02/11/22

From BNL BNP Paribas, a positive loan of €40 million for LU-VE Group

The loan from the Bank is intended for the development plans, aimed at mitigating climate change, of LU-VE Group, an Italian multinational and the third largest manufacturer of air heat exchangers in the world. With the "positive loans" of BNL BNP Paribas, the conditions of the loan become more competitive on achieving previously identified and constantly monitored sustainability objectives.

Roma/Uboldo (VA), 2 November 2022 - BNL BNP Paribas has structured a €40 million "positive loan" (technically a sustainability-linked loan) for LU-VE Group, a multinational company based in Varese, Italy, listed on the Euronext STAR Milan segment of the Euronext Milan market and the third largest manufacturer in the world in the field of air heat exchangers for refrigeration, industrial processes, air conditioning (civil, industrial and precision) and power generation.

The "positive loan" of BNL BNP Paribas stipulates conditions which become even better for the company upon achieving precise sustainability objectives. Specifically, the loan is intended for the development plans of LU-VE Group aimed at mitigating climate change. The Group contributes directly to the well-being of the environment through the development of heat exchangers that use natural refrigerant fluids (CO2, ammonia, propane and glycol water), instead of hydrofluorocarbons (HFCs), with the consequent benefit of eliminating or drastically reducing negative impacts on the environment (ODP - Ozone Depletion Potential and GWP - Global Warming Potential), thus also responding to the green requirements of its customers.

Mariaelena Gasparroni, Director of the Corporate Banking Division of BNL BNP Paribas: "Thanks to sustainable business instruments such as "positive loans", we continue to support in partnership Italian industrial companies which are also recognized internationally as actors of importance in their reference sectors. The loan from BNL BNP Paribas to LU-VE Group, a company that invests in technological innovation and is active in protecting the environment, is therefore fully part of the "positive banking" strategy common to the Bank and the entire BNP Paribas Group worldwide, combining business and economic, environmental and social sustainability".

Matteo Liberali, CEO of LU-VE Group said: “We are very happy to have stipulated this loan with BNL BNP Paribas to support the sustainable development plans of LU-VE Group, which has always shown great attention to ESG matters. An approach that has always been in our DNA: care for people, innovation and respect for the environment have been the hallmarks of our way of doing business since 1986. In 2004, we built the first transcritical CO2 plant in Europe, focusing decisively on natural and environmentally friendly refrigerant fluids, even then in line with the most recent sustainability objectives adopted internationally today. Our research and development team is working, in advance of other market operators, on high energy-efficiency products, with natural coolants with reduced environmental impact, low noise levels, high reliability over time. Thanks to the agreement with BNL we will be able to accelerate our green transition and study even more innovative and cutting-edge applications ".  

BNL BNP Paribas works closely with companies - small, medium and large - and their respective production chains both for requirements related to their daily business activities and in times of growth in Italy and on international markets, thanks also to the expertise of the BNP Paribas Group which, through its specialists, is directly present in about 70 countries around the world. The Bank also works alongside entrepreneurs on the sustainability front to create growth with respect for the environment and people and for a healthy and attentive economy. BNL is in fact making numerous "positive loans", currently €1.3 billion disbursed to businesses, to fuel a virtuous circle in terms of support for sustainable industrial production, to generate a positive impact and to contribute to a better future with particular attention to the new generations.

The main mission of the BNP Paribas Group is to offer secure and innovative financial solutions, also committing itself to the strategic plan, to address the fundamental challenges in the field of the environment, territorial development and social inclusion. The Group has made restrictive commitments in financing coal, aiming for total withdrawal in 2030 in EU countries and in 2040 around the world. The Group has already stopped financing companies in the extraction and marketing of shale oil, shale gas and oil from the Arctic, as well as those active in the tobacco business.

For these commitments, the Group has been rated at the highest standards by non-financial agencies and industry rankings and has been nominated by Euromoney's Awards for Excellence 2022:

• “World’s Best Bank for Sustainable Finance”
• “World’s Best Bank for ESG Data”.