EuroWagon Group confirmed as being sustainable.
In July 2023, EuroWagon Group adopted its Sustainability Strategy focused on increasing its intermodal wagon leasing business in the European market with the aim to contribute to the expansion of freight rail transport in the EU. This is yet another step in contributing to the Group's mission of being a new and green alternative for customers within the sustainable European wagon leasing market.
EuroWagon Group is in line with the EU Zero-Emission strategy through further investments in intermodal wagons.
EuroWagon Group recognises that sustainability should be the main driving force of any investment strategy. Therefore, the Group's growth is based upon four focus areas, namely (i) carrying out projects for clean transportation, (ii) contributing to the reduction in CO2 emission, (iii) continuously analysing opportunities and risks for the climate resulting from the Group's business, and (iv) limiting the negative impact that the Group's business may have on the environment.
On that note, the Group has decided to withdraw from investments in open wagons, which are intensively used in coal transport, and since early 2020, it has been investing in intermodal wagons, steadily reducing the number of open-box wagons in the Group's portfolio, which largely contributes to shifting cargo from road to rail.
Sustainability Strategy in brief.
The Group identifies the following two goals as part of its Sustainability Strategy.
- Investments in assets supporting the European Green Deal and the Paris Agreement.
Offering rail cars on the market that help reduce CO2 emissions by 90% in the transport industry by 2050. - Contribution to achieving the UN's Sustainable Development Goals.
Our goal is to align with sustainable goals advocated by the United Nations in those areas where Eurowagon can have the greatest impact. Based on our assessment, we can exert influence on goal 9 (Build resilient infrastructure, promote sustainable industrialisation and foster innovation) and goal 13 (Take urgent action to combat climate change and its impacts by regulating emissions and promoting developments in renewable energy).
Sustainalytics evaluates the EuroWagon Green Loan Framework as credible and impactful for a clean environment.
EuroWagon Intermodal, the rising company in the EuroWagon Group, has recently adopted its Green Loan Framework intending to obtain green loans, i.e. the financing from which the proceeds are to be used to acquire assets that will contribute to the reduction of CO2 emissions by supporting the transition to low-carbon rail freight in Europe. In July 2023, Sustainalytics, a world-leading ESG research, ratings and data firm, issued a Second-Party Opinion on the Eurowagon Green Loan Framework, finding that it aligns with the four core components of the Green Loan Principles 2023 administered by the Loan Market Association, the Asia Pacific Loan Market Association and Loan Syndication & Trading Association.
KfW IPEX-Bank finances up to 800 state-of-the-art intermodal wagons for EuroWagon Group.
In 2023, KfW IPEX-Bank begins supporting EuroWagon Group's commitment to the development of environmentally friendly and sustainable freight transport by providing financing structured as a Green Loan by KfW IPEX-Bank, sufficient to purchase approximately 800 new intermodal wagons.
KfW IPEX-Bank stands for transformation as it finances technologies of the future to support the transition towards a sustainable society in all three dimensions of the economy, environment and social aspects. By implementing ambitious sector guidelines for CO2-intensive sectors, KfW IPEX-Bank ensures its financings are compatible with the goals of the Paris Agreement.
