Benchmark converts $20 million loan for its salmon egg facility into a green loan
The loan, related to its genetics salmon egg facility in Salten, Norway, required the company to meet key ESG criteria, including water management and the use of sustainable raw materials from deforestation-free sources.
Benchmark has successfully converted its existing NOK 190 million (USD 20 million) loan with Nordea Bank related to its genetics salmon egg facility in Salten, Norway into a green loan.
The conversion of the loan into a green loan required the company to meet key ESG criteria, including water management and the use of sustainable raw materials from deforestation-free sources. Benchmark’s state-of-the-art, land-based production facility in Salten, Norway is designed for high biosecurity and high environmental standards. Access to salmon eggs with specialist genetic traits is a crucial first step in the value chain to produce sustainably-grown salmon.
Trond Williksen, CEO of Benchmark Plc., commented that “the conversion of our existing loan with Nordea into a green financing facility is a testament to Benchmark’s commitment to ESG and sustainability, as well as to the successful development of our salmon genetics infrastructure and practices. We will continue to utilize green finance where appropriate while furthering our ESG and sustainability aims. Benchmark’s commitment to sustainability is further underpinned by our net-zero targets and the work underway to improve our energy efficiency and access to renewable energy sources.”