Together with SACE to support the sustainable development of Lucart
Lucart, one of the most important European paper groups, and Intesa Sanpaolo, through the Corporate & Investment Banking Division and the support of the Circular Economy Desk of Intesa Sanpaolo Innovation Center, have signed a financing agreement for an amount of 10 million euros backed by SACE Green Guarantee.
The financing is aimed at supporting Lucart Group's growth and development plan from an ESG (Environmental, Social and Governance) and circular economy perspective. The credit facility has a pricing mechanism linked to the achievement of two specific sustainability targets: the completion of the Castelnuovo di Garfagnana (LU) production line, which will enable the company to increase its use of alternative packaging, and an increase in the recovery of Tetra Pak® type poly-coupled food cartons at the Diecimo (LU) plant.
The financing is part of Lucart Group's strategy, which for years has adopted a sustainable development model aimed at optimising the use of raw materials and reducing waste by transforming it into new resources, in line with the principles of circular economy.
Thanks to their positive impact in terms of mitigating climate change, the financed projects meet the objectives of the Green New Deal, the plan for a modern, circular, sustainable and resilient Europe. In this context, SACE plays a central role in the implementation of this project in Italian territory.
"Lucart Group is a top Italian and international player that has embraced environmental sustainability issues for a some time", commented Richard Zatta, Head of Global Corporate at Intesa Sanpaolo's IMI Corporate & Investment Banking Division. "This transaction confirms Intesa Sanpaolo's commitment to boosting and concretely supporting the Green and Circular Economy by sustaining the development plans of companies in this area."
For further information read the press release.