Manufacturer seals £170m loan to hit ESG targets

■ “How are we doing?”

■ “Is it good enough?”

■ “Are we doing the ‘right’ thing?”

Or, as I call them, the three ‘Elements of Control’:

■ Performance evaluation

■ Economic viability

■ Compliance adrian.goodman@ppxconsulting.co.uk www.ppxconsulting.co.uk 01536 856 740

If a business focuses on these elements intently and ensures that they are promoted throughout the organisation, financial control is achieved. Since all aspects of business carry a financial impact, this means that total control is achieved - the key to attaining consistent, profitable growth as opposed to making decisions on the fly and hoping they pan out.

The bad news is that it does not just happen. It takes robust processes, an understanding of rudimentary financial concepts and commitment to getting it right. The good news is that it’s not rocket science.

Jennie Jahina is a specialist employment lawyer, helping all sizes and types of private sector business, and public sector organisations. Jennie deals with strategic projects (restructuring, compliance, business relocations and outsourcing/insourcing exercises), day-to-day operational and people management matters, and employment tribunal representation.

If you need help with employment issues, call Jennie on 0800 088 6004.

Brick and concrete manufacturer Forterra has secured a £170 million loan to support its progress towards achieving its sustainability goals.

The Sustainability Linked Loan, co-ordinated by HSBC UK and funded by a syndicate of five banks, refinances the company’s existing bank loan and aligns its financing with its environmental, social and governance targets.

“By securing a Sustainability Linked Loan, we have greater liquidity to reinvest in our sustainability initiatives over time as we focus on reducing our carbon impact and plastic consumption while positively benefiting our employees,” said Northampton-based Forterra’s chief financial officer Ben Guyatt.

Forterra launched its People, Planet and Product sustainability pillars in 2019. These include a commitment to be net zero carbon by 2050, to improve the environmental impact of its products and provide greater opportunities to staff.

The loan, which refinances a previous loan, contains specific ESG targets, which include:

■ Reduce CO2 emissions in Forterra’s clay brick business;

■ Increase the percentage of employees combining study with practical experience to enhance their career;

■ Reduce the group’s overall plastic consumption.

■ HSBC says the loan will also create new opportunities for Forterra’s employees.

“Sustainability has become a strategic priority across the construction industry,” said HSBC UK relationship director Richard Bacon. “We expect to see greater adoption within the industry as leading construction businesses invest in their sustainability strategies.”