MEKO connects sustainibility targets to its existing bank loans

22 June 2023 08:00

MEKO strengthens its sustainability efforts by linking sustainability targets to the company's existing bank loans amounting to 1,965 million SEK. MEKO thus becomes one of the first companies in the independent vehicle aftermarket in Northern Europe to link its bank loans to sustainability.

The decision to link the bank loan is part of MEKO's new and more ambitious sustainability strategy. By integrating sustainability work into more parts of MEKO through this connection, it also becomes easier for the company to develop and sharpen its sustainability targets over time.

The loan, signed in July 2022, amounts to 1,965 million SEK. Two sustainability taargets are attached as conditions:

• Increased focus on the use of renewable energy.
• Increased focus on gender equality.

In addition to these goals, MEKO has previously committed to setting climate goals in line with the Science Based Targets initiative (SBTi), an international framework for reducing greenhouse gas emissions. The goals that MEKO intends to develop within SBTi may also be linked to the company's financing in the future.

"This is an important step in MEKO's sustainability work. It demonstrates that we are turning our increased ambitions in sustainability into reality and that there is trust in our strategy. Today, we are a leader in the independent auto aftermarket in Northern Europe, and now we strengthen this position by linking our financing to our sustainability strategy in this clear manner," says Louise Wohrne, Sustainability Manager at MEKO.

The bank loan has a term of three years with the possibility of extension for up to two years. Nordea has been the sustainability coordinator in connection with the establishment of the new agreement, with the other participating banks being Danske Bank and Svensk Exportkredit.

For further information, please contact:

Louise Wohrne, Head of Sustainability, MEKO
Phone: +46 (0)8-464 00 20
Mail: louise.wohrne@meko.com

Åsa Källenius, CFO, MEKO
Phone: +46 (0)8-464 00 20
Mail: asa.kallenius@meko.com

Anders Oxelström, Director of Communication (Interim)
Phone: + 46 73 522 52 42
Mail: anders.oxelstrom@meko.com