EDF : Signs two bilateral sustainable revolving credit facilities with Crédit Agricole CIB and Societe Generale CIB, bringing the total of its sustainability-linked loans to over €5B
EDF signed two €300 million sustainability-indexed revolving credit facilities (RCF) which incorporate a pricing adjustment based on EDF’s sustainability performance linked to CO2 emissions and energy efficiency. One facility was signed with the Group Crédit Agricole led by Crédit Agricole CIB including LCL and Crédit Agricole d’Ile-de-France, another one with Societe Generale CIB.
Both RCF incorporate an adjustment mechanism that links the cost of the facilities to three of EDF’s sustainability KPIs: direct CO2 emissions, customers’ use of online consumption monitoring tools (as a proxy of EDF’s success in getting French residential customers actively engaged on their consumption) and electrification of its light vehicle fleet.
With these agreements following on from three previous sustainability-linked loans signed in 2017, 2018 and 2019, EDF confirms that responsible finance instruments play a central role in its financing strategy. RCFs with an ESG indexation now represent a total of over €5 billion, i.e. around 45% of EDF Group credit lines