Birla Carbon has announced the formal adoption of a Green Finance Framework. The framework outlines the criteria and provides guidelines for Birla Carbon to finance eligible Green Projects through Green Loans or Bonds. This move comes in continuation of the business’ decarbonisation drive to achieve Net Zero Carbon Emissions by 2050 and the introduction of Continua range of Sustainable Carbonaceous Materials.
In addition to the Green Finance Framework, Birla Carbon has also successfully concluded the first Green Finance Transaction under this framework, in the form of a Green Loan of USD 50 million. This loan will refinance a part of the capital expenditure which has been incurred towards installing state-of-the-art absorber technology to remove various compounds from air emissions levels at the North Bend plant in Louisiana, USA.
Sharing his thoughts on the occasion, John Loudermilk, Chief Executive Officer, Birla Carbon, said, “Achieving Net Zero Carbon Emissions by 2050 is at the core of our business strategy at Birla Carbon. In the years ahead, a significant commitment will be required for the decarbonisation efforts of our process and the introduction of more Sustainable Carbonaceous Materials in the market. Keeping this in mind, such a framework will greatly help finance such projects.”