Düsseldorf based diversified product manufacturer, Henkel, has become “the first company globally” to conclude a plastic waste reduction bond. The company said that to achieve this it has combined attractive corporate financing instruments with progress in sustainability to conclude the bond, a private placement with Japanese insurance companies Dai-ichi Life and Dai-ichi Frontier Life, which will be specifically allocated to projects and expenditures related to Henkel’s activities to reduce plastic waste. The bond has a total volume of $70 million and a maturity of five years.
The bond proceeds will contribute to finance key projects and activities in line with Henkel’s packaging targets for 2025. By then, 100% of the company’s packaging will be recyclable or reusable*, the amount of fossil-based virgin plastics will be reduced by 50% and Henkel wants to help prevent waste from being disposed in the environment.
Next to developing sustainable packaging solutions, Henkel is engaged in several partnerships and cross-industry initiatives that aim to drive innovation in packaging development and the transition towards a circular economy. For example, the company is a founding member of the Alliance to End Plastic Waste (AEPW) and partner of the Plastic Bank.
Source: Waste Management World
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