Alstom, Export Development Canada sign agreement to promote global clean mobility investments
Alstom and Export Development Canada (EDC) have signed a Sustainable Global Corporate Partnership agreement to promote investments in clean mobility worldwide. The three-year agreement contemplates future export financing support and insurance for mobility projects led by Alstom’s customers within a maximum total limit of C$3.5 billion (US$2.6 billion).
The partnership builds on shared commitments to work towards decarbonizing economies and achieving the COP21 net-zero objective by 2050.
"We are very proud to establish this partnership with EDC, especially since it recognizes the very positive role played by the company, its employees and its operations for the Canadian economy and the essential contribution made by its green products to the reduction of GHGs in the Americas and globally. We thank EDC for its support to grow Alstom’s leadership in sustainable mobility,” said Michael Keroullé, president, Alstom.
Under the partnership, EDC will focus its financing support to digital rail systems, services and projects based on low-emission freight and passenger mobility technologies such as electrified, hybrid, battery, or hydrogen propulsion. Moreover, the partnership aims at the highest standards in terms of environmental, social, and governance-focused financing, as Alstom will regularly report to EDC on its sustainability path globally and in Canada using indicators such as CO2 emissions (scope 1 & 2), electricity supply from renewable sources for its operations or gender balance in management roles. In addition, Alstom and EDC will explore further opportunities to foster additional green investments by Alstom in Canada.
“At a time when our customers worldwide are increasing their investments in sustainable mobility, this strategic partnership is a landmark in Alstom’s strategy to offer them long-term financing instruments while securing and accelerating cash-in streams for Alstom. This unique partnership will enable Alstom to bring them best-in-class and competitive financing solutions to develop their projects. We are particularly proud of the comprehensive and holistic nature of this win-win agreement, in particular its sustainable finance features,” said Laurent Martinez, Alstom’s chief financial officer.
“The demand for greener, more sustainable global mobility is rising and Alstom is delivering. Their innovative approach to rail is helping lead societies to a lower carbon future while ensuring cities around the world can respond to their growing transportation needs. Through our partnership, EDC’s financing and insurance solutions will enable Alstom to expand their Canadian and global footprint meeting rapidly evolving demographics and increase in urbanization while preserving the environment and connecting nations in developed and underdeveloped areas around the world,” said Sven List, Senior Vice President, Corporate and International Group at EDC.
