TITAN Group announced the creation of a Sustainability-Linked Financing Framework, in alignment with its goals for reducing greenhouse gas emissions, which have been validated by the Science Based Targets initiative (SBTi).
This Framework marks a critical step in accelerating Titan’s sustainable development, in line with its 2026 strategy. By aligning its financial strategy with sustainable development (ESG) goals, TITAN demonstrates its long-standing commitment to responsible business practices and creating long-term value for its stakeholders.
According to the announcement, the Framework creates the conditions for the future issuance of sustainability-linked notes and more specifically with the Group’s sustainable development goals. Proceeds from future issuances of these bonds will fund general corporate plans, including sustainable development projects and initiatives to reduce Titan’s carbon footprint, with the goal of transitioning to zero CO2 emissions.
Sustainalytics, a leading, independent company in the field of research, evaluations and data analysis on ESG issues, issued a Second-Party Opinion report on this Framework. According to this, the Framework meets the five key elements of the Sustainability Linked Bonds Principles for 2023. The Key Performance Indicator (KPI) chosen, Scope 1 gross greenhouse gas emissions (measured in kgCO2 emissions per tonne of cementitious product) , is considered “very powerful”. In addition, the TITAN Group’s Sustainable Performance Targets (SPTs) are considered “very ambitious” and are consistent with the Paris Agreement and the SBTi Initiative’s goal of limiting temperature increase to 1.5°C.
Leonidas Kanellopoulos, Director of Sustainability and Innovation at TITAN Group, said: “The transformation of the building materials industry towards a more sustainable future with a carbon neutral footprint requires significant investment, with sustainable finance playing a key role in this transformation. Based on this Framework, the Group will attract a wider investor base, including those focusing on sustainable investments and ESG portfolios. Our financial and sustainable development strategies are now aligned, further strengthening the confidence of our stakeholders.”
