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BUREAU VERITAS links its syndicated credit facility financial terms to Environmental, Social and Governance (ESG) indicators

Written by Customer Service on . Posted in Public Companies.

Press releaseNeuilly-sur-Seine, France – February 24, 2021Bureau Veritas links its syndicated credit facility financial terms to Environmental, Social and Governance (ESG) indicatorsBureau Veritas, a world leader in testing, inspection and certification, announces the signing of an amendment to its EUR 600 million syndicated credit facility − originally signed in 2018 − in order to integrate Environmental, Social and Governance criteria.Bureau Veritas’ social and environmental performance will now be taken into account when calculating the financing cost of its syndicated credit facility. This will be measured against the quantitative ESG objectives that the Group has set for 2025.Didier Michaud-Daniel, Chief Executive Officer of Bureau Veritas, said:“At Bureau Veritas, we contribute to Shaping a World of Trust by helping our clients reduce their risks in terms of quality, health, safety, environmental protection and social responsibility. These challenges are at the heart of our societal aspirations. Being a “Business to Business to Society” company comes with responsibilities: to set an example in terms of Corporate Social Responsibility, and to be a model for our industry in this field. This announcement is part of our engagement, throughout all levels of the company, to contribute to a positive impact on people and the planet. It demonstrates our commitment to aligning financial and non-financial performance − a necessary condition for sustainable and profitable growth for all. With this action, we are proud to play a role in sustainable finance.”Three non-financial criteria have been selected for inclusion in calculating the cost of financing the syndicated credit facility. They are:Total accident rate: Bureau Veritas aims to reduce the total accident rate1 to a level of 0.26 by 2025 (representing a 32% decrease compared to the 2019 rate of 0.38)Percentage of women in leadership positions: Bureau Veritas aims to have women in 35% of the company’s leadership positions2 by 2025 (compared to 19.5% in 2019, representing an 80% increase in the number of leadership positions held by women)CO2 emissions per employee (tons per year): Bureau Veritas aims to reduce its emissions3 to 2.0 tons per year per employee in 2025 (compared to 2.85 tons in 2019, a decrease of 30%)Aligned with the United Nations’ Sustainable Development Goals (SDGs), Bureau Veritas’ CSR 2025 strategy − aimed at “Shaping a Better World” − is based on three drivers:“Shaping a better workplace”“Shaping a better environment”“Shaping better business practices”
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