July 12, 2022 |
Brazil's state-owned oil company Petrobras said Monday that it signed its first sustainability-linked loan for $1.25 billion, tying the interest rates to targets for lowering emissions.
Petrobras decided to take out the five-year loan from Bank of China, MUFG and Scotiabank amid "a challenging capital market environment this year," CFO Rodrigo Araújo told LatinFinance.
"This is an evolution in our sustainability agenda," added Rafael Chaves, sustainability director at Petrobras. "It is important
Brazil's state-run oil company ties the rates on a five-year, $1.25 bln loan to targets to lower carbon dioxide emissions