In cooperation with the Santander Group, Żabka has concluded the first financial agreements based on the ESG targets
In cooperation with the Santander Group, Żabka has concluded the first financial agreements based on the ESG targets
In cooperation with the Santander Group, Żabka has concluded the first credit agreement and factoring agreement, which are based on the fulfillment of the ESG targets, including decarbonization. These targets have been endorsed by the Science Based Targets (SBTi) initiative. The loan made available by Santander will finance the automated and low-carbon logistics center of Żabka, which is scheduled to open in the second half of 2022.
How will the agreements affect Żabka? The amount of the credit margin and the corresponding factoring margin was linked to the fulfillment of the ESG targets that the company defined and committed to implement in the Responsibility Strategy adopted in 2021. This type of funding not only gives credibility to the company's commitments but also shows that the organization's declarations are backed by concrete actions.
In an increasing number of financial institutions, the availability and cost of funding depend on the activities and objectives related to sustainable development, which means that the company's investments are evaluated from an environmental, social, and corporate governance perspective. Companies that include, among others. environmental commitments in their activities have easier access to financing instruments. The Żabka initiative is therefore a very important signal to the market as to how to integrate ESG factors into own business activities in the interests of sustainable development.
– At present, responsibility and trust are the most valuable assets. Modern business must be credible and transparent in its communication. Our creation of a financial instrument based on specific ESG targets, including decarbonization, is further proof that we take our commitments seriously. In Żabka we continually improve our processes and seek innovative solutions to meet the expectations of our stakeholders and maintain our high market position. We have signed the first financial agreements, the margin of which depends on the achievement of the ESG targets. This gives us additional motivation to pursue our commitments. We are open and we want to continue looking for this type of financing for the development of our business – says Marta Wrochna-Łastowska, Member of the Management Board/Chief Financial Officer (CFO), Żabka Polska.
The ESG-based funding project was implemented by Żabka thanks to its close cooperation with the Santander Group, which is active in the field of green transformation, supporting entrepreneurs in this change.
- Through our activities, including providing financing to customers based on the ESG targets, we are consistently implementing our responsible banking strategy. We are very pleased that we have the opportunity to promote on the Polish market pioneering solutions such as factoring combined with ESG targets or a long-term credit secured by the Export Credit Agency (ECA) policy (ECA). To implement such solutions, great motivation is needed on both the client and the bank side. I am glad that together with Żabka we were able to create a solution unique in the business scale, which will additionally have a positive impact on the environment – saysJuan de Porras Aguirre, Head of Corporate & Investment Banking / Vice-President of the Management Board · Santander Bank Polska.
Żabka supports sustainable life in harmony with the planet
The Żabka Responsibility Strategy is based on four pillars: sustainable lifestyle, positive impact on the environment, responsible organization, and the green planet. The company develops its activities in the area of social and environmental responsibility in a strategic manner, integrating environmental, social, and corporate governance factors (ESG) with business strategy. One of its ambitious objectives is, inter alia, achieving climate neutrality of its operations by 2025. Żabka is the first company in Poland and the first modern convenience network in the Central European region, whose decarbonization objectives have been scientifically verified and approved by the international Science Based Targets (SBTi) initiative.
More information about the company's commitments is presented in the Responsibility Report: https://raportodpowiedzialnosci.zabka.pl/
Żabka Group ranked #2 in Top 100
Global Most Loved Workplaces ranking.