Chemical firms get social responsibility loans

Three European chemical companies have signed up for loans with rates that depend on their success in meeting social responsibility targets. Air Liquide has amended a $2 billion credit line to link financing costs to carbon emission, gender diversity, and safety goals. Lanxess has arranged with 12 banks for a $1.1 billion loan whose interest rate depends on greenhouse gas reductions and an increase in the proportion of women in top management. And Lenzing has completed a $550 million loan with an interest rate that fluctuates depending on the Austrian firm’s sustainability rating.