A new step in sustainable financing

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A new step in sustainable financing

Rotterdam, December 3, 2021 

A company that has the ambition to initiate change, needs to have that ambition reflected in everything. From its founding in 2013, FinCo Fuel has ensured that the sustainability of the energy market has become more firmly anchored in the organization's DNA and strategy every year. Not only by continuously greening our own processes and adapting them to the new times, but also by investing in cleaner fuels, which also allows our customers to reduce their CO2 emissions.

Last summer, we further elaborated on our sustainability goals based on the Sustainable Development Goals (SDGs), as established by the United Nations (see box). And recently we took another step: we also incorporated our sustainability ambitions in our new financing. With this, FinCo Fuel Group wants to underline its own role as a frontrunner in the energy transition.

'We are the first sustainable fuels company to be certified at level 3 of the CO2 Performance Ladder,' says Nicolai Knop, Group Finance & Treasury Manager of FinCo Fuel. 'With this certification we map our own CO2 footprint and continuously work on reducing  the emissions of our own organization and processes. We also work with our customers to reduce CO2 emissions with new, advanced (bio) fuels. Our new credit facility is directly linked to our sustainability ambitions. The interest surcharge depends on the extent to which we achieve our goals.'

As a major player, FinCo Fuel can make a major contribution to the transition to low-carbon fuels. The refinancing is an essential and necessary step forward. 'With the presentation of the European Commission's Fit for 55 package and the COP26 climate conference in Glasgow, 2021 is a crucial year in the fight against climate change and the acceleration the world needs to make now towards a sustainable future,' says Hans Wouda, CFO of FinCo Fuel. 'FinCo Fuel is fully committed to the role of frontrunner in the energy transition. The confidence of our banks in our strategy and ambitions is essential for this.'

In 2015, the United Nations established the SDGs. Globally, these should lead to a better and more sustainable 2030. There are 17 goals and 169 targets to achieve them. The various member states themselves have to ensure that these are translated into national policies. FinCo Fuel Group has committed to four SDGs:

  • Afforable and clean energy (7): Ensure access to affordable, reliable, sustainable and clean energy for all;
  • Responsible consumption and production (12): Ensure sustainable consumption and production patterns;
  • Climate action (13): Take urgent action to combat climate change and its impacts;
  • Life on land (15): Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss.