The Hiperdino chain obtained on October 21 the first sustainable syndicated financing in the Canary Islands, whose interest rate is linked to the achievement of a series of measures included in the Sustainable Development Goals (SDGs) of the United Nations, the Paris Agreement and the European Green Pact.
The financing will allow the company to reinforce and modernize its presence on the islands, within its commitment to investment, sustainability and job creation in the Canary Islands.
The financing has obtained the sustainable rating as it is linked to ESG (environmental, social and good governance) parameters and links the price of the financing to the achievement of a series of objectives in this area.
Banco Santander has acted as sustainability agent and exclusive coordinator of the syndicated financing, in which CaixaBank, Cajamar, BBVA, Sabadell, Banca March, Deutsche Bank and Bankinter have also participated.
This is the first financing of this type (known as ESG linked loan in financial jargon) at the regional level in the autonomous community of the Canary Islands. The interest rate of the financing will be linked to HiperDino's performance in a series of environmental, social and corporate governance variables, including the reduction of energy consumption, employee training and sales of organic products. Each year, the achievement of these goals will be evaluated, assigning a grade that will condition the price to be paid.
For Javier Puga, CEO of DinoSol Supermercados, “this action reinforces the company's commitment to its Strategic Sustainability Plan, which is based on three pillars: commitment to society and Canarian families, increased marketing of sustainable products and services, and environmental management and the fight against climate change.”
In this sense, last August the chain inaugurated one of the largest photovoltaic self-consumption facilities in the Canary Islands at its logistics platform in Telde, Gran Canaria, after investing 600,000 euros, which is added to the battery of measures that have been implemented, mainly in renovations and new stores, using sustainable construction materials and incorporating LED lighting, temperature control systems, doors in cold walls and non-polluting refrigerant gases.
Another of its most outstanding projects is called Alimentos conVida. Launched in June 2020, its objective is to reduce losses and food waste in the chain's establishments and, at the same time, favor that those non-marketable products that are suitable for consumption reach the dining rooms and social entities of the Canary Islands.
Until October of this year, 609 tons had been donated to 31 dining rooms and social entities in the archipelago, and 13,441 people in unfavorable situations are helped every day.
