Edison and Crédit Agricole CIB Italy announce the first ESG-linked securitization transaction in Italy, i.e. linked to a sustainability indicator consistent with the objectives that the energy company has set itself to combat climate change and climate-altering emissions. Through this innovative financial instrument, the two groups confirm their commitment to carbon neutrality in line with the Italian and European objectives.
Crédit Agricole CIB Italy and Edison amended the framework agreement with which the bank takes over a portion of Edison Energia’s trade receivables to index the terms of the transaction upon the achievement of specific sustainability indicators (KPIs) identified by Edison as part of the its ESG commitments.
With this innovative operation, Edison together with Crédit Agricole CIB makes a working capital optimization tool consistent with its energy transition path and applies the criteria of sustainable finance to a wider selection of its financial and banking activities.