DUBLIN--(BUSINESS WIRE)--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), today released its second sustainability report, outlining Environmental, Social and Governance (“ESG”)-related activities for the year 2023.
“I am delighted to present CDB Aviation’s second sustainability report and provide an update on the progress made in building a more sustainable fleet, reducing our emissions, and creating a workforce with the right knowledge and skills to deliver on our sustainability ambition,” commented Jie Chen, CDB Aviation’s Chief Executive Officer.
In 2023, CDB Aviation continued to further embed sustainability into its core strategy, with a focus on the twin pillars of “Managing our Impact” and “Maximizing our Influence” across the business and the broader industry. Key milestones achieved in executing its sustainability strategy:
- Further investment in new generation aircraft, increasing the share of the most fuel-efficient and lowest emission types to 50% of its fleet (based on aircraft count);
- Completion of the world’s first syndicated Sustainability Linked Loan (“SLL”) in the aircraft leasing industry, executing a $625 million syndicated term loan facility;
- Introduction of sustainable investing metrics into its underwriting decision-making process, becoming the first lessor to disclose asset emissions intensity data;
- Progress in building a reporting framework, preparing for the more extensive reporting requirements guided by the Corporate Sustainability Reporting Directive (“CSRD”);
- Continued industry engagement, working with customers, OEMs, and other stakeholders towards achieving IATA’s Fly Net Zero 2050 goal;
- Collaboration with Aviation Leasing Ireland (“ALI”) and Aviation Skillnet, implementing the inniu online sustainability learning platform with sector-specific ESG training;
- Completion of ESG and DEI-related training by team members, delivering on the Social key performance indicator (“KPI”) included as one of the three targets under the SLL; and
In 2023, Morningstar Sustainalytics assigned a ‘Low ESG Risk’ rating to CDB Aviation, placing the lessor in the 6th percentile within its industry group in recognition of the level of progress made across a range of sustainability initiatives as well as efforts in building the sustainability agenda.
“Looking to the future, we are encouraged by the strong start we have made in implementing our sustainability strategy into business as usual, both internally and externally, but we remain conscious that lots of hard work lies ahead,” concluded Chen.
Visit www.cdbaviation.aero/sustainability to view the lessor’s ‘Sustainability Report 2023.’
Forward-Looking Statements
This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation’s business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ”may,” “will,” “seek,” “continue,” “aim,” “anticipate,” “target,” “projected,” “expect,” “estimate,” “intend,” “plan,” “goal,” “believe,” “achieve” or other terminology or words of similar meaning. These statements are based on the current beliefs and expectations of CDB Aviation’s management and are subject to significant risks and uncertainties. Actual results and outcomes may differ materially from those expressed in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 39-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), S&P Global (A), and Fitch (A+). China Development Bank is under the direct jurisdiction of the State Council of China and is the world’s largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating.
CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China’s leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business – listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606). www.CDBAviation.aero
