The banks support an innovative loan linked to sustainable development for Sopra Steria

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In April, Sopra Steria, the European technology, consulting and digital services company, signed an innovative credit line of 1.1 billion euros, arranged by Crédit Agricole CIB and LCL, a retail banking subsidiary of the Credit Agricole group.

The annual margin will be indexed to a single non-financial key performance indicator (KPI) aimed at reducing greenhouse gas (GHG) emissions throughout the company’s supply chain.

Many sustainability-related loans incorporate several KPIs, often covering social and governance objectives as well as environmental objectives.

“Sopra Steria has a very solid corporate social responsibility strategy with many social and governance components,” Nathalie Sarel, head of sustainable banking, SMEs and ETIs at Crédit Agricole CIB, told Euromoney. “But with this funding, it wanted in particular to highlight its strategy to achieve net zero carbon emissions by 2028 and its long-term decarbonization commitments approved by the SBTi.

“It has set ambitious interim targets to reduce scope 1, 2 and 3 emissions per employee over the life of the funding.”

Financial institutions are key players in reducing real economy emissions through investment and lending activities

Luiz Fernando do Amaral, SBTi. Photo: SBT

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The Science Based Targets Initiative (SBTi), the global body for companies to set emissions reduction targets consistent with climate science, published its Net-Zero Foundations for Financial Institutions article in April.

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