PostNord reaches loan agreement with Nordic Investment Bank to renew its fleet

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PostNord, the Nordic region’s leading provider of postal and logistics services, has set an ambitious goal of becoming fossil-free by 2030. To maintain a brisk pace in its transition towards sustainability, the company has recently entered into a loan agreement with the Nordic Investment Bank (NIB) for the sum of SEK 1.2 billion. The loan, which will be disbursed over the next ten years, will be used to renew PostNord’s vehicle fleet, specifically to purchase new vehicles that run on electricity and biofuels, electric bicycles, and charging infrastructure. This investment is expected to result in a reduction of 20,000 tonnes of CO2 emissions per year. This marks the first time that PostNord has used external funding specifically to finance its climate transition.

“It is natural for PostNord to take the lead in the logistics and transport sector’s climate transition,” said Annemarie Gardshol, President and Group CEO of PostNord. “This is also a journey where we depend on partnerships. NIB’s loan is important for maintaining a high pace in this important transition. What PostNord does has a considerable impact and benefits many other parties.”

The transport and logistics sector is responsible for around a quarter of the world’s total CO2 emissions. At the same time, many decision-makers are preoccupied with the current energy crisis. PostNord’s sustainability transition showcases how turning to cleaner and more energy-efficient logistics has the potential to set new standards across the industry, says André Küüsvek, President and CEO of NIB.

NIB, an international financial institution owned by eight Nordic and Baltic countries, finances projects that improve productivity and benefit the environment in the Nordic-Baltic region. Before deciding to finance the renewal of PostNord’s vehicle fleet, NIB conducted a rigorous sustainability and impact assessment of the company and its climate agenda.

PostNord’s agenda for sustainable logistics is based on commitments and goals in the areas of climate, employees, and diversity. The company has a Group-wide program in place to make a transition that is in line with the Paris Agreement, and its climate targets have been approved by the Science Based Targets initiative. PostNord has set two intermediate goals on the way to zero fossil fuels by 2030: reduce CO2 emissions by 40 percent by 2025 and reach zero emissions for last mile transports by 2027.

Source: PostNord