Fiberhost and INEA: financing based on sustainable development
Fiberhost, INEA and related companies signed an annex amending the terms of the recently received financing in the amount of PLN 2.8 billion, thus transforming it into financing based on the implementation of sustainable development goals.
The Group’s sustainable development strategy (ESG) has been based on defined pillars for years, which are: innovation and digital inclusion, pro-climate policy and equality activities. This strategy is complemented by activities in the field of process improvement, broadly understood security and involvement in social activities.
One of the key actions undertaken by the Group as part of the ESG strategy is the development of the Net Zero 2040 emission reduction plan, which aims to reduce emissions by 72% by 2030 and achieving carbon neutrality by 2040. This plan is in line with the Paris Climate Agreement’s goal of limiting the increase in average global temperature to 1.5%.
Also recognizing the dominant role of digital technology in economic and social development, companies have made digital inclusion a core element of their strategy. The Group’s activities are focused on providing digital competences to the inhabitants of Poland. This applies to both increasing the availability of fiber optic services and educational activities.
The last pillar of the ESG strategy, i.e. equality activities, is a feature that characterizes the Group as an employer. In structures, diversity is the essence of development, and respect and equal treatment in everyday work are the basis of the organization’s operation.
Due to the linking of financing costs with ESG objectives, in accordance with the lending principles, the Group is obliged to achieve and demonstrate progress in their implementation. In the first stage of the lending campaign, two key performance indicators (KPIs) determined on the basis of the Group’s strategy will be monitored:
- Reduction of greenhouse gas emissions in scope 1 and 2, i.e. direct and indirect emissions, in accordance with the Net Zero strategy by 2040.
- Conducting stationary training in building digital skills, based on the existing educational program run by Fiberhost as part of the Fiberhost Academy project.
In the future, the Group intends to add a third KPI relating to Scope 3 emissions.
The lending group includes the following entities: PKO Bank Polski, EBRD, ING Bank, Crédit Agricole, Santander, Bank Pekao S.A., mBank and PZU. ING and Crédit Agricole acted
as process coordinators.
The signed annex is proof that today sustainable development is an integral part
of business. For us, it is both a commitment and an investment that will allow us
to pursue our strategic goals based on pro-environmental processes and breaking down technological barriers. It is also proof that we are a reliable, ethical and ambitious partner. – comments Marta Wojciechowska, CEO of Fiberhost
For INEA, sustainability is much more than a business trend. It is a profound social and environmental responsibility. Every opportunity to meet our goals for innovation and digital connectivity, as well as to take responsibility for the fate of the planet and future generations, is extremely important to us. The signed annex is further proof of this, as it underlines our vision of a more sustainable and brighter future. – comments Maciej Piechociński, President of the Board of INEA