AB Electrolux and Svensk Exportkredit (SEK) have entered into a financing agreement for USD 100 million. The loan is linked to Electrolux Group’s sustainability goals aimed at reducing the company’s climate impact.
Press release October 10, 2024
Electrolux Group chooses sustainability-linked loan from Svensk Exportkredit
AB Electrolux and Svensk Exportkredit (SEK) have entered into a financing agreement for USD 100 million. The loan is linked to Electrolux Group’s sustainability goals aimed at reducing the company’s climate impact.
The USD 100 million financing from Svensk Exportkredit has a term of seven years. The loan is tied to Electrolux Group’s goal of reducing the company’s greenhouse gas emissions by 2030.
Electrolux Group aims to reduce its emissions from its own operations by 85%, and its absolute emissions (use of sold products, materials, product transport, and business travel) by 42% between 2021 and 2030. The climate targets are approved by the Science Based Targets initiative (SBTi) and are aligned with a 1.5-degree scenario.
– Electrolux is a customer with whom we have a long and close relationship. This is the first sustainability-linked loan SEK is providing under Electrolux’s Sustainability-Linked Financing Framework. We are very proud that our financing can contribute to the company’s goals and work to reduce their greenhouse gas emissions,” says Maria Simonson, Acting Head of Client Relations and Head of Sustainability at Svensk Exportkredit.
SEK offers three types of sustainability-classified loans: green, social, and sustainability-linked. Demand for sustainability-classified financing is expected to grow steadily as the need for transformation is significant, both in Sweden and globally.
– Our science-based climate targets guide our efforts to continue significantly reducing our climate footprint, and we appreciate SEK’s continued support in helping us achieve this. From reducing the energy we use in our operations to developing innovations that enable both us as a company and our customers to make a lower impact on our planet, this is absolutely central to us,” says Elena Breda, Electrolux Group Chief Technology and Sustainability Officer.
About Electrolux
Electrolux Group is a leading global appliance company that has shaped living for the better for more than 100 years. We reinvent taste, care and wellbeing experiences for millions of people, always striving to be at the forefront of sustainability in society through our solutions and operations. Under our group of leading appliance brands, including Electrolux, AEG and Frigidaire, we sell household products in around 120 markets every year. In 2023 Electrolux Group had sales of SEK 134 billion and employed 45,000 people around the world.
Katarina Daniels
Chief Press and Communication Officer
Mobile: +46 720806885
Email: Katarina.Daniels@sek.se
About SEK
The Swedish Export Credit Corporation (SEK) is a commercially driven, state-owned company that provides financing to Swedish exporters, their subcontractors, subsidiaries, and international buyers of Swedish products and services. SEK’s financing supports company growth, creating new jobs and driving economic growth in Sweden. Additionally, SEK promotes the transition to a more sustainable society, both within Sweden and globally.
