UltraTech Cement has obtained a $500m sustainability-linked loan from Sumitomo Mitsui Banking Corporation, State Bank of India, BNP Paribas and other lenders. Capital Market News has reported that the conditions for the loan align with UltraTech’s 2050 Net-Zero Roadmap. Under the roadmap, the subsidiary of Aditya Birla Group aims to reduce its Scope 1 CO2 emissions per tonne of cementitious material by 27% between 2017 and 2032, and to raise its reliance on renewables to 85% of its energy consumption by 2030.
UltraTech Cement previously issued sustainability-linked bonds in 2021.
