Eni has announced that it had signed a five-year sustainability-linked revolving credit line worth €3 billion.

This credit line is related to two targets of Eni’s Sustainability-Linked Financing Framework, which was last updated in April 2023.

The company’s new facility will further strengthen its financial flexibility, complementing a similar €6 billion sustainability-linked credit line signed in 2022.

The margin of the new credit line is linked to the achievement of sustainability targets, which include reducing Eni’s net carbon footprint upstream (scopes 1 and 2) and increasing the installed capacity to produce electricity from renewable sources. This shows Eni’s commitment to sustainability and its efforts to reduce its environmental impact.

The credit line has been granted by 26 leading global financial institutions. These include Mediobanca as the global coordinator, documentation, and facility agent; MUFG as the global and sustainability coordinator; and Citi and Natixis as global coordinators.

Other institutions involved are HSBC, UniCredit, Intesa Sanpaolo, Bank of America, BNP Paribas, BPER Banca, Société Générale, Wells Fargo, Agricultural Bank of China, BBVA, Banco BPM, Barclays Bank, Credit Agricole CIB, Deutsche Bank, DNB Bank, First Abu Dhabi Bank, Goldman Sachs, J.P. Morgan, National Bank of Kuwait, Santander Corporate & Investment Banking, SMBC Bank, and Standard Chartered.