Back to the Learning Academy.

Exercising ESG v.6

December 6, 2023
TMX Group
ESG, Governance, Disclosure

Exercising ESG - Steps in the Right Direction
Aya Gold & Silver
TSX:AYA

Aya Gold and Silver announced in 2023 that they secured a loan through Climate Technology Funds to support construction of their Zgounder Silver Mine expansion project. The loan terms allow for a reduction in the interest rate should Aya achieve three milestones -

Milestone 1: Task Force on Climate-related Financial Disclosures ("TCFD") report disclosed by end of 2023 will result in a 25% rate reduction;

Milestone 2: Completion of certain capital expenditure set out in the TCFD report and in the development plan by end of 2024 will result in a 50% rate reduction;

Milestone 3: Reaching "advanced" maturity on the TCFD's Climate Governance and Strategy recommendation will result in reduction of interest to an all-in rate of 1.00%.

Read Aya's press release outlining more details about the ESG-linked loan.

Related Articles

October 10, 2025
The Institute for Sustainable Finance

Canadian Corporate Performance on GHG Emissions, Disclosures and Target Setting: Fourth Edition

The Institute for Sustainable Finance has once again taken the pulse of climate commitments among S&P/TSX Composite Index companies, analyzing trends revealed by their GHG disclosures and net-zero targets. This year's study is a critical resource for investors and public-and private-sector leaders alike.

November 3, 2025
Finance Montréal

Best Sustainability Report Contest 2025-2026

For nearly ten years, Finance Montréal, in partnership with several Québec universities, has been highlighting Canadian publicly traded companies that stand out for the quality of their sustainability reports. The initiative aims to recognize the efforts made to transparently disclose their environmental, social, and governance practices and impacts.

TMX Group Limited and its affiliates do not endorse or recommend any securities issued by any companies identified on, or linked through, this site. Please seek professional advice to evaluate specific securities or other content on this site. All content (including any links to third party sites) is provided for informational purposes only (and not for trading purposes), and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The views, opinions and advice of any third party reflect those of the individual authors and are not endorsed by TMX Group Limited or its affiliates. TMX Group Limited and its affiliates have not prepared, reviewed or updated the content of third parties on this site or the content of any third party sites, and assume no responsibility for such information.

Copyright © 2025 TSX Inc. All rights reserved.