– The 18 million euro loan will be used for sustainability projects such as the installation of solar panels in several of its dryers, in addition to promoting innovation in its production processes, among other aspects.
– Through this type of financing, the ICO encourages Spanish midcaps to promote their competitiveness and investment in I+D
Incarlopsa, a leading company in the production and processing of pork products from Castilla-La Mancha, and the ICO (Official Credit Institute), have signed a loan of 18 million euros that Incarlopsa will allocate to innovative projects that will promote the sustainability of its production model.
Thus, Incarlopsa will continue to invest in the installation of more solar panels in the dryers located in Corral de Almaguer, Olías del Rey and Tarancón to improve its energy efficiency and cover a relevant part of the energy required in its production processes with clean and renewable energy. It will also implement innovative measures in production processes to promote quality, traceability and food safety, among other initiatives that are part of the company’s “Vision 2020” program, which aims to minimize the environmental impact of its activities, ensuring the protection and improvement of the environment.
This loan is the first granted by ICO to Incarlopsa linked to actions that promote sustainability. ICO, in accordance with its Sustainability Policy, prioritizes the identification, financing and measurement of the environmental and social impact of its activity. Within this framework of action, it applies the Sustainability-linked Loan Principles in certain operations, linking a component of their cost to the evolution of sustainability performance indicators (KPIs).
In the case of the loan signed with Incarlopsa, the KPIs identified and verified in the second opinion issued by Valora are the reduction of the carbon footprint, the more efficient use of water and the increase in training hours for employees.
Regarding this agreement, Miguel Ángel Jiménez, Incarlopsa’s General Manager of Administration and Finance, emphasized that “the financing provided by the ICO will allow us to reinforce our commitment to the sustainability of our production model through greater efficiency in our energy resources, the improvement of facilities and process innovation”.
For his part, José Carlos García de Quevedo, president of ICO, said that “ICO’s participation in this operation is part of the actions it is carrying out as a national promotional bank to boost the growth plans of Spanish midcaps, with the aim of achieving higher levels of competitiveness and investment capacity in I+D, sustainability and digitization”.