Alma Media Oyj publishes Sustainability-Linked Finance Framework
Alma Media Corporation Press Release 19 July 2023
ALMA MEDIA OYJ PUBLISHES SUSTAINABILITY-LINKED FINANCE FRAMEWORK
Alma Media launches a Sustainability-Linked Finance Framework and incorporates sustainability in the next company’s financing agreement.
The Sustainability-Linked Finance Framework is built around Key Performance Indicators material to Alma Media’s business and they promote sustainability improvements that mitigate climate change. The financial characteristics of the Framework are linked to the achievement of two Sustainability Performance Targets, namely reducing GHG emissions from Alma Media’s own operations (Scope 1 and 2) and in subcontracting chain (Scope 3).
The Sustainability-Linked Finance Framework is issued in accordance with the Sustainability-Linked Bond Principles (SLBP) 2020 as administered by International Capital Markets Association’s (ICMA). Substantially similar core components are outlined under the Sustainability Linked Loan Principles 2022, published by the LMA in connection with sustainability linked loans.
The Framework has been reviewed by ISS Corporate Solutions, a second opinion provider, confirming the alignment with the Sustainability-Linked Finance Framework by ICMA and LMA. ISS Corporate Solutions considers the Sustainability Performance Targets in the Framework to be Robust, indicating the highest ambition level, and the related Key Performance Indicators to be Best Practice (highest possible category)*.
The Sustainability-Linked Finance Framework is designed to align Alma Media`s sustainability plan with the long-term financing strategy of the company. Alma Media can issue under this Framework financing instruments, including but not limited to: Sustainability-Linked Bonds, Sustainability-Linked Loans, and Schuldscheins.
“Sustainability work is an integral and constantly developing part of our operations. In our 11 operating countries the management and employees are already committed to common sustainability targets alongside our financial targets. The Sustainability-Linked Finance Framework enables us now to place our sustainability ambitions also at the heart of the financing strategy. Introducing this Framework for sustainability-linked financing with the highest scores in the external review, underlines our strong commitment to our sustainability targets and our ability to deliver on it, says Juha Nuutinen, CFO, Alma Media Oyj.
OP Corporate Bank plc has acted as a sustainability advisor for Alma Media in the development of the framework.
The Sustainability-Linked Finance Framework and the Second Party Opinion are published at Alma Media`s website: https://www.almamedia.fi/en/investors/why-invest-in-alma-media/responsible-investment/.
* ISS Corporate Solutions has assessed the Key Performance Indicators with a scale of Not Aligned (lowest category), Aligned, and Best Practice (highest category). The ambitiousness of the Key Performance Indicators has been assessed with a scale of No Evidence (lowest category), Limited, Good, and Robust (highest category).
Additional information:
Juha Nuutinen, CFO tel. +358 10 665 3873
Alma Media in brief
Alma Media is an international company of digital media, marketplaces and services with a strong capacity for renewal. We inspire human curiosity and choice by creating services that combine technology and content with a local heart. In Finland, our best-known brands include Kauppalehti, Talouselämä, Iltalehti, Jobly, Etuovi.com, Nettiauto and Nettimoto. Our recruitment services include prace.cz and jobs.cz in the Czech Republic, Profesia.sk in Slovakia and mojposao.net in Croatia.
In Finland, our business operations include leading housing and automotive marketplaces, financial and professional media, national consumer media and content and data services for businesses and professionals. Alma Media’s international business in Eastern Central Europe, Sweden and the Baltic countries consists of recruitment services and an online marketplace for commercial properties.
Alma Media operates in 11 countries in Europe and employs approximately 1,700 professionals. Alma Media’s revenue from continuing operations was EUR 309 million in 2022 of which the share of digital business was 81%. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.fi/en/.
- Published: 19.7.2023, 08:30
- Category: Press release