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Apr 25, 2022
Conversion of Terega’s €250m Revolving Credit Facility into Sustainability-Linked Revolving Credit Facility
Under this amended RCF, the margin adjustment RCF is linked to Terega’s performance on an ESG key performance indicator covering its methane emissions.
As a responsible actor in the energy sector, Teréga is committed to reduce its global environmental footprint through its methane emissions reduction roadmap, with a target announced in March 2021 of 36% reduction by 2025 compared to 2017 levels, notably by reducing fugitive emissions.
As part of its BE POSITIVE program (Positive Environmental Assessment), Teréga has also joined the “Oil & Gas Methane Partnership” (OGMP 2.0) along with some 60 other gas players. Through this initiative, launched by the United Nations Environment Programme (UNEP) with the support of the European Commission, gas operators commit to reducing their methane emissions from their activities and improving the accuracy of their reporting.
Agnès ButterlinFinance, CSR and Procurement Director of TeregaSustainability belongs to the core values of Teréga’s strategy and is embedded in our operations across the Group. It has been a natural move to include ESG Commitments in our financing activities by converting as a first step our existing revolving credit facility (RCF) into a sustainability linked RCF.
