KPN has concluded a €1 billion credit facility with an interest rate linked to KPN’s sustainability performance in the years ahead.
This financing agreement gives a further boost to KPN’s sustainability ambitions. Earlier this year, KPN announced that it was ratcheting up its sustainability ambitions to 'net zero' emissions throughout the chain in 2040.
The credit facility interest rate is linked to KPN’s performance in relation to three strategic sustainability targets: speeding up the digitization of the Netherlands by rolling out fiber optics, reducing KPN’s energy consumption, and decreasing CO2 emissions throughout the chain (Scope 3 emissions).
The new facility has a maturity of five years with two one-year extension options. The credit facility replaces the current facility, which dates from 2016, and will be used mainly as a liquidity reserve.
Digitization the driving force behind energy saving Sustainability is an integral part of KPN’s strategy. For instance, the company has been using exclusively green power since 2011, has been climate neutral since 2015 and aims to be virtually circular by 2025. This means that KPN will focus even more on reducing the emissions of suppliers and customers when using their products and services.
Chris Figee, CFO, KPN
Thanks to digitization across the network of the Netherlands, we as a society are succeeding in achieving significant energy savings. Thanks to digital processes, in 2020 KPN saved its customers a total of three times the energy needed to run the KPN network.
