Manufacturer Henkel launches $70 million bond to help it reduce plastic waste

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Henkel
Packaging from Henkel

The manufacturer of brands such as Persil and Unibond has raised $70 million (£56 million) that will be allocated to Henkel’s activities to reduce plastic waste.

With a maturity of five years, the bond was a private placement with Japanese insurance companies Dai-ichi Life and Dai-ichi Frontier Life.

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It is believed to be the first company to issue a bond to reduce plastic waste.

Henkel chief financial officer Marco Swoboda said: “Sustainability is not only firmly embedded in our strategic framework for the future but also increasingly relevant for investors and the financial markets.

“We are proud to be the first corporate issuer of a plastic waste reduction bond, one more demonstrating our ability to conclude innovative sustainable investment instruments at attractive terms.”

The proceeds of the bond will be used to meet Henkel’s packaging targets for 2025. By then, the company is aiming for 100% of its packaging to be recyclable or reusable.

Henkel is also aiming to reduce the amount of fossil-based virgin plastics it uses by then by 50%.

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