17th Dec 2021 10:49
(Alliance News) - Vistry Group PLC announced on Friday the completion of its new sustainability-linked revolving credit facility.
The Kent-based housebuilder said the interest payable on the facility is determined, in part, by its ability to meet three sustainable performance targets.
Vistry said that meeting these targets would result in lower interest payments for the company and that these interest savings will be put into a matching fund for charitable activities undertaken by its staff.
The three targets are: to put 550 learners through the company's skills academies by 2025; to reduce scope one and scope two carbon emissions by 4.2% each year; to deliver a year-on-year increase in additional affordable homes beyond its planning compliance requirements.
Scope one emissions cover the emissions a company makes directly through its operations, while scope two emissions are those made indirectly by a company, such as the energy used at its facilities.
Vistry said it will deliver around 850 additional affordable homes in excess of its planning compliance obligations in 2021 as part of its commitment to its third sustainability target.
Shares in Vistry were up 0.8% at 1,128.50 pence on Friday morning in London.
By Heather Rydings; [email protected]
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