Alstom signs agreement with Canada’s export credit agency

Export Development CanadaAlstom and Export Development Canada (EDC), country’s export credit agency, 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 CAD 3.5 billion (EUR 2.3 billion).

“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,” Michael Keroullé, President Alstom Americas said.

The partnership builds on shared commitments to work towards decarbonising economies and achieving the COP21 net-zero objective by 2050, in a context where public transport solutions such as Alstom’s are essential to reducing global greenhouse gas emissions in Canada and internationally.

“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 urbanisation while preserving the environment and connecting nations in developed and underdeveloped areas around the world,” Sven List, Senior Vice-President, Corporate and International Group at EDC said.

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 (ESG)-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 and 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.

In addition to such Canadian projects as future LRVs for Toronto and Quebec City and new trains for Vancouver’s SkyTrain, the company also is an important Canadian exporter. Through Alstom’s facilities in Canada, the company has supplied and provided goods and services to international projects such as bi-level commuter trains for New Jersey and two transit authorities on the west coast of the United States, as well as light rail vehicles for Kuala Lumpur, Malaysia. Furthermore, the company is spearheading innovation in Canada with the development of North American platforms for green hybrid, battery and hydrogen propulsion technologies at its innovation centre for green rail mobility solutions announced in July 2022.

Last year, Alstom has signed several agreements with export agencies, part of its strategic vision to develop green mobility and economy. In March 2022, the company signed a EUR 1 billion partnership with Polish export credit agency KUKE to facilitate contract executions and securing buyers’ funding for international market tenders. One month later, another agreement has been, this time with the Italian Export Credit Agency (SACE) to increase Alstom’s ties with the Italian supply chain. With Spanish Export Credit Agency (Cesce), Alstom signed an agreement to promote rail industry exports in green projects.

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