Port louis: ER Group has announced the launch of its Sustainable Finance Framework (SFF), a strategic structure designed to anchor its financing around formalized, measurable, and independently verified sustainability commitments. According to African Press Organization, this initiative aligns with international standards set by the International Capital Market Association (ICMA) and the Loan Market Association (LMA), and it has been validated by a Second Party Opinion from Moody's Ratings, a leading credit rating agency. This positions ER Group as one of the most advanced corporate issuers in the region regarding sustainable finance. ER Group, one of Mauritius's leading listed entities and a member of the Stock Exchange of Mauritius Sustainability Index (SEMSI), employs nearly 13,000 people across 17 territories. The adoption of the SFF marks a significant milestone in implementing the Group's Sustainability Strategy 2025-2035, further enhancing their commitment to sustainable practices. Building on the su ccessful issuance of a green bond by EnVolt in 2023, ER Group has implemented a policy that applies across all its activities, with common eligibility criteria for every business, dedicated governance at the Board level, and annual reporting on results. This scope covers more than 90% of the Group's revenues. The SFF is built upon two complementary financing mechanisms: the Use-of-Proceeds and the Sustainability-Linked Bond (SLB). The Use-of-Proceeds earmarks raised funds for financing identified impact projects, including renewable energy, green-certified buildings, clean mobility, sustainable water management, circular economy initiatives, and biodiversity restoration. It also supports projects with a social dimension, such as job creation, SME support, gender equality, women's empowerment, and cultural heritage preservation. Under the SLB mechanism, ER Group has set three measurable group-wide targets to be achieved by 2031. These include increasing female representation in management positions to 40%, a chieving 10% electric vehicle sales across Axess, and certifying 50% of its commercial rental portfolio under internationally recognized green building standards. Governance of the SFF is entrusted to the Sustainability and Inclusiveness Committee, a sub-committee of the Board of Directors. The SFF serves as a reference point for all future bond issuances and structured financing within the Group, aiming to make sustainable finance a structural driver of its growth strategy. It reflects ER Group's ambition to align its capital-raising strategy with measurable sustainability outcomes. ER Group's framework has been validated through a Second Party Opinion from Moody's Ratings, confirming the rigor and ambition of its targets. MCB Capital Markets supported the structuring and drafting of the SFF, ensuring alignment with the Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines of the ICMA, as well as the equivalent LMA principles for loans. Additionally, FSD Africa provided technica l support, emphasizing the framework's role in mobilizing local-currency capital for climate resilience. The SFF builds on the experience gained with EnVolt's green bond in 2023 and paves the way for structured financing for ongoing projects within ER Group's segments, including solar capacity expansion, green-certified real estate developments, electric mobility solutions, and initiatives on water efficiency and ecosystem restoration. With this framework, ER Group stands as one of the few corporate issuers in sub-Saharan Africa to have a sustainable finance structure validated by Moody's and applicable across all its activities, signaling a strong commitment to sustainable practices in Mauritius.
- July 2, 2026