TITAN Group announces the creation of a Sustainability-Linked Financing Framework, in alignment of its financial strategy with its greenhouse gas emissions reduction objectives, which have been validated by the Science Based Targets initiative (SBTi).
This Framework marks a critical step in accelerating Titan’s sustainable development, in line with its 2026 strategy.
By aligning its financial strategy with sustainable development goals (ESG), TITAN underlines its long-standing commitment to responsible business practices and creating long-term value for its stakeholders.
According to a related announcement, the Framework creates the conditions for the future issuance of notes linked to sustainability and, more specifically, to the Group’s sustainable development objectives. Proceeds from future issuances of these bonds will fund general corporate purposes, including sustainable development projects and initiatives to reduce Titan’s carbon footprint, with the aim of transitioning to net zero CO2 emissions.
Sustainalytics, a leading independent ESG research, assessment and data analytics company, has issued a second-party opinion report on this framework. According to it, the Framework meets the five key elements of the Sustainability Linked Bonds Principles for 2023. The chosen Key Performance Indicator (KPI), Gross Scope 1 Greenhouse Gas Emissions (measured in kg of CO2 emissions per tonne of cement product), is considered “very strong”. Furthermore, TITAN Group’s Sustainable Performance Targets (SPTs) are considered “very ambitious” and are consistent with the Paris Agreement and the SBTi Initiative’s goal of limiting temperature rise to 1.5°C.
Mr. Leonidas KanellopoulosTITAN Group Chief Sustainability and Innovation Officer said: “Transforming the building materials industry towards a more sustainable future with a carbon-neutral footprint requires significant investment, with sustainable finance playing a key role in this transformation. With this Framework, the Group will attract a broader investor base, including those focused on sustainable investments and ESG portfolios. Our finance and sustainable development strategies are now aligned, further strengthening the trust of our stakeholders.”