By aligning its financial strategy with its sustainability (ESG) targets, TITAN underscores its enduring commitment to upholding responsible business practices and creating long-term value for its stakeholders. The Framework paves the way for the future issuance of sustainability-linked notes tied to TITAN Group’s sustainability performance targets. Future notes will finance general corporate purposes, including sustainable projects and decarbonization efforts towards TITAN’s transition to net-zero emissions.
Sustainalytics, a leading independent ESG research, ratings, and data firm, has issued a Second-Party Opinion report on the Framework. According to the report, the Framework aligns with the five core components of the Sustainability-Linked Bond Principles 2023. The selected key performance indicator (KPI) —gross scope 1 GHG emissions intensity (measured in kgCO2 emitted per tonne of cementitious product)— is considered “Very strong.” Furthermore, TITAN Group’s sustainability performance targets (SPTs) are deemed “Highly Ambitious” and consistent with the Paris Agreement and the 1.5°C scenario of the SBTi.
Leonidas Canellopoulos, TITAN’s Chief Sustainability and Innovation Officer, said: “Transforming the building materials industry towards a more sustainable, net-zero future requires significant investments, with sustainable finance playing a crucial role in this transformation. The Framework will enable TITAN to attract a broader range of investors, including those focused on sustainable investments and ESG portfolios. Our financial and sustainability strategies are now aligned under a solid Framework, further strengthening our stakeholders’ confidence and trust.”
