The international steel and technology group has successfully issued its first green corporate bond, for EUR 500 million. The bond has a term of five years and a coupon of 3.75%, and met with high investor demand.
Swedish Energy Agency announced that Stegra has been granted about €100 million from the Industrial Leap for its establishment of a fully integrated near zero emission steel production facility in Boden.
In an exclusive interview with Green Steel World’s Lucija Kozina, Mr. Fabio Passaro, Senior Transition Policy Analyst at the Climate Bonds Initiative, discussed the findings of a recent report he co-authored titled “The role of policymakers in mobilising private finance to ensure a credible and just transition in steel and cement.” This insightful report, created at the request of the G20 Brazilian Presidency, was a key input for the Sustainable Finance Working Group (G20 SFWG) July meetings and informed their high-level discussions on sustainable finance.
GreenIron is now preparing to deliver fossil-free iron in Sandviken, Sweden, supported SEK 100 million of additional financing provided by existing shareholders.
Salzgitter Klöckner-Werke GmbH, a wholly owned subsidiary of Salzgitter AG, has entered into a revamped € 1.03 billion syndicated loan agreement. The company’s existing € 560 million credit line was raised to € 680 million, with a new € 350 million guarantee facility baked into the contract as well.
With iron and steel accounting for more than seven per cent of global emissions, technological innovation will be vital to the industry achieving net zero emissions.
The Sustainable STEEL Principles are a ready-to-use solution for measuring and disclosing the 1.5°C alignments of steel lending portfolios. These were carefully designed over the course of a year by the aforementioned working group facilitated by the RMI to support the practical achievement of net zero emissions in the steel industry.
Just Climate is an investment business dedicated to climate-led investing to address the net zero challenge at scale.
Simply put, sustainable finance refers to the process of taking environmental, social and governance (ESG) considerations into account when making investment decisions in the financial sector, leading to more long-term investments in sustainable economic activities and projects. According to the Head of ESG, FIC, Deutsche Bank, decarbonising the steel industry will cost more than 1.4 trillion dollars and that is why the emerging sustainable finance market has a key role to play in funding the transition.
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