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Volvo Automobiles goes for inexperienced bonds to fund electrification | Automotive Trade Information – Auto Information by Automobilnews.eu

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Volvo Automobiles goes for inexperienced bonds to fund electrification | Automotive Trade Information


Volvo Automobiles says it has established a Inexperienced Finance Framework, permitting the corporate to fund its formidable local weather plan and electrification technique by issuing inexperienced bonds or acquiring inexperienced loans. It echoes the funding route adopted by others, together with Volkswagen Group.

Funds raised underneath this framework are earmarked for climate-related and environmental initiatives. The Inexperienced Finance Framework specifies how these initiatives are recognized, chosen and managed, offering transparency for buyers.

The corporate’s framework paves the way in which for Volvo Automobiles to situation its first inexperienced bond. The proceeds of such a bond will likely be used to fund new electrical automobile fashions, new automobile platforms and powertrain expertise, in addition to elevated manufacturing capability for batteries and electrical automobiles.

Volvo’s Inexperienced Finance Framework has been reviewed by Cicero, a number one supplier of unbiased, research-based evaluations of inexperienced bond funding frameworks, and acquired its highest doable score, Darkish Inexperienced.

“Volvo Automobiles has one of the crucial formidable local weather plans within the auto business,” mentioned Håkan Samuelsson, chief govt. “Our Inexperienced Finance Framework permits buyers to take part within the transformation of Volvo Automobiles into an electrical automobile maker.”

Final 12 months, Volvo Automobiles launched a complete local weather plan which addresses carbon emissions throughout all its operations and merchandise, because it strives to turn into climate-neutral by 2040.

The plan goes past addressing tailpipe emissions by electrification; the corporate will even deal with carbon emissions in its manufacturing community and wider operations, its provide chain and thru recycling and reuse of supplies.

As a primary, tangible step in direction of its 2040 imaginative and prescient the corporate goals to cut back its lifecycle carbon footprint per automobile by 40 per cent between 2018 and 2025.

This features a 50 per cent discount in tailpipe emissions per automobile, a 25 % discount per automobile in operational carbon emissions, together with from manufacturing and logistics, and a 25 per cent discount per automobile in provide chain carbon emissions.

“We now have formidable funding plans in coming years to show our local weather targets into actuality,” mentioned Carla de Geyseleer, chief monetary officer. “I’m completely satisfied we are able to now provide a chance to the monetary neighborhood to make sustainability-focused investments in Volvo Automobiles, because the monetary business performs a pivotal position in stimulating and supporting sustainable growth.”

Volvo Automobiles was the primary established automobile maker to decide to all-out electrification and is the one model to supply a plug-in hybrid variant on each mannequin in its line-up. It’s going to additionally introduce a variety of absolutely electrical fashions in coming years, beginning with the XC40 Recharge, deliveries of which can begin later this 12 months.

Gross sales of its plug-in hybrid automobiles amounted to nearly 1 / 4 of gross sales in Europe throughout the first half of 2020. 

See additionally: Volkswagen points inexperienced bonds to finance MEB, EVs



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Volvo Automobiles goes for inexperienced bonds to fund electrification | Automotive Trade Information – Auto Information by Automobilnews.eu
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