Vidrala Group, leading producer of glass containers for the F&B industry, has signed with Spanish bank BBVA its first interest rate swap (IRS) agreement linked to sustainable criteria, a pioneering financial product in the derivative market.
IRS are a product class that help companies manage and cover risks related to interest rates and exchange rates, which are part of business’ day to day operations. However, Vidrala and BBVA have gone one step further by formalizing a sustainable version of this product.
Vidrala has linked the contractual conditions of this IRS to a particular goal meant to reduce CO2 emissions. In this regard, the fees it will have to pay as part of the IRS agreement vary depending on the achievement of the established key performance indicator (KPI). In case Vidrala fails to achieve the expected carbon footprint reduction, it will face a penalty that will be assigned to reforestation project “Tree Planting in Tanzania”, led by ForestNation.
26.05.2021, Vidrala Group
Notícias sobre o material do site é copyright e pertence à empresa ou ao seu fornecedor de terceiros notícia, e todos os direitos reservados. Qualquer usuário que acessa esse material poderá fazê-lo apenas para seu próprio uso pessoal, bem como a utilização desse material é de risco exclusivo do Utilizador. A redistribuição ou exploração comercial de material tal notícia é expressamente proibida. Se tal notícia material é fornecido por um terceiro, cada utilizador concorda em observar e estar vinculado aos termos específicos de utilização aplicáveis a material notícia. Nós não representamos nem endossamos a precisão ou confiabilidade de qualquer informação contida em qualquer notícia ou sites externos referidos na notícia.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.