Ermewa Group is one of the leading providers of freight rolling stock leasing across Europe and globally. The proceeds from this financing will be allocated to its portfolio of over 20,000 railcars which do not carry any fossil fuels or petrochemical products. The eligible rolling stock carry cereals, industrial goods and other products.
As global freight transport relies heavily on fossil fuel propulsion whether by air, land or sea, rail appears to be the alternative to decarbonize the freight transport sector. The European commission made clear in “Roadmap to a Single European Transport Area (2011)” that the EU’s transport system is not sustainable, and that change is essential if the GHG reduction targets the roadmap outlined for 2030 and 2050 are to be met. For freight, 30% of road freight over 300km should shift to other modes such as rail by 2030, and more than 50% by 2050. In this context, Ermewa, as one of the leaders of rail freight transport, has the responsibility to push forward for cleaner investment strategy on the assets.
|December 2019||Loan||EUR 528m (USD 581m equivalent)||up to 10 years||France||Low Carbon Transport||pre issuance verification|