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BFR links sustainability to us$150 million loan with First Abu Dhabi Bank

3/06/2024

BFR links sustainability to us$150 million loan with First Abu Dhabi Bank

The loan, signed in March this year, will help the Company advance in reducing greenhouse gas emissions and increasing the consumption of clean energy in its local operations

BRF, one of the largest food companies in the world, linked sustainability goals to a US$150 million loan with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates and one of the largest and safest financial institutions in the world. world.  

This is the first time that BRF has used a loan linked to sustainability in the Middle East and North Africa (MENA). The credit line will allow the Company to expand its business in the region and ensure that this growth meets its sustainability objectives. 

The loan is part of FAB’s sustainable financing proposition, where the bank is a regional leader in environmentally linked loans that create positive impact in the UAE, the MENA region (Middle East and North Africa) and globally.   

“At BRF, we defined the criteria for reducing scope 1 and 2 emissions, and increasing clean energy consumption as performance indicators linked to the loan. These are relevant goals for BRF and are aligned with the challenge of putting into practice the combating climate change discussed during COP28”, explains Bruno Massera, financial director of International Markets at BRF. 

According to BRF’s Director of Reputation and Sustainability, Raquel Ogando, “the partnership is an opportunity to reinforce sustainability commitments in a strategic region for the company”, she states.  

Since 2021, BRF has committed to the Science-Based Target Initiative (SBTI) and has been working to reduce emissions across its entire value chain. In 2022, it achieved a 26% reduction in absolute greenhouse gas emissions in scopes 1 and 2. 

The Company promoted significant initiatives on the clean energy front. In 2021, BRF entered into partnerships with AES Brasil and Power China to build wind and solar farms, respectively. With the two projects, BRF will enable around 90% of electrical energy from wind and solar sources in Brazilian operations by 2030.  

At COP28, FAB announced that it will lend, invest and facilitate more than US$135 billion in sustainable and transition finance by 2030 – the largest sustainable finance commitment made by any financial institution in the MENA region to date. 

Since 2021, FAB has facilitated more than US$27 billion in sustainable financing by the end of September 2023. 

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