Elisa receives EUR 100m sustainability-linked loan from NIB

Elisa Corporation and the Nordic Investment Bank (NIB) have signed a seven-year, EUR 100 million loan agreement. The loan is linked to Elisa’s ambitious sustainability targets and will accelerate their implementation.

Climate change mitigation has been part of Elisa’s strategy for 15 years, and the company has already halved its Scope 1 and 2 energy emissions and achieved its 2018 targets under the Science Based Targets initiative (SBTi). In 2023, Elisa also became the first Finnish listed company to adopt and update more ambitious SBTi targets for 2030 and its Net-Zero Standard emissions target for 2040, including supply chain emissions.

The margin on the new loan from NIB is linked to three of Elisa’s key sustainability targets. The climate-related targets included in the loan facility are validated by SBTi and are in line with the 1.5 °C climate target. The third indicator measures the reduction in the proportion of the population that does not yet have high-speed internet access.

“By linking financing to ambitious targets, Elisa is demonstrating their commitment to integrating sustainability into their strategy and mitigating climate change throughout their operations. With this loan, we can also support their investments needed to reach customers in rural areas and offer a resilient infrastructure”, says André Küüsvek, President and CEO of the Nordic Investment Bank.

“Elisa’s mission is a sustainable future through digitalisation, and we are committed to sustainable business, including in terms of financing. This financing from the Nordic Investment Bank is a continuation of our previous sustainability-linked financing arrangements. It will enable us to accelerate significant reductions in our greenhouse gas emissions in our own operations, and especially in our supply chain, which is crucial for us to achieve our target of zero emissions by 2040”, says Jari Kinnunen, CFO at Elisa.