Financing tied to ESG targets
Where: All markets
What: We believe our actions, such as sustainable investments linked to socio-economic and environmental targets, move communities forward while sustaining our own future success. Building upon the steps our company took in 2019 with the issuance of a $200 million Sustainability Bond, we secured even deeper financial support last year based on the strength of our ESG work. This is another powerful way that our commitment to operating sustainably and being an agent of positive change in society also drives Millicom's business.
How: A five-year, $600 million ESG-linked revolving credit facility—or line of credit—that we established in October 2020 includes provisions that incentivize Millicom and some of our operating subsidiaries in Latin America to meet predetermined sustainability targets. Available funds have been used to refinance Millicom's existing multi-currency revolving credit facility and for general corporate purposes.
This approach to linking financial and ESG performance targets will help to advance in objectives such as:
- Reducing our environmental footprint through customer premises equipment recovery
- Training suppliers on Millicom’s core values and CR practices such as health and safety, anti-corruption, compliance, human rights and eco-efficiency
- Empowering women and reducing the gender gap by training women on digital literacy and entrepreneurship through our Conectadas program
- Training teachers, through our Maestr@s Conectad@s program, to deliver more effective online education for students