Stockholm (Sweden) 02 August 2022
The bond is linked to the outcome of three sustainability goals:
- Reduce Scope 1 and Scope 2 greenhouse gas emissions by 40% by 2025
- Define Science-based CO2 emission-reduction targets and achieve validation by SBTi by 2023
- Increase percentage of sustainably sourced wood to 87% by 2025
The sustainability-linked bond is the first of its kind from a Triton portfolio company and is another step in Triton’s broader strategy of sustainable finance solutions, together with further sustainability linked loans developed for Triton’s latest private equity funds Triton V and Triton Small Mid-Cap II.
“The bond is a clear and transparent representation of our “Planet Positive Journey”, which will enable us to continue being the leader in the sustainable development of the flooring industry. The financial structure will provide us with greater financial flexibility to invest in the next level of sustainable innovations and to continue our successful expansion outside the Nordic region,” said Johan Magnusson, President and CEO of Kährs Group.
“Triton has had an ESG Stewardship Programme incorporating ESG leadership since 2013. In consultation with its portfolio companies and in recognition of the fast-moving evolution of corporate sustainability, Triton sets forward-looking focus areas and associated objectives to drive improvement across the portfolio on an annual basis. This work is the foundation on which our portfolio companies, including Kährs, now meet increased investor interest in, and scrutiny of, the sustainable bond space” said Graeme Ardus, Head of ESG at Triton.