The automotive sector continues to progress in decarbonisation, while achieving new milestones across its value chain. The most recent example is provided by Porsche Holding Salzburg (P911.DE), a subsidiary of the German Volkswagen Group, the largest car sales company in Europe.
The company signed a sustainable loan with BBVA (BBVA.ES) in the amount of EUR 200 million. This is the first green financing granted by the Spanish entity to Porsche Holding Salzburg, after both agreed in 2018 on a loan using blockchain technology in the amount of 150 million euros.
Through this process, Porsche Holding Salzburg is committed to continuing progress on its path towards decarbonisation. The company announced that by 2025, half of its sales will be electric or hybrid cars. In addition, it has set a goal of reducing carbon dioxide emissions by 25% in 2030.
Fuente: Europa Press
The BBVA Sustainable Loan includes a price adjustment mechanism that links the loan margin to environmental and social indicators. These indicators include carbon dioxide emissions, the share of electric cars sold, and the presence of women in the management leadership of Porsche Holding Salzburg.
“This loan is an incentive for us to continue improving our results in selected key performance indicators and to align our financing strategy with our long-term sustainability goals,” said the CEO of Porsche Holding Salzburg.
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