As part of its corporate social responsibility (CSR) strategy, Wavestone, in agreement with its banking partners, has decided to link its financing to its ESG (Environmental, Social and Governance) performance.
An amendment to the March 2020 loan agreement was signed on May 19, 2021, to include environmental, social and societal criteria.
Wavestone's banking partners in this operation are BNP Paribas, Société Générale, LCL, and Bred and Banque Postale. Wavestone has appointed the extra-financial analysis agency EthiFinance, to annually certify the value of the extra-financial indicators adopted.
Four areas of progress for Wavestone in terms of CSR have been identified, and annual objectives have been set for each of them.
- To deploy Wavestone's responsible consulting approach on an increasing number of assignments
- To increase the representation of women in management positions
- To be an increasingly welcoming company with a growing population of employees with disabilities
- To reduce the firm's environmental footprint using an avoid-reduce-compensate approach
Wavestone will receive a margin bonus applicable to all of its credit lines, depending on whether or not the objectives are met. In the case that this bonus actually materializes, Wavestone commits to pay the entire amount saved to the Wavestone Foundation. The Wavestone Foundation supports associations working for disadvantaged children around the world.
“This bank loan commits Wavestone to progress on key CSR issues, not only in its social and environmental practices, but also in its core consulting business. We are pleased to once again bring our Sustainable Financing expertise to impact banking loans” said Emmanuel de La Ville, Managing Director of EthiFinance.
“We are happy to have set up this impact banking loan and we thank our banking partners for joining us in this initiative. The indicators defined are in line with our CSR challenges. They focus on key areas in which we want to progress in the coming years.” said Hélène Cambournac, CSR manager at Wavestone.
In a world where knowing how to drive transformation is the key to success, Wavestone's mission is to inform and guide large companies and organizations in their most critical transformations, with the ambition of a positive outcome for all stakeholders. That's what we call "The Positive Way.”
Wavestone draws on some 3,000 employees across 8 countries. It is a leading independent player in the European consulting market. Wavestone is listed on Euronext Paris.
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