euNetworks adds green targets to €1.26 billion loan

euNetworks has added two environmental performance targets to its €1.26 billion Sustainability-Linked Loan, covering major network projects and its infrastructure benchmark score.

The first introduces Network Development 'Impact by Design' Plans for major network development projects that require significant new construction. The second focuses on continuous improvement in euNetworks' GRESB infrastructure benchmark score, while the existing gender diversity target remains in place.

The new framework is intended to tie sustainability more closely to the way euNetworks designs and delivers network infrastructure. The project-related target will apply to schemes that account for a large share of annual capital spending and about two-thirds of its current greenhouse gas emissions.

Under the plans, euNetworks will work with customers and construction partners at the design stage of major projects to assess lower-carbon materials, construction methods and supplier options before specifications are finalised. The aim is to bring environmental considerations into commercial and engineering decisions alongside cost, delivery times and customer requirements.

The GRESB target is intended to improve performance against an infrastructure-focused environmental, social and governance benchmark used across the sector. It is also designed to align governance, environmental management and operational performance with an external standard that reflects euNetworks' infrastructure-led business model.

The updated loan structure builds on existing sustainability commitments, including validated Science Based Targets, a net zero target for 2040, a supplier engagement programme and investment in carbon measurement tools. The additions focus on areas where euNetworks has the greatest direct influence.

euNetworks first established the Sustainability-Linked Loan at €760 million to support the expansion of its fibre network infrastructure in Europe. The financing was later refinanced and increased to €1.26 billion with backing from a syndicate of infrastructure-focused lenders.

Under the revised structure, the loan is now linked to three targets: gender diversity, GRESB score improvement and Network Development Impact by Design Plans. This ties sustainability measures to funding terms as the company continues to expand its network footprint.

Project emissions

The focus on construction-stage decisions reflects the emissions profile of euNetworks' development activity. Major network builds currently account for roughly two-thirds of the company's greenhouse gas emissions, making them a central focus in efforts to cut the carbon impact of expansion.

The approach also points to a wider issue in telecoms and digital infrastructure, where the environmental burden of growth often lies not only in operations but also in the materials and construction needed to build new assets. By targeting early-stage project design, euNetworks is seeking to shape choices before they are locked into contracts and engineering plans.

The company operates 18 metropolitan networks connected by an intercity backbone spanning 53 cities in 17 countries. It also directly connects more than 600 data centres and serves customers that rely on fibre, wavelength, ethernet and internet services.

Its position in the data centre and cloud connectivity market means network expansion is closely linked to broader demand for digital infrastructure in Europe. That places greater attention on how operators finance growth while responding to investor and customer scrutiny over emissions and environmental reporting.

Marisa Trisolino, Chief Executive Officer, euNetworks, outlined the company's view of the changes to the loan framework.

"Our new SLL targets mark an important step in euNetworks' commitment to growing our business sustainably, focusing our efforts on the areas where we can deliver the greatest impact. The introduction of our NetDev Impact by Design Plans represents a significant evolution in how we approach major network development projects, embedding sustainability considerations from the very beginning of the design and planning process. This is complemented by our GRESB score improvement target, which provides a rigorous measure of ESG performance for organisations delivering infrastructure-led growth. Together, these targets will help us drive meaningful emissions reductions across euNetworks, for our customers and for our wider supply chain," said Trisolino.