Benchmark Holdings PLC (AIM:BMK) told investors it has converted its existing NOK 190mln (£16mln) loan with Nordea Bank related to its genetics salmon egg facility in Salten, Norway into a so-called green loan.
The aquaculture biotechnology company said that in order to achieve the conversion to a new green loan, which remains as ring-fenced debt without recourse to the remainder of the group and has a marginally lower interest rate, it needed to meet key environmental, social and governance (ESG) criteria, including water management and the use of sustainable raw materials from deforestation-free sources.
Benchmark said its production facility in Salten, Norway is “designed for high biosecurity and high environmental standards”, and that providing access to salmon eggs with specialist genetic traits is a “crucial first step in the value chain to produce sustainably grown salmon”.
Chief executive Trond Williksen said the conversion “is a testament to Benchmark's commitment to ESG and sustainability, as well as to the successful development of our salmon genetics infrastructure and practices. We will continue to utilise green finance where appropriate whilst furthering our ESG and sustainability aims.
“Benchmark's commitment to sustainability is further underpinned by our net zero targets and the work underway to improve our energy efficiency and access to renewable energy sources."