Renault Group has announced the successful placement of its first green bond, amounting to 850 million euros, maturing on 30 September 2030 with a coupon of 3.875%.
“The issuance was heavily oversubscribed, reflecting investors’ confidence in the Group’s strategy and its ability to drive and accelerate its transformation, supported by the solid foundations of the ‘Renaulution’ strategic plan,” the company stated in a document.
The proceeds will be used to finance and refinance investments related to zero-emission vehicles as part of its strategy to achieve carbon neutrality in Europe by 2040 and globally by 2050, with interim milestones set for 2030.
In addition, the issuance of this bond will strengthen the French company’s ability to continue driving investment in the production of more sustainable models at a time when the industry is grappling with weak demand for battery-powered vehicles.
To achieve these objectives, the Group has set out a concrete action plan that covers the reduction of emissions during the vehicle usage phase, the production of components (materials, batteries, and logistics), and emissions from its manufacturing plants.
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