02 November 2021
The world of finance is evolving to address investor and lender concerns about environmental issues, including climate change, and increased focus on the social and governance performance of companies they work with. This is often referred to as Environmental, Social and Governance (ESG).
With this in mind, Urenco has just signed a new sustainability-linked bank facility. As part of the facility negotiation, we presented Urenco’s sustainability objectives to our banks. The bank facility includes commitments on carbon reduction, water management and safety. If we achieve pre-set targets, we will benefit from slightly cheaper interest costs. If we fail, we will need to explain why and have higher costs.
This is a revolving credit facility of €500 million provided by ten banks and runs until 2026.
Ralf ter Haar, Chief Financial Officer said: “Sustainability is integral to everything we do at Urenco, including how we finance investments in our company, and we are proud to be able to demonstrate this through our new bank facility.
“As members of The Climate Pledge, working to achieve net zero emissions in advance of 2040, alongside other key sustainability goals such a water usage reduction and continually improving safety, we are confident that we have a strong plan in place to enable us to deliver on our commitments.”
Urenco is an international supplier of enrichment services and fuel cycle products with sustainability at the core of its business. Operating in a pivotal area of the nuclear fuel supply chain for 50 years, Urenco facilitates zero carbon electricity generation for consumers around the world.
With its head office near London, UK, Urenco’s global presence ensures diversity and security of supply for customers through enrichment facilities in Germany, the Netherlands, the UK and the USA. Using centrifuge technology designed and developed by Urenco, and through the expertise of our people, the Urenco Group provides safe, cost effective and reliable services; operating within a framework of high environmental, social and governance standards, complementing international safeguards.
Urenco is committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and nurturing the next generation of scientists and engineers.