Project Description

Participation in the amount of EUR 20 million in the 7-year tranche of NORMA Group SE’s ESG-linked Schuldschein issuance.

Project Objectives

The Project will support direct green investments in Serbia, Poland and the Czech Republic.   

 

Transition Impact

ETI score: 60

The expected transition impact of the project stems from the Green quality. The Project supports green investments in the Bank’s COOs and the production of components for water management systems and e-mobility. 

Client Information

NORMA GROUP SE

NORMA Group SE is a Germany-based international company in joining and fluid handling technologies segment, listed on the Frankfurt Stock Exchange. 

EBRD Finance Summary

EUR 20,000,000.00

EUR 20,000,000.00

Total Project Cost

EUR 120,000,000.00

EUR 120,000,000.00

Additionality

The Bank’s additionality stems from the financing structure and participation in the innovative financial instrument.

Environmental and Social Summary

Category B (2019 ESP). Due diligence on this transaction comprised a review of publicly available documentation in Annual Reports and Sustainability Reports, coupled with detailed discussions with client management on the corporate policies and procedures and how these are implemented and monitored at the site level. This review shows that the client has the capacity and capability to implement the Project to the standards required by the Bank and that the investment plans are aligned with the Performance Requirements. Contractor management and supply chain risk are well understood at the corporate level and performance at the site level is reported to corporate management on these, and other issues. The client has robust systems and procedures to address the range of EHSS issues related to their operations. The client will be committed to the Performance Requirements through agreements with the Bank.

Technical Cooperation and Grant Financing

N/A

Company Contact Information

Andreas Mueller, VP Group Treasury & Insurance
Andreas.Mueller@normagroup.com
+49 6181 403 621
+49 6181 403 621
www.normagroup.com
Edisonstr. 4, 63477, Maintal, Germany

PSD last updated

15 Sep 2023

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD’s Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank’s countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.