materials.

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