Amey, one of the UK’s leading infrastructure services and engineering companies, is pleased to announce the successful conversion of its £235 million external borrowing to a Sustainability Linked Loan (SLL). This financial development reinforces Amey’s commitment to achieving its Environmental, Social, and Governance (ESG) targets, aligning its financial strategy with its sustainability goals.
The conversion is designed to drive Amey’s long-term ESG strategy and includes key commitments:
- Net Zero by 2040: Year-on-year emissions reductions, supporting Amey’s goal to be a Net Zero organisation by 2040.
- Supplier Sustainability: By 2028, 60% of Amey's suppliers with annual spending under £1 million will have committed to or approved Science-Based Targets initiatives (SBTis).
- Inclusive Recruitment: By 2028, 8% of new hires will come from target groups, including previously unemployed individuals, NEETS (not in education, employment, or training), veterans, prison leavers, and care leavers.
The conversion is supported by a distinguished group of lenders, including ABN AMRO Bank N.V., The Governor and Company of the Bank of Ireland, Citibank, N.A., London Branch, HSBC UK Bank plc, JPMorgan Chase Bank, N.A., London Branch, and National Westminster Bank PLC. Leading the transaction as the Sustainability Coordinator is ABN AMRO Bank N.V.
This SLL not only exemplifies Amey’s dedication to embedding sustainability into its core business practices but also highlights the importance of linking financial performance with measurable environmental and social outcomes. Amey remains focused on creating opportunities to contribute to a more sustainable future.
Andy Milner, CEO of Amey, says: “Converting our borrowing to a Sustainability Linked Loan marks a significant milestone in Amey’s journey towards becoming a more sustainable and socially responsible business. This facility not only provides the financial flexibility to meet our operational goals but also ensures we remain accountable for delivering on our ESG commitments. We are grateful to our lender group for their support in progressing our sustainability vision.”
Richard Wilkins-Smith, Director at ABN AMRO Bank N.V., says: “We are proud to have supported Amey as Sustainability Co-ordinator for their inaugural Sustainability Linked Loan facility. It was a pleasure to work closely with them throughout this process, and we are pleased to have played a role in advancing their sustainability journey.”