Back to the Learning Academy or ESG 101.

Exercising ESG v.6

Exercising ESG - Steps in the Right Direction
Aya Gold & Silver
TSX:AYA

Aya Gold and Silver announced in 2023 that they secured a loan through Climate Technology Funds to support construction of their Zgounder Silver Mine expansion project. The loan terms allow for a reduction in the interest rate should Aya achieve three milestones -

Milestone 1: Task Force on Climate-related Financial Disclosures ("TCFD") report disclosed by end of 2023 will result in a 25% rate reduction;

Milestone 2: Completion of certain capital expenditure set out in the TCFD report and in the development plan by end of 2024 will result in a 50% rate reduction;

Milestone 3: Reaching "advanced" maturity on the TCFD's Climate Governance and Strategy recommendation will result in reduction of interest to an all-in rate of 1.00%.

Read Aya's press release outlining more details about the ESG-linked loan.

Related Articles

What is an ESG Assessment?

What is an ESG Assessment, and how does it differ from an ESG Needs Assessment and an ESG Materiality Assessment? SOOP Strategies answers all of the above in this article.

The transformative power of the CSRD - Part 1: The regulation itself

The passing in the EU of the Corporate Sustainability Reporting Directive (CSRD) is forcing a step change in corporate sustainability reporting that may well transform how sustainability is embedded into business.