Translated version of this PSD: Slovak
The EBRD is considering the provision of a long-term loan of up to EUR 40 million to the Slovenian retail company Spar Slovenija d.o.o. (the “Company”). The loan will be used to finance part of the Company’s capital expenditure plan, which includes amongst others significant energy efficiency investments..
The transition impact of the proposed Project derives from setting standards of corporate governance and business conduct in the retail sector in Slovenia, in particular with respect to sustainable supply chain management and building standards, as well as the reporting of sustainable best practice.
Spar Slovenija d.o.o., a subsidiary of Spar Austria Group.
A senior loan of up to EUR 40 million.
EUR 100 million.
The Project has been categorised B in accordance with the EBRD Environmental and Social Policy 2008. Environmental and social due diligence (ESDD) has been undertaken by the Bank’s Environment and Sustainability Department based on a review of the Company’s corporate management systems and relevant information made available by the Company as well as a site visit and discussions with the Company’s representatives.
The Bank’s environmental and social due diligence showed that the Company has adequate corporate systems in place to manage their environmental, health and safety (EHS) issues and that at both the corporate and store level the Company is substantially compliant with Slovenian regulatory EHS requirements.
An Environmental and Social Action Plan (ESAP) has been developed, and agreed with the Company, to address the necessary mitigation measures and improvements which will allow the Company to achieve compliance with national regulations and the Bank’s PRs. Specifically, the ESAP requires the Company to develop procedure for environmental and social risk assessments for all new supermarkets during the site selection, develop mitigation measures to manage the risks and potential impacts for all new supermarkets and address deficiencies of the Company’s performance in relation to the construction activities and HR and labour risks.
The ESAP also contains requirements to develop and implement number of actions as they specified in the transition impact section to improve Spar’s operations in terms of sustainability, with a particular focus on modern supply chain management and resource efficiency, implementation of sustainability disclosure standards in Spar operations as well as among their suppliers. Implementation of the ESAP will help the Company to achieve compliance with international standards and will bring the Company beyond the prevailing EHS standards in the sector in Slovenia and will enable a capacity to create a blueprint for sustainability monitoring and reporting in the food retail sector and its supply chain.
The Bank will monitor the Companies’ environmental and social performance for the lifetime of the loan through annual environmental and social reporting and via periodic site visits. The Companies will be required to immediately notify the Bank of any incidents or accidents likely to have an effect on the environment, employees and public safety.
The Bank has undertaken an energy efficiency audit of reference retail facilities of Spar Slovenija, funded under the Energy Performance Assessment Framework.
Jure Petkovsek, Finance Director
Phone: +386 (0) 1 5844 400
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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