Cairo – In a significant step reflecting its unwavering commitment to achieving sustainability and enhancing its environmental practices, Beyti—an Almarai subsidiary, announced the signing of a new facility agreement with HSBC Bank to secure a sustainable linked loan agreement amounting to EGP 1.8 Billion. An official signing ceremony took place at HSBC's headquarters in the presence of Mr. Chris Abboud, General Manager of Beyti– an Almarai Subsidiary, and Mr. Todd Wilcox, CEO and Deputy Chairperson of HSBC Bank Egypt.

The loan terms include several ESG-linked KPIs that will undergo independent verification. These KPIs include an 12.3% reduction in both direct and indirect emissions by 2026 (vs 2023), water intensity reduction by 9.1%, and 55% reduction in waste sent to landfill against the same baseline, as per the company 2023-2027 sustainability roadmap which includes ambitious plans to improve the impact of the company's activities on the environment targeting to achieve zero emissions.

This landmark step underscores the shared commitment of Beyti—an Almarai subsidiary  to sustainability, with HSBC supporting Beyti and other Egyptian businesses in their transition to net-zero. It also reinforces Beyti's efforts to enhance its operations' sustainability by reducing its carbon footprint, improving resource efficiency, and adhering to the highest standards of environmental and social governance.

In this context, Mr. Chris Abboud, General Manager of Beyti, stated: "Sustainability is at the heart of our strategy at Beyti, an Almarai subsidiary. We are committed to 'Doing Better Every Day,' guided by our focus on the 3 P’s: People, Planet, and Product. Our goal is to maintain environmental balance by maximizing resource efficiency, striving for zero buried waste, and reducing our carbon footprint. Additionally, we are committed to supporting our entire value chain in achieving sustainability goals. We have successfully localized 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."

Abboud further emphasized: "This facility is a pivotal step in accelerating our efforts to reach our goals. It gives us the financial flexibility needed to invest in more sustainable solutions across our operations, allowing us to reduce our carbon emissions by 30% by the year 2030, vs 2019. We greatly value our relationship with HSBC Egypt, a global leader in supporting the transition to a green economy, providing innovative financial solutions that help companies achieve their environmental objectives efficiently and sustainably."

For his part, Mr. Todd Wilcox, CEO and Deputy Chairman of HSBC Bank Egypt, said: "Sustainable finance is a fundamental pillar in building a more resilient and sustainable economy. We are proud to be a strategic bank for Beyti— an Almarai subsidiary, as it works toward its environmental and social goals. This agreement demonstrates HSBC's commitment to providing innovative financing solutions that enable companies to adopt more sustainable practices and facilitate their transition to a low-carbon economy.”

Beyti—an Almarai subsidiary, strives to accelerate its sustainability strategy through innovative initiatives that minimize its environmental impact and maximize operational efficiency. Beyti's commitment is already evident in its operation of the largest grid-connected solar power plant in Egypt's food and beverage sector (7.6 MW capacity), supplying around 30% of the facility's energy. Furthermore, an EGP 40 million investment in Beheira Governorate's first industrial gas pressure reduction station has transitioned seven nearby facilities from diesel to natural gas, cutting greenhouse gas emissions by 30%.

About Beyti:

Beyti, an Almarai subsidiary, was established in 1998 as a company specializing in food manufacturing. Beyti is a leading company in the Egyptian food sector and is one of the largest producers and exporters of milk, juices, and yogurt in Egypt. Beyti offers its leading products such as Almarai milk, Almarai yogurt, Almarai Treats, Almarai Yogo, Almarai juice, Almarai cream, and Almarai cheese, in addition to Beyti milk and juices.