BRF SA, the Brazilian chicken and pork processor, revealed on Thursday that it has linked sustainability objectives to a $150 million credit facility from the First Abu Dhabi Bank, which was approved in March, as per the company’s disclosures.
This marks BRF’s first green loan for deployment in the Middle East and North Africa, with the credit line aimed at facilitating the company’s business expansion in the region.
Green or sustainability loans are credit facilities designed to bolster business activities with a focus on social and environmental sustainability.
Bruno Massera, financial director of international markets at BRF, said in a statement, “At BRF, we defined the criteria for reducing scope 1 and 2 emissions, and for increasing clean energy consumption as a performance indicator linked to the loan.”
“These are relevant goals for BRF and are aligned with the challenge of putting into practice the fight against climate change discussed during COP28,” Massera added.
In 2021, BRF declared its dedication to the Science-Based Target Initiative (SBTI) and has been actively pursuing the reduction of greenhouse gas (GHG) emissions throughout its supply chain, as outlined in the statement.
The statement further highlights that in 2022, BRF accomplished a “26% reduction in absolute greenhouse gas emissions, as defined in scopes 1 and 2.”
Scope 1 emissions encompass direct GHG emissions originating from assets owned and controlled by the company, while Scope 2 emissions comprise indirect emissions stemming from purchased energy, including electricity, steam, heat, or cooling.
Scope 3 emissions, on the other hand, encompass all additional indirect emissions occurring throughout a company’s value chain.
