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    Signature(s)

    Amount
    € 300,000,000
    Countries
    Sector(s)
    France : € 24,000,000
    Germany : € 68,010,000
    Sweden : € 207,990,000
    Industry : € 300,000,000
    Signature date(s)
    9/12/2021 : € 24,000,000
    9/12/2021 : € 68,010,000
    9/12/2021 : € 207,990,000
    Link to source

    Summary sheet

    Release date
    13 December 2021
    Status
    Reference
    Signed | 09/12/2021
    20210374
    Project name
    Promoter - financial intermediary
    ESSITY HEALTH AND HYGIENE PRODUCTS RDI
    ESSITY AB (PUBL)
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 300 million
    EUR 811 million
    Location
    Sector(s)
    Description
    Objectives

    The project comprises a selection of the Promoter's planned expenditures in research, development and innovation (RDI) focusing on personal care and consumer tissue products. The project will be carried out primarily at the Promoter's research and development (R&D) centres in Sweden, Germany and France in the period 2021-2024.

    The project supports investments focused in three main areas: i) supporting the development and innovation of new products and services, notably in the hygiene and tissue product segments, targeting consumer well-being; ii) developing environmentally friendlier and more energy-efficient solutions and processes; and iii) improving efficiency and reducing cost of various manufacturing processes.

    Additionality and Impact

    The project supports research, development and innovation (RDI) activities in the EU that target consumers' well-being and generate significant positive knowledge and environmental externalities through the creation of innovative processes, products or services, and skills development and upgrading of the hygiene and health sector. The financing of this project addresses the market failure that triggers suboptimal investment in the RDI of the health and hygiene industry. It also addresses information asymmetries linked to the inherent uncertainty of RDI activities. The project is expected to have important positive knowledge spillovers through R&D cooperation with academia and industry partners. Positive environmental spillovers are through the development and manufacturing of products using less natural resources, substituting the use of plastics, and reducing GHG emissions. The project furthers the advancement of the EU industry's technological leadership. In addition, the project contributes to the EU Green Deal and is aligned with the Bank's climate action and environmental sustainability objectives, the EU Bioeconomy Strategy and the EU Circular Economy Package. EIB's contribution to the project stems from the combination of a financial advantage, flexible terms of the loan, and helping to crowd-in other financiers, thereby facilitating its full financing and implementation.

    Environmental aspects
    Procurement

    The RDI activities are expected to be carried out in existing, already permitted, facilities that are already used for the same purposes and that are not expected to change their scope due to the project. It is unlikely that the project or any subcomponent of it will require an environmental impact assessment (EIA) as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The Bank's services will review the environmental aspects of the project during the due diligence process.

    Although the Promoter is a private company not operating in the utilities sector, and is thus not covered by EU directives on procurement, the Bank will require the Promoter to ensure that any procurement procedures are done in accordance with the relevant applicable EU procurement rules.

    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - ESSITY HEALTH AND HYGIENE PRODUCTS RDI
    Publication Date
    23 Dec 2021
    Document language
    Main Topic
    Lending
    Document Number
    144888275
    Document Focus
    Environmental Information
    Project Number
    20210374
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

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