The Italian oil giant, Eni has launched the “Basket Bond – Sustainable Energy” programme, an innovative financial tool to further strengthen its commitment towards an equitable and inclusive energy transition.
The programme primarily dedicated to the energy transition, and the first financial tool of its kind was developed by Eni in collaboration with ELITE, part of the Borsa Italiana Group/Euronext and Illimity Bank, acting as arranger.
The responsibility of organizing the operations and definitions of the programme’s financial aspects, supporting the companies involved in issuing and placing the bonds will be the focus of the trio.
The “Basket Bond – Sustainable Energy” programme is aimed at all companies within the integrated energy chain, especially focused on Small-Scale Entreprises (SMEs) and dedicated to sustainable development goals.
“Companies who qualify for the programme will have access to financial resources– on favourable terms according to their current and expected sustainability profile– to be used in projects and investments for the achievement of the United Nations Sustainable Development Goals.”
ENI
Companies championing Energy Transition to Support Intiaitives
Only companies dedicated to a fair energy transition path and aiming to improve their own industrial processes and business models will be able to support these initiatives. These may include the renewal of plants for better energy efficiency and improvement of environmental impacts.
Other areas of consideration involve access to renewable energy sources, sustainable mobility and the adoption of circular economy models, the safeguarding of employee’s health and safety, the creation of skills and provision of related training.
This new business model now puts sustainability at the heart of all corporate activities, including its financial strategy, believing that the development and use of financial tools linked to sustainability can contribute to the promotion of the energy transition process for the achievement of a low-carbon future.
ELITE’s commitment in initiatives such as these is known both in Italy and abroad. The company supports the sustainable growth of small and medium sized companies, which are fundamental economy assets.
The company will also support the supply chains and invest in the Italian entrepreneurial fabric in order to create more robust companies able to innovate and compete at an international level.
With this new project, illimity will provide an additional financial tool for all companies with sustainable development plans, by offering them favourable conditions according to their sustainability profile, thus strengthening its ESG strategy to support small and medium sized enterprises.
This comes alongside a chain of initiatives focused on energy transition including the recent memorandum of understanding (MOU) between Eni and Fincantieri. This kind of partnership is to create a system of integrated solutions for decarbonization projects in the fields of energy, transport and the circular economy.
Ultimately, this together with the “Basket Bond – Sustainable Energy” programme is to help achieve the United Nations sustainable Development Goals (UN SDGs) and a fair and inclusive transition.
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