Our Group has long been strongly committed to accompanying companies towards development paths that can combine corporate growth and environmental sustainability.
Head of Global Corporate, IMI Corporate & Investment Banking Division
Sustainability is an important part of our business strategy and this is clearly demonstrated by the concrete goals we are pursuing.
Chief Financial Officer, Carrefour Italia
BACKGROUND AND GOALS
Carrefour Italia, whose new 2026 Strategic Plan aims to accelerate leadership in the food transition for everyone, has the crucial role of linking the entire supply chain of reference: from producers and suppliers, to stores, to consumers.
Among the main pillars indicated in the Group's new roadmap is climate impact, for the reduction of which several commitments have been made to reduce greenhouse gas emissions directly or indirectly, e.g. through the reduction of packaging in stores.
Carrefour’s commitment to achieve sustainability goals includes several actions:
- an investment plan of more than EUR 50M at Group level to install photovoltaic panels on the roofs and car parks of more than 100 stores
- agreements with top 100 suppliers to meet the 1.5 degree climate trajectory
- conversion of all Carrefour-branded packaging to compostable, recyclable or reusable materials by 2026
- reduction of pack tonnes to a total of more than 1,000 tonnes compared to 2020
THE SOLUTION
Long committed to accompanying customer companies towards development paths that can combine corporate growth and environmental sustainability, Intesa Sanpaolo, through the specialists of the IMI Corporate & Investment Banking Division, has created a credit structure for Carrefour Italia that is able to support the Group's financial needs as well as reward the achievement of the ambitious ESG (Environmental, Social and Governance) objectives defined in the customer's new Strategic Plan.
All Carrefour subsidiaries will be able to benefit from the credit line for a total of EUR 55M, aimed at issuing guarantees, which includes an incentive mechanism linked to the achievement of specific ESG targets. In fact, the pricing of guarantees issued has been linked to the achievement of specific targets to be reached by 2025, such as reducing by more than 1,000 tonnes the amount of packaging used in Carrefour-branded products and cutting greenhouse gas emissions by more than 40% compared to 2019 levels.
KEY ELEMENTS OF SUCCESS
- Solid, long-term relationships
We build a trust relationship with our clients, based on proximity and listening, to accompany them on their growth paths with a customised and valuable service. - ESG vocation
We are strongly committed to supporting the industrial transition towards ESG principles, assisting companies in their path of structural change in order to consolidate their competitive positioning. - Product innovation and granting an economic benefit
Product innovation is one of the pillars of our business: the structured product has been anchored to robust ESG targets, consistent with the client's business strategy. Upon reaching the KPIs specified in the contract, the customer will benefit from a better pricing on the issue of guarantees.
Read the press release.