Financing PolicyAn internationally recognized signature allows Accor to raise various forms of financing, including through bond issues, private placements and bank loans.
From time to time, the Group also takes advantage of market opportunities to raise financing in a given currency and at a given rate of interest and then use a swap to convert the facility into the currency and interest rate required to finance business needs.
Generally, the Group’s policy is to finance its assets and operating requirements in the currency of the country concerned in order to create a natural hedge and avoid any currency risk.
By using its subsidiaries’ surplus cash as well as the financial instruments described above, the Group is able to optimize the cost of its resources while reducing currency risks.
Sustainable FinanceAccor began linking funding to its sustainability ambitions in July 2018, with a Sustainability-Linked Credit Facility indexing the margin to the Group’s emblematic Corporate Social Responsibility (CSR) commitments.
In October 2018, the Group took a step further by developing a Green Loan to finance the acquisition of its headquarters in Paris. This transaction was a forerunner as a framework was set and the building was HQE “Excellent”-certified, and Sustainalytics provided a positive Second Party Opinion (SPO).
In 2021, with the development of a Sustainability-Linked Bond Framework, Accor aimed at further align its business and funding strategy with its environmental and social commitments and values. The KPIs determined has been qualified as “very strong” and the Sustainability Performance Targets (SPTs) “highly ambitious” by Sustainalytics as the SPO.
On November the 18th 2021, Accor issued its inaugural Sustainability-Linked Bond (SLB) based on this framework. These bonds are indexed to the Group's greenhouse gas emission reduction targets of 25.2% for Scope 1 and 2 and 15.0% for Scope 3 by 2025 compared to 2019.