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$3.5bn (€2.3bn).
The partnership builds on shared commitments to work toward decarbonizing economies and achieving the COP21 net-zero objective by 2050, in a context where public transportation solutions such as Alstom’s are essential to reducing global greenhouse gas emissions in Canada and internationally.
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 & 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.
Michael Keroullé, president of Alstom Americas, said, “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.”
Sven List, senior vice-president, corporate and international group at EDC added, “The demand for greener, more sustainable global mobility is rising and Alstom is delivering. Its innovative approach to rail is helping lead societies to a lower carbon future while ensuring cities around the world can respond to their growing transportation needs. Through our partnership, EDC’s financing and insurance solutions will enable Alstom to expand its Canadian and global footprint meeting rapidly evolving demographics and increase in urbanization while preserving the environment and connecting nations in developed and underdeveloped areas around the world.”
Alstom has been present in Canada for more than 80 years and is a long-term and dedicated partner of the country’s public transit development, building, designing and modernizing rail systems for Canada’s major cities and regions.
With over 4,300 employees and 1,200 suppliers in the country, Alstom maintains a very extensive presence in Canada through its headquarters for the Americas Region in Saint-Bruno-de-Montarville, Quebec, manufacturing sites in La Pocatière, Quebec, as well as Brampton, Kingston and Thunder Bay, Ontario, and operational and maintenance activities in major cities.
In addition to such Canadian projects as future streetcars for Toronto and Quebec City and new trains for Vancouver’s SkyTrain, the company also is an important Canadian exporter. Through Alstom’s above-mentioned 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 US, 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 center for green rail mobility solutions announced in July 2022.