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Sopra Steria's Continued Commitment to Sustainability

In a significant stride towards environmental stewardship, French tech giant Sopra Steria has announced its backing for two startups dedicated to combating climate change through innovative green technologies. This support is funneled through the company's Sustainability-Linked Loan framework, a financial instrument designed to tie loan terms to specific environmental performance goals.

The Green Tech Startups

Sopra Steria's recent investments center on two promising ventures: PRONOE and Sand To Green. PRONOE focuses on tackling ocean acidification, a major issue linked to climate change that threatens marine ecosystems worldwide. The startup employs techniques to alkaline ocean waters effectively, aiming to mitigate the detrimental effects of CO2 emissions.

On the other hand, Sand To Green addresses land degradation through regenerative agriculture practices. It aims to restore arid and degraded lands, a growing concern as these areas expand due to climate factors. By rejuvenating soil health and productivity, the initiative promises to not only enhance local biodiversity but also improve food security in vulnerable regions.

Financial Mechanism for Impact

Back in April 2022, Sopra Steria implemented a €1.1 billion credit line tied to its ambitious goal of reducing greenhouse gas emissions by 85% per employee by 2040. This target aligns with the Paris Agreement and has garnered validation from the Science Based Targets Initiative (SBTI). The contract includes performance-based incentives that can either reward or penalize the company based on its environmental performance in the upcoming years.

By leveraging this credit facility, Sopra Steria has already established a dedicated fund exceeding €200,000, specifically earmarked for financing cutting-edge technological projects designed to counteract climate change.

A Holistic Approach

Axelle Lemaire, Executive Director of Sustainable Performance and Corporate Social Responsibility at Sopra Steria, emphasizes that the company's commitment extends beyond merely reducing its carbon footprint. 'It is not sufficient to cut our own emissions; we must also contribute to the reduction trajectories of our clients. Addressing the urgency of climate change will require innovative partnerships between economic performance and social impact,’ she asserts.

Lemaire's vision showcases Sopra Steria's ideological commitment to sustainability, recognizing that the solutions to climate-related challenges lie within a cohesive strategy that combines innovation, economic viability, and social responsibility.

Rigorous Selection Process

The selected startups underwent a thorough evaluation by Sopra Steria's internal committee of specialists and received validations from financial institutions such as Crédit Agricole CIB and Crédit Lyonnais, which acted as “Sustainability Coordinators” and “Sustainability Agents.” The meticulous selection process highlights the seriousness and level of scrutiny involved in Sopra Steria's commitment to genuine and impactful environmental initiatives.

The financing of PRONOE and Sand To Green underlines Sopra Steria's role not just as a technology provider but as an active participant in the global fight against climate change, fostering innovative solutions that pave the way for a sustainable future. As these startups thrive under Sopra Steria's support, they symbolize the broader corporate responsibility towards environmental health, a necessity for future generations.

For more information on Sopra Steria's sustainability initiatives, please contact Aurélien Flaugnatti.