Air Liquide signs new green financing for low-carbon hydrogen production in China aligned with EU Taxonomy
July 18 2023 - 11:45AM
Business Wire
Regulatory News:
Within the context of its project to build two
low-carbon hydrogen production units and related infrastructure in
the Shanghai Chemical Industry Park (SCIP), Shanghai Chemical
Industry Park Industrial Gases Co., Ltd (SCIPIG), a subsidiary of
Air Liquide (Paris:AI), signed a bilateral green loan for 500
million RMB (around 67 million euros) with BNP Paribas as the sole
lending bank. This green loan follows the China-EU Common Ground
Taxonomy, with stringent criteria on hydrogen production and an
emission threshold for the definition of low-carbon hydrogen. It is
as well aligned with the international Green Loan Principles 2021
and the Equator Principles (2020). It has received a Second Party
Opinion from the independent expert DNV.
It is the first green loan worldwide to support low-carbon
hydrogen production in alignment with the new China-EU
Common Ground Taxonomy. SCIPIG will monitor the environmental
benefits of this project on a regular basis and will report
annually to the lender on selected indicators, including the annual
avoided greenhouse gases emissions and the hydrogen annual
production volume. As they will replace a third party coal-based
gasification unit, the new units will avoid the emission of 350,000
tonnes of CO2 per year, which is equivalent to the electricity
related emissions of 1 million Chinese households.
Air Liquide is a front runner in green financing. The Group
issued a first SRI-labeled bond as early as 2012 to finance
the expansion of its Home Healthcare business. In 2019, it signed a
sustainability linked syndicated credit line and, in 2021,
it issued a green bond, raising 500 million euros dedicated
to financing and refinancing the development of several sustainable
projects, in particular in hydrogen, biomethane and oxygen.
Jérôme Pelletan, Chief Financial Officer of Air Liquide
Group, said, “This green loan is a recognition of Air Liquide’s
ability to uphold projects abiding by the highest environmental
standards. It also illustrates our historical pioneering spirit in
sustainable financing as this is the first green loan to support
low-carbon hydrogen production in alignment with the new China-EU
Common Ground Taxonomy. In line with its ADVANCE strategic plan,
the Group keeps developing reliable and competitive solutions which
help its customers reduce their carbon footprints.”
About Air Liquide Group
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 73 countries with
approximately 67,100 employees and serves more than 3.9 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart
of Air Liquide’s strategy. With ADVANCE, its strategic plan for
2025, Air Liquide is targeting a global performance, combining
financial and extra-financial dimensions. Positioned on new
markets, the Group benefits from major assets such as its business
model combining resilience and strength, its ability to innovate
and its technological expertise. The Group develops solutions
contributing to climate and the energy transition—particularly with
hydrogen—and takes action to progress in areas of healthcare,
digital and high technologies.
Air Liquide’s revenue amounted to more than 29.9 billion euros
in 2022. Air Liquide is listed on the Euronext Paris stock exchange
(compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX
50, FTSE4Good and DJSI Europe indexes.
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Corporate Communications media@airliquide.com
Investor Relations IRTeam@airliquide.com
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