Elekta establishes a framework for sustainability-linked bonds
STOCKHOLM, October 29, 2021 – Elekta (EKTA-B.ST) announced today that it has established a Sustainability-Linked Bond Framework (SLB Framework) for issues of sustainability-linked bonds under its Medium Term Note Program (MTN-Program). Elekta is among the first companies in Sweden to establish this type of investment framework for bonds. This strengthens Elekta’s sustainability focus by increasing global access to cancer care measured by the number of linear accelerators (linacs) in underserved markets.
“Elekta is committed to increase access to radiotherapy in underserved markets and through the SLB Framework we link our funding with the target that supports our most material sustainability ambitions and that is fully aligned with our vision – a world where everyone has access to the best cancer care. To increase availability of cancer care is one dimension in reaching Elekta’s vision, the other two dimensions are elevation of care and participation in care,” says Maria Belfrage, Elekta’s VP Group Strategy and Sustainability.
Elekta has a unique opportunity to provide hope for everyone dealing with cancer in all corners of the world. Today, low- and middle-income countries bear a larger burden of cancer mortality than high-income countries.1 By selecting increased access to radiotherapy in these underserved markets as Key Performance Indicator (KPI), Elekta is positively contributing to sustainable development. Elekta commits to increase the installed net base of linacs in underserved markets with 825 units by April 30, 2025. This sustainability performance creates additional capacity for radiotherapy treatments, which implies that more than 300 million additional people can get access to cancer care via Elekta’s installed base. Together with the product development and knowledge sharing brought by Elekta, this contributes to closing the gap in underserved markets and saving lives, a significant progress towards achieving reduced mortality from non-communicable diseases (target 3.4 of the Sustainable Development Goals in UN’s Agenda 2030).
“The rationale and process for Elekta’s KPI selection, as well as its definition, measurability, and verifiability, are deemed to be robust, reliable and in accordance with the International Capital Market Association’s Sustainability-Linked Bond Principles. The selected KPI is addressing a relevant challenge of the medical sector,” says Lin Hammer, Head of Assessment Norway, DNV (second party opinion provider).
Elekta will issue bonds based on the SLB Framework and has updated its MTN-Program base prospectus, originally published in 2015. The prospectus has been approved by the Swedish Financial Supervisory Authority, Finansinspektionen. Danske Bank acted as advisor for the Sustainability-Linked Bond Framework.
1Torre LA, Siegel RL, Ward EM, Jemal A. Global cancer incidence and mortality rates and trends—an update. Cancer Epidemiol Biomarkers Prev. 2016;25(1):16-27.
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As a leader in precision radiation therapy, Elekta is committed to ensuring every patient has access to the best cancer care possible. We openly collaborate with customers to advance sustainable, outcome-driven and cost-efficient solutions to meet evolving patient needs, improve lives and bring hope to everyone dealing with cancer. To us, it's personal, and our global team of 4,700 employees combine passion, science, and imagination to profoundly change cancer care. We don’t just build technology, we build hope. Elekta is headquartered in Stockholm, Sweden, with offices in more than 120 countries and listed on Nasdaq Stockholm. For more information, visit elekta.com or follow @Elekta on Twitter.