Continuing to promote the development of a sustainable and responsible economy, SEB banka has granted financing in the amount of 6 million euros for the implementation of the beverage packaging deposit system of SIA “Depozīta Iepakojuma Operators” in Latvia from 1 February 2022. ‘
This is the first Green Loan issued by SEB banka in Latvia, which is available to companies that implement environmentally friendly and sustainable business solutions.
Green bonds were developed as a concept by SEB and the World Bank in 2008, taking into account the growing demand from investors to engage in climate change initiatives. In 2017, SEB issued the first green bonds worth EUR 500 million. Part of the proceeds from these bonds are used to provide financing to Baltic companies that plan to implement sustainable, environmentally friendly projects.
“We cannot pretend that we are not affected by climate change, so we need to act now to reduce our environmental impact in the future. The introduction of a deposit system is an important tool for reducing the amount of waste that enters the environment. It has been talked about at the national level for years, so it is gratifying that the talks are turning into concrete work and we can also support the implementation of this project. As a bank, our direct impact in the context of climate change mitigation is only 5%, the remaining 95% are indirect impacts from bank-financed projects, so it is important to support business activity and initiatives to work together to create a better environment for ourselves, both for future generations. SEB’s goal is to continue to be among the leaders in the field of environmentally friendly investments and to promote the implementation of sustainable projects. About 50% of the SEB Group’s Green Loan portfolio consists of renewable energy projects, while the rest is financed by “green” buildings, transport and energy efficiency projects, ”says Ints Krasts, Member of the Board of SEB banka.
“The deposit system is the next stage in the development of reducing the amount of waste that enters the environment and introducing a well-functioning, stable circular economy. By combining modern technologies with smart and sustainable system management, we are able to quickly and efficiently achieve environmental goals and increase packaging recycling rates. If currently the biggest environmental pollution in forests, lakes, rivers and seas, as well as in parks is made up of plastic or PET packaging, it is expected that with the introduction of the deposit system we will be able to collect and recycle twice as much plastic packaging. In turn, beverage manufacturers will be able to recover up to 90-95% of refillable glass containers in order to put them back on the market, ”comments Miks Stūrītis, Chairman of the Board of SIA Depozīta Iepakojuma Operators.
It is planned that on February 1, 2022, a unified deposit system for beverage packaging will start operating in Latvia. It will be possible to transfer glass, plastic (PET) and metal (cans) soft and alcoholic (less than 6%) beverage packages in the deposit system. For each purchased deposit package, the resident will have to pay a deposit in the amount of 0.10 euros, which can be returned after handing over the package, if the package to be handed over has a special identification mark and barcode, as well as the package is emptied.
The company “Deposit Packaging Operator” was established in June 2020. The owners of the company are SIA “Beer and Beverage Packaging Union”, SIA “Coca-Cola HBC Latvia”, JSC “Cēsu alus”, SIA “Cido grupa” and JSC “PET Baltija”, JSC “Aldaris”, “Latvian Retailers Association” and Latvian Brewers’ Union.
SEB banka’s Green Credit is available to large companies that choose to invest responsibly – renewable energy production, energy efficiency improvement, sustainable forestry, as well as the implementation of waste management and other environmentally friendly projects, which result in reduced CO2 emissions.
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