ESG credit line of €55 mln for Carrefour to reduce environmental impact

Intesa Sanpaolo has granted Carrefour Italia a credit line with ESG characteristics, intended for the issuance of guarantees, for a total of €55 million: the goal is to support the group's sustainable growth by reducing its impact on the environment.

Intesa Sanpaolo will link the pricing of the guarantees issued to the achievement of specific ESG (environmental, social and governance) targets:

• reducing the amount of packaging used in Carrefour-branded products by more than 1,000 tonnes by 2025
• decreasing greenhouse gas emissions by more than 40% by 2025 compared to 2019

Carrefour has thus drawn up an investment plan that includes the installation of photovoltaic panels on the roofs and car parks of more than 100 stores, agreements with the top hundred suppliers to comply with the 1.5 degree climate trajectory, and the conversion of all Carrefour-branded packaging to compostable, recyclable or reusable materials by 2026.

The transaction, structured by Intesa Sanpaolo's IMI Corporate & Investment Banking Division, confirms the Group's support for the energy transition and in support of NRRP-related investments.