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Exercising ESG v.6
December 6, 2023
TMX Group
ESG, Governance, Disclosure
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.
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