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Taulia Introduces ESG Component to Supply Chain Finance Program With Henkel
October 20, 2022 | Business WireEstimated reading time: 2 minutes
Taulia, a leading working capital management solutions provider, and Henkel, the German adhesives and consumer goods giant, have announced the successful integration of sustainability criteria into the largest segment of Henkel’s supply chain finance program.
The Supply Chain Finance program, which the two companies have been running since 2015, will now provide flexible financing options to Henkel’s suppliers with preferential rates depending on suppliers’ ESG ratings. By improving their ESG rating, suppliers can further reduce financing costs in the supply chain. This program underscores Henkel’s target to achieve 100 million tons of CO2 reductions together with customers, consumers, and suppliers between 2016 and 2025.
The program is supported by Taulia’s tech solution to allow scale. Taulia’s multi-funder model enables businesses to access an ecosystem of financial institutions, which include UniCredit and ING providing them with flexibility and a way to mitigate risk by diversifying funding sources. Furthermore, the integration of ESG ratings will allow many more companies to realize their ESG goals, while maintaining the welfare of their supply chain.
Cedric Bru, CEO, Taulia said: “This project marks an important milestone in establishing transparency around sustainability in supply chains. Together with Henkel, Taulia will deliver a program that makes liquidity available to eligible suppliers in the supply chain and incentivize suppliers to minimize the impact they have on the environment.”
Marco Swoboda, CFO, Henkel, said: “Henkel considers itself a pioneer in the field of sustainability which is an essential part of our strategic agenda for purposeful growth. Sustainability has become a key criterion of successful supply chains nowadays. Turning our Supply Chain Finance program with Taulia sustainable marks another step in this direction.”
Ulrich Borgstädt, Head of Group Treasury, Henkel, said: “Already today, we are using ESG ratings in selecting our suppliers. Our sustainable Supply Chain Finance program incentivizes our suppliers to improve their ESG rating using a multi-dimensional approach on sustainability beyond pure carbon reduction. Our sustainable supplier financing allows them to participate by receiving preferential discount rates.”
Inés Lüdke, Head of Working Capital Sales Germany at UniCredit said: “We support our corporate clients to be successful in the transformation to achieve defined ESG goals and to stay a sustainable enterprise in the future.”
Adriaan Bellaart, Global Lead of Supply Chain Finance at ING Bank said: “At ING, we believe that sustainable business is better business. That is why we are committed to supporting clients to take action in improving their sustainability levels through financing and rewarding their efforts to transition to a more sustainable business.”
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