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News UltraTech Cement secures US$500m sustainability-linked loan

UltraTech Cement secures US$500m sustainability-linked loan

Written by Global Cement staff 27 August 2024
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India: UltraTech Cement has obtained a $500m sustainability-linked loan from Sumitomo Mitsui Banking Corporation, State Bank of India, BNP Paribas and other lenders. Capital Market News has reported that the conditions for the loan align with UltraTech's 2050 Net-Zero Roadmap. Under the roadmap, the subsidiary of Aditya Birla Group aims to reduce its Scope 1 CO2 emissions per tonne of cementitious material by 27% between 2017 and 2032, and to raise its reliance on renewables to 85% of its energy consumption by 2030.

UltraTech Cement previously issued sustainability-linked bonds in 2021.

Last modified on 28 August 2024
Published in Global Cement News
Tagged under
  • UltraTech Cement
  • Aditya Birla
  • Sumitomo Mitsui Banking
  • Loan
  • Sustainability
  • CO2
  • target
  • Roadmap
  • State Bank of India
  • BNP Paribas Securities
  • GCW674
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