Pastificio Lucio Garofalo signed with Intesa Sanpaolo a EUR 25M loan characterised by a pricing mechanism linked to the achievement of specific environmental sustainability objectives, including reduction of energy consumption, emissions and materials used, and virtuous waste management.
The loan provides Pastificio Lucio Garofalo with access to funds to support its Investment Plan and confirms the Company’s constant commitment to introducing a model aimed at consolidating sustainability as a strategic lever for the creation of value.
Massimo Menna, CEO of Pastificio Garofalo said: “We aim to be a company that is increasingly focused on sustainability and we therefore have to take account of the main factors affecting our industry to mitigate any negative effects and maximize the positive impacts of our actions from a social and environmental point of view; we are pleased to be able to count on the support and encouragement of Intesa Sanpaolo in so doing.”
The transaction, structured by the IMI Corporate & Investment Banking Division, consists of a six-year credit line with a fixed interest rate and confirms the Intesa Sanpaolo Group's commitment to ease the country's ESG transformation, supporting companies that aim to improve their sustainability profile.
“This transaction with a leading Italian firm such as Pastificio Garofalo shows that the food sector is increasingly attentive to the impacts of its activities and production on the community in which it operates and on the environment more generally,” said Bruno Pacini, Head of Industry Food & Beverage and Distribution of IMI Corporate & Investment Banking Division.
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