Second-Party Opinion Download

Sustainalytics is of the opinion that the Electrolux Group Sustainability-Linked Financing Framework aligns with the Sustainability-Linked Bond Principles 2023 and Sustainability-Linked Loan Principles 2023. This assessment is based on the following:

Selection of Key Performance Indicators

The Electrolux Group Sustainability-Linked Financing Framework defines the following KPIs: i) Absolute scope 1 and 2 GHG emissions (tCO₂e); and ii) Absolute scope 3 GHG emissions (tCO₂e) (see Table 1). Sustainalytics considers the chosen KPIs to be very strong given that they: i) represent a direct measure of Electrolux Group’s performance on a relevant and material environmental issue; ii) jointly have a high scope of applicability; iii) follow a clear and consistent methodology that is externally defined; and iv) support benchmarking against external GHG emissions reduction trajectories.

Calibration of Sustainability Performance Targets

Sustainalytics considers the SPTs to be aligned with Electrolux Group’s sustainability strategy. Sustainalytics further considers the SPTs to be highly ambitious based on comparison with historical performance, targets set by peers and science-based trajectories, as applicable.

Financial Instrument Characteristics

Electrolux Group has linked the financial characteristics to the achievement of the SPTs. Failure to achieve these SPTs will lead to a trigger event resulting in a step-up in the coupon rate or a redemption price adjustment.

Reporting

Electrolux Group commits to report on its progress on the KPIs in its Sustainability-Linked Financing Progress Report on an annual basis. Electrolux Group also commits to disclose relevant information enabling investors to monitor the level of ambition of the SPTs.

Verification

Electrolux Group commits to have external limited assurance conducted against each SPT for each KPI at least once a year.