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ICL borrows to fund sustainability

ICL has concluded a five-year €250 million ‘sustainability-linked loan’ from syndicate of five global lenders at 0.8%/year interest. It is the first company in Israel to do so. This is part of its sustainability efforts and includes three performance targets.

ICL will seek to achieve a 4-5% reduction in direct and indirect Scope 1 and Scope 2 CO2 emissions resulting from global operations. Third party monitoring will begin in the 2021 fiscal year, in accordance with the accounting and reporting standards published by the GHG Protocol.

Climate recommendations from ACC

The American Chemistry Council (ACC) has issued a set of policy recommendations, which, it says could “enable dramatic reductions in greenhouse gas emissions” and help the administration to achieve its climate goals. Specifically, it called on Congress to enact legislation to

1. Increase government investment and scientific resources to develop and deploy low emission technologies in the manufacturing sector

2. Adopt transparent, predictable, technology- and revenue-neutral, market-based, economy-wide carbon price signals; and

Clariant sets climate targets

Clariant has committed to new 2030 targets to reduce CO2 emissions in line with the Science Based Targets initiative (SBTi), which has validated them. This follows the establishment last year a dedicated unit to accelerate its sustainability transformation. The targets are:

* 40% absolute reductions in Scope 1 (made directly during production) and 2 (emitted indirectly, mainly through consuming steam and electricity) greenhouse gas emissions (GHG) emissions on 2019 levels

* A 14% absolute reductions in Scope 3 (other indirect) GHG emissions on 2019 levels

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