One of the reasons awarding sustainability-linked loan of the year for the corporate sub-category to Eiffel Investment Group was the consideration of Scope 1, 2 and 3 emissions with social inclusion, the judges remarked.

Eiffel acted as joint lead arranger, investing alongside other lenders, to provide beauty and luxury merchandising business Diam with a sustainability-linked loan to coincide with its leveraged buyout from Ardian Expansion.

The KPIs of the loan ensured Diam would reduce its emissions and water consumption. The KPIs are 'consistent' with Diam's SBTi commitment and strategy – notably a 46% carbon footprint reduction between 2019 and 2030.

Scope 1 & 2 measures are linked to plants investment and staff trainings on consumption, while Scope 3 actions are linked to life cycle analysis, eco design, materials used, manufacturing processes, collaboration with clients and suppliers and product end-of life.

The loan conditions help the company to commit and progress, as well as continue to improve ESG reporting with rigor and transparency.