Sweden. PostNord AB
| Date of agreement: | 07 Dec 2022 |
|---|---|
| Country: | Sweden |
| Customer: | PostNord AB |
| Amount in SEK: | SEK 1,200 million |
| Amount in EUR: | EUR 110 million |
| Maturity: | 10 years |
| NACE sector / loan type: | Post and telecommunications, A/B loan |
This loan contributes to climate change mitigation: 100%
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Clean transport solutions
Amount disbursed: EUR 106.47 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
Project
The loan has been provided to finance the renewal of PostNord’s vehicle fleet and related infrastructure investments.
NIB’s financing will support the further use of green transport in the company’s operations, including electric vehicles and vehicles run on biofuels as well as bicycles and charging infrastructure. The new vehicles will replace the old fleet typically run on diesel.
PostNord AB is a public limited company working with communication, e-commerce, distribution, and logistics solutions around the Nordic region. The company was created through a merger between the Swedish Posten AB and Post Danmark A/S in 2009. PostNord AB is 40% owned by the Danish state and 60% by the Swedish state.
Fulfilment of NIB's mandate
Productivity:
While operational costs of electric vehicles can be significantly lower compared to traditional combustion engine vehicles, the estimated cost-efficiency gains of this project are rather limited due to investment costs in infrastructure and potential range limitations.
Nevertheless, reducing CO2 emissions in logistics has become an important societal aspect of operations, with electrified and low emission vehicles expected to become an industry standard. Although the advantages and tangible cost-efficiency gains will take time to materialize, the company may benefit from participating in this shift in its early stages.
Impact indicators:
- Parcel deliveries per FTE
- Letter deliveries per FTE
- Operating margin
- Weighted average parcel delivery quality
- Transportation expenses
Environment:
The project entails the purchase of electric cars, electric distribution vans, biogas trucks, trucks and vans run on biofuel as well as bicycles and related infrastructure.
As the old fleet will be replaced with the new vehicles, PostNord estimates that the investments will reduce CO2 emissions by around 20,000 tonnes per year.
Impact indicators:
- Number of vehicles purchased
- CO2 reduction per year
Sustainability summary
No significant sustainability risks have been identified in relation with the project.
