Natixis, Enel, in Green FX Deal

Natixis Corporate & Investment Banking and Enel have reached an agreement to link foreign exchange derivatives transactions between the parties to Enel’s medium-to-long term sustainability targets in accordance with Enel’s existing Sustainability-Linked Financing Framework.

This is the second high profile deal inked by Enel, which in March signed a similar agreement with NatWest Markets.

Under the framework with Natixis, FX options, forwards and swaps executed between the bank and Enel accumulate a sustainability incentive that Natixis CIB will transfer to Enel upon its achievement of its December 2022 renewable consolidated installed capacity objective, to be verified by an independent third party.

“We are proud to support Enel in reaffirming its core strategic principles and pursuing its ecological transition by providing an innovative financial solution to align its forex derivatives transactions with its sustainable principles,” says Julien Duquenne, co-head of green & sustainable finance, origination & advisory, EMEA, Natixis Corporate & Investment Banking.

Cristiano Marinoni, senior solution sales, Italy, and Laurent Guillaume, expert leader FX financial engineering at Natixis Corporate & Investment Banking, add in a statement, “Through this agreement with Enel, Natixis further cements its positioning as a go-to financial partner for its clients’ energy transition strategies, extending it for the first time to foreign exchange market activities.”