V.E has provided a Second Party Opinion (SPO) on Europcar Mobility Group’s Sustainability-Linked Financing Framework. The framework has been designed to govern the issuance of Sustainability-Linked Financing Instruments that are linked with two environmental factors:
- KPI 1: Average carbon emissions (g CO2/km) for the Group’s fleet
- Reduce average carbon emissions for the Group’s fleet, to reach respectively 93g CO2/km for cars and 144g CO2/km for vans by 2024
- KPI 2: Green Vehicles as percentage of the total Group’s fleet – in alignment with EU Taxonomy for sustainable activities
- Increase the percentage of green vehicles (vehicles emitting less than 50g CO2/km) to reach 20% of Europcar Mobility Group’s fleet by end of 2024
V.E assigned a Second Party Opinion (SPO) on the sustainability credentials and management of Europcar Mobility Group. V.E is of the opinion that this Framework is aligned with the five core components of the Sustainability-Linked Bond Principles (SLBP) 2020 and Sustainability-Linked Loan Principles (SLLP) 2021, and follows best practices identified by V.E for the pillars “Calibration of the SPTs” and “Reporting”. Both Key Performance Indicators in Europcar Mobility Group’s Sustainability-Linked Financing Framework are considered to have advanced relevance, and the Sustainability Performance Targets (SPTs) are considered to demonstrate an advanced level of ambition.
Europcar Mobility Group SA is a holding company, which engages in the provision of car rental solutions to individual and corporate clients. The Company was founded on March 16th, 2006 and is headquartered in Guyancourt, France. During 2019, Europcar Mobility Group has acquired Fox Rent A Car, the Finnish and Norwegian franchisees.
V.E has produced more than 380 second-party opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We are a Climate Bonds Standard Approved Verifier.
Click here to view V.E’s SPO on Europcar Mobility Group’s Sustainability-Linked Financing Framework.
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