Navigator Gas CEO Mads Peter Zacho: “We are committed to improving gender diversity across the business in a sector that has traditionally been male dominated.”
By now, we’re used to the concept of inexperienced loans tied to issues like environmental efficiency. Now, liquefied fuel provider specialist Navigator Holdings Ltd. (NYSE: NVGS) has entered right into a financing association that incentivizes gender range. It stories that on March 20, Navigator Gas LLC entered right into a $200 million time period mortgage facility that features a sustainability-linked margin adjustment with two key efficiency indicators (“KPIs”). One KPI is linked to fleet environmental standards, the second is linked to proportion targets for ladies in management roles at Navigator every year, with an preliminary goal of twenty-two% by the top of 2023, rising 12 months by 12 months to a closing goal of 35% of ladies in management roles by 2028.
“We are committed to improving gender diversity across the business in a sector that has traditionally been male dominated,” stated Navigator CEO Mads Peter Zacho. “As far as we are aware, this facility agreement linked to gender diversity is one of the first of its kind in the sector, and we are enthusiastic about achieving our targets supporting wider change in the industry.”
Prior to his appointments as CEO of Navigator in August 2022, Zacho was the pinnacle of business transition on the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping and earlier than that, held a number of senior roles at delivery companies, together with as CEO of J. Lauritzen A/S and CFO for TORM Plc and Svitzer.
The settlement was reached with a gaggle of banks that features, amongst others, Nordea Bank Abp, ABN AMRO Bank N.V., and BNP Paribas S.A.
ABN AMRO Bank N.V. is the sustainability coordinator beneath the ability settlement.
The $200 million mortgage was absolutely drawn down on March 28, 2023, to repay two of the corporate’s financial institution mortgage services that had been on account of mature later in 2023, in addition to offering a further $65.4 million for normal company functions.
