DNV Banner
Home » News » X-Press Feeders secures sustainability linked loan from Asian Infrastructure Investment Bank

X-Press Feeders secures sustainability linked loan from Asian Infrastructure Investment Bank

The US$165 million loan will be used to fund all sustainability linked activities for reducing carbon emissions.
Facebook
Twitter
LinkedIn
WhatsApp
Email

X-Press Feeders is proceeding with a fleet renewal programme by purchasing three 7,000 TEU newly built container ships, replacing older, less-efficient vessels with new, more fuel-efficient ones.

“Sustainability-linked finance incentivises the achievement of environmental, social or governance targets through pricing incentives,” said the company.

“We have a commitment to reduce the annual efficiency ratio of our fleet by 40% between 2019 and 2027. This financing is our first sustainability-linked loan, and pricing incentives are tied to our performance,” added X-Press Feeders. “The target, which will be reviewed in 2027, ties with XPF’s global emission reduction target of halving our absolute emissions by 2040 and achieving net-zero emissions by 2050, supporting the broader shipping industry’s efforts to align itself with the Paris Agreement,” it noted.

Facebook
Twitter
LinkedIn
WhatsApp
Email

Subscribe to Our Newsletter

One Ocean Maritime Media Private Limited
Email
Name
Share your views in comments