Qair Integrates ESG Performance into Core Financing Framework

Advancing sustainable finance

The four KPIs address critical aspects of Qair’s operations and value chain. While the KPIs align with market standards, the thresholds set for each are more ambitious than the norm, demonstrating Qair’s determination to exceed business-as-usual expectations:

• Avoided Emissions across Qair’s sites: Measuring the positive climate impact of Qair’s operational renewable energy assets.
• Quality and Sustainability Standards in the Upstream Value Chain: Tracking the adherence of key suppliers to recognized industry standards. By addressing this challenge, Qair aims to foster a virtuous cycle across its entire value chain, reinforcing accountability and sustainability among suppliers.
• Upstream Value Chain Decarbonization: Incorporating a rendez-vous clause mechanism to ensure targets remain aligned with evolving best practices.
• Frequency Rate of Work-Related Accidents Resulting in Lost Work Time: Covering all employees and subcontractors across Qair’s offices and construction sites.

The implementation of this SLL reflects Qair’s advancement in ESG-linked financing, marked by the establishment of a dedicated sustainability team and the expertise and processes in place to measure, track, and evaluate the data required to assess performance against the KPIs. In line with Qair’s dedication to ongoing enhancement, the four KPIs will undergo annual audits by a third-party to ensure the highest standards of accountability and transparency.

A performance-driven approach to sustainability

The SLL mechanism ensures that Qair’s financing costs fluctuate based on its ability to meet or exceed the defined ESG targets. This performance-driven approach underscores the company’s focus on delivering tangible sustainability results and complements its existing sustainable finance framework, including green bonds.

“The integration of this sustainability-linked structure into our financing framework is a clear demonstration of our commitment to align our financial strategy with today’s sustainability standards. Addressing supply chain responsibility, in particular, showcases our willingness to tackle complex challenges and drive positive change across our entire value chain.” – Pierre-Henri François, Director of Financing and Structured Products at Qair.

« The ESG structure implemented in this sustainability-linked loan reflects Qair’s strong commitment to sustainability, notably in its environmental and social dimensions, and positions Qair favorably in its sector for such types of structures. Jointly with the Crédit Agricole Group teams, we are very happy and honored to have advised Qair’s Sustainability and Finance teams in this project, in an extremely fruitful cooperation. », – Alexis Collonge, Head of Sustainable Finance – Advisory & Structuring for French midcaps at BNP Paribas.

« We are pleased to have supported Qair as ESG Coordinator on this transaction. The Sustainability-linked structure incorporating key issues such as supply chain decarbonisation and safety at work reflects Qair’s commitment, as a pioneer in the field, to reconciling ambitious growth with sustainable energy transition.” – Johana Mariette, Sustainable Investment Banking, Crédit Agricole CIB.

“This ESG framework highlights the objectives and efforts pursued by Qair with the support of Crédit Agricole du Languedoc, a partner from the very beginning, as well as the Crédit Agricole Group’s commitment to making these issues a genuine driver of sustainable transformation. It also illustrates the Crédit Agricole Group’s ability to support Qair’s international development whilst ensuring a solid local presence.” – Marine Benayoun-Monguillot – Banque d’Affaires Entreprise (BAE), Crédit Agricole du Languedoc.