TITAN Group announces the creation of a Sustainability-Linked Financing Framework, aligning its financial strategy with its ambitious targets for the reduction of greenhouse gas emissions validated by the Science Based Targets (SBTi) initiative. This Framework marks a critical step towards accelerating Titan's sustainable development, in line with its 2026 strategy.

By aligning its financial strategy with the Sustainable Development Goals (ESG), TITAN underscores its long-standing commitment to adhering to responsible business practices and creating long-term value for its co-shareholders. The Framework creates the conditions for the future issuance of Sustainability-linked Notes and more specifically with the Group's sustainability objectives. The proceeds from future issuances of these notes will fund general corporate purposes, including sustainable development projects and initiatives to reduce Titan's carbon footprint, with the aim of moving towards zero CO2 emissions.

Sustainalytics, a leading, independent ESG research, assessment and data analysis firm, has issued a Second-Party Opinion report on the Framework. According to this, the Framework meets the five key elements of the 2023 Sustainability Clause Linked Bond Principles. The Key Performance Indicator (KPI) selected, Scope 1 gross greenhouse gas emissions (measured in kgCO2 emissions per tonne of cementitious product), is considered "very strong". In addition, the TITAN Group's Sustainable Performance Targets (SPTs) are considered "very ambitious" and are in line with the Paris Agreement and the SBTi Initiative's target of limiting temperature increase to 1.5°C.

Leonidas Kanellopoulos, Director of Sustainability and Innovation at TITAN Group, said: "Transforming the building materials sector towards a more sustainable future with a carbon neutral footprint requires significant investment, with sustainable finance playing a key role in this transformation. With this Framework, the Group will attract a broader investor base, including those focused on sustainable investments and ESG portfolios. Our financial and sustainable development strategies are now aligned, further enhancing the confidence of our co-shareholders."