Société Générale subsidiary ALD issues its first positive impact bond, choosing Vigeo Eiris to provide Second Party Opinion
Worth €500 million and with a four-year maturity, the Bond will be used to finance or refinance the ALD Group's fleet of electric or hybrid vehicles
The use of this new financing instrument reflects the desire of the ALD Group – which is 80% owned by Société Générale – to increase the number of so-called ‘clean’ vehicles (such as electric, plug-in hybrid and non-plug-in hybrid).
ALD currently has a fleet of 14,348 ‘clean’ vehicles in 13 countries; 24% of which are electric and 76% hybrid.
This operation contributes to improving the carbon and climate assessments of ALD’s vehicle fleet. Each year, savings equivalent to 17,000 tonnes of CO2 and 99,000 kg of NOx emissions are achieved by this new project.
This is the first time that a group in this sector has used this type of financing.
Vigeo Eiris was commissioned to provide an independent opinion on the degree to which environmental impacts and sustainability factors are considered in the framework and management of the bond; on its contribution to sustainable development; and its alignment with the Green Bond Principles and the Principles for Positive Impact Finance of the United Nations Environment Programme Financial Initiative (UNEP-FI). The bond has also received the Climate Bond Standard pre-issue certification.
Vigeo Eiris Second Party Opinion
green bond, SUSTAINABLE FINANCE