Brazil's BRF takes out $150 mln 'green loan' for use in the Middle East -statement

BRF SA

21/12/2023 18:57

By Ana Mano
       SAO PAULO, Dec 21 (Reuters) - Brazilian chicken and pork
processor BRF SA  BRFS3.SA  received a $150 million
"sustainability loan" from the First Abu Dhabi Bank, according
to a statement on Thursday.
    The company said this is its first green loan for use in the
Middle East and North Africa, as the credit line will help BRF
expand its business in the region. 
    Sustainability or green loans are credit facilities
structured to support sustainable business activities from a
social and environmental viewpoint.
    "At BRF, we defined the criteria for reducing scope 1 and 2
emissions, and for increasing clean energy consumption as a
performance indicator linked to the loan," Bruno Massera,
financial director of international markets at BRF, said in a
statement. "These are relevant goals for BRF and are aligned
with the challenge of putting into practice the fight against
climate change discussed during COP28."
    In 2021, BRF announced a commitment to the Science-Based
Target Initiative (SBTI) and has been working since to reduce
greenhouse gas (GHG) emissions across its supply chain,
according to the statement.
    In 2022, BRF achieved "a 26% reduction in absolute
greenhouse gas emissions as defined in scopes 1 and 2," the
statement said.
    Scope 1 emissions are direct GHG emissions from
company-owned and controlled assets while Scope 2 emissions are
indirect ones from purchased energy including electricity,
steam, heat, or cooling.
    Scope 3 emissions, in turn, includes all other indirect
emissions that occur in a company's value chain.

 (Reporting by Ana Mano)
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