Beyti to expand with US$36M facility to boost sustainability initiatives

EGYPT – Beyti, an Egyptian subsidiary of Almarai, has announced the signing of a new facility agreement with HSBC Bank to secure a sustainable linked loan of EGP 1.8 billion (US$36 million).

The loan terms encompass several ESG-linked KPIs, all of which will be subject to independent verification.

These KPIs outline a 12.3% reduction in both direct and indirect emissions by 2026 (compared to 2023), a 9.1% decrease in water intensity, and a 55% reduction in waste sent to landfill, measured against the same baseline.

These targets align with the company’s 2023-2027 sustainability roadmap, which includes ambitious strategies aimed at enhancing the environmental impact of its activities, with the ultimate goal of achieving zero emissions.

The new facility underscores the shared commitment of Beyti to sustainability, with HSBC supporting Beyti and other Egyptian businesses in their transition to net-zero. 

According to the company, the facility is a pivotal step in accelerating its efforts to reach its goals. It gives the financial flexibility needed to invest in more sustainable solutions across all operations, reducing carbon emissions by 30% by the year 2030.

Mr. Chris Abboud, General Manager of Beyti, emphasized that sustainability is central to the company’s strategy as an Almarai subsidiary. He highlighted Beyti’s commitment to continuous improvement, driven by its focus on People, Planet, and Product.

According to him, the company aims to maintain environmental balance by optimising resource efficiency, working towards eliminating buried waste, and minimising its carbon footprint. Additionally, he stressed Beyti’s dedication to supporting its entire value chain in meeting sustainability objectives.

“We have successfully localised 67% of our raw and packaging materials, and since 2022, we have diverted 290 tons of plastic waste annually, demonstrating our dedication to recycling solutions and waste reduction. These initiatives are key to our mission of achieving sustainability across every aspect of our business,” he noted.

Mr. Todd Wilcox, CEO and Deputy Chairman of HSBC Bank Egypt, emphasised that sustainable finance plays a crucial role in fostering a more resilient and environmentally conscious economy.

He expressed pride in HSBC’s partnership with Beyti, as the company advances its environmental and social objectives.

According to him, the agreement reflects HSBC’s dedication to delivering innovative financing solutions, helping businesses embrace more sustainable practices and supporting their shift towards a low-carbon economy.

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