Sweden’s Greenfood AB, a leader in healthy, convenient food from fruits and vegetables to sandwiches, was granted a four-year sustainability bond worth SEK 1,050 million.
Greenfood Group says the bond, which is linked to its sustainability targets, drew huge interest from Nordic and European capital investors and became oversubscribed. It had received the highest potential rating from an independent reviewer.
“The bond gives Greenfood greater financial flexibility to invest in more sustainability projects and in future growth. At the same time, the bond is a clear and transparent visualization of our very ambitious climate targets,” David von Laskowski, President and CEO of Greenfood Group, said.
The company said its three goals in meeting that mission include:
- Reducing climate emissions from Scope 1 and Scope 2 by 55% per tonnes of sold food
- Defining science-based, mission reduction targets and be validated by SBTi
- Reducing food waste by 20% by 2025, and 45% by 2030
Greenfood has become a top player in fresh produce, having recently gained shareholding interest in Jaguar The Fresh Company. It also has been a leader in sustainability and technology, using artificial intelligence to reduce food waste in their salad bars, which building a new centre for sustainable and healthy food. That centre will be equipped with the latest in retrofitted cooling systems and heat recovery while featuring a solar park to fill its electricity needs.
It’s A rating from the Governance Group (TGG) shows it is above par when it comes to meeting tough environmental standards.
“Getting the highest rating for our sustainability framework is proof that we are developing our sustainability work in the right direction and that the market ratifies our ambitious environmental targets,” von Laskowski said.
The bond will be listed on Frankfurt and Nasdaq Stockholm.