BAKU, Azerbaijan, December 6. The European Bank for Reconstruction and Development (EBRD) is advancing capital market development in Croatia with a 10 million euro investment in a 60 million euro sustainability-linked bond (SLB) issued by Jadran Galenski Laboratorij d.d. (JGL), Trend reports.
This marks Croatia's third SLB and the first issued by its pharmaceutical sector.
The SLB aligns with JGL’s efforts to integrate sustainability into its operations. Additionally, JGL will begin measuring and reporting Scope 3 emissions and set targets under the Science Based Targets initiative (SBTi). Though not part of the bond framework, these initiatives reflect JGL’s commitment to enhancing its environmental, social, and governance (ESG) impact.
Frederic Lucenet, EBRD's Global Head of Manufacturing and Services, highlighted JGL’s leadership in sustainability, stating, "JGL’s commitment to reducing emissions in line with SBTi is a model for our life sciences portfolio."
Mislav Vučić, CEO of JGL, emphasized the company’s dedication to sustainability and market credibility, expressing gratitude for the EBRD’s partnership.
The EBRD remains a significant institutional investor in Croatia, with more than 4.8 billion euros in the country to date, with a focus on supporting private-sector competitiveness, enhancing capital markets, and fostering a better business environment.