translated from Spanish: SDG-linked credit for reducing greenhouse gas emissions signed

Enel Chile closed with Banco Santander its first local bank financing linked to the Sustainable Development Goals (SDGs) promoted by the United Nations. The US$ 50 million loan is structured so that the interest rate is related to compliance with a greenhouse gas emission reduction indicator, scope 1, in accordance with the commitment set by Enel Chile on sustainability and towards a low-carbon economy. Indeed, the company seeks to reduce to levels equal to or less than 100 grams of CO2 for every KWh generated by 2023, as part of its decarbonization strategy, by adding 2.4 GW of renewable installed capacity by 2023 and incentivizing the electrification of final consumption.
“This first bank financing linked to the SDGs is a significant milestone for Enel Chile, in line with our business model that places sustainability at the heart of our decisions. It confirms the recognition of the financial community for the strength of our strategy that represents a key lever in the creation of sustainable value for all, “explained Giuseppe Turchiarelli, CFO of Enel Chile.
In this way, Santander continues to lead in terms of sustainable financing in the country. Jaime Arriagada, managing director of Global Debt Financing at Santander CIB, said that “we are very happy for this new operation and, in particular, to have supported Enel, who are at the forefront of sustainability. Through this product we seek to encourage companies to move towards a low-carbon economy, thus contributing to the fight against climate change.
In 2019, Grupo Santander announced a series of purposes that reflect its commitment to contribute to the Sustainable Development Goals of the United Nations and thus ensure that it develops its activity in a responsible manner. Among these, supporting customers in the transition to a green economy, mobilizing 120,000 million euros from 2019 to 2025 and 220,000 million euros between 2019 and 2030 in green funding to help address climate change.
Enel Chile has operations in the segments of generation, transmission and distribution of energy in addition to other businesses related to new services and products of the electricity market. In total it has a net installed capacity of 7.2 GW throughout the country as of March 31, 2021 and is the leading renewable energy operator in the Chilean market. Through its subsidiary, Enel Distribución, it distributes energy to more than 2.0 million customers in 33 communes of the Metropolitan Region.

Original source in Spanish