What can the asset finance and leasing community do to reduce CO2 emissions?
Leasing Life magazine recently asked the asset finance and leasing community for their views on action needed to take to tackle the effects of a warming planet.
Jochen Jehmlich, CEO of Societe Generale Equipment Finance shared his view:
“As a leading provider of asset finance solutions, we accompany our vendors and customers on their way to reduce GHG emissions by focusing on external and internal improvements. Our core competency is to provide financing and leasing structures for new and evolving sustainable business segments together with our clients and partners. We play a key role in offering financing structures for assets and solutions which deliver a positive impact on our environment. We help to lower the barrier for investment in assets and technology for our clients which deliver reduced CO2 emissions, particularly in the field of energy efficiency, low-carbon mobility and transportation.
In transportation, for example, we offer our clients financing structures for LNG/electric heavy-duty vehicles considering uncertainties in the evolution of future assets values, or we support project-based transactions in solar Photovoltaic with new risk mitigation parameters, which has not been the case in our traditional business in the past.
In addition to this, our focus is on the shift from a linear use of assets to a circular economy to optimise the use of resources and to extend asset-life cycles. We substantiated this commitment by supporting the new Circular-Valley initiative in Wuppertal (Germany). This Wuppertal consortium aims to set up accelerator programs and initiatives to support startup companies acting to lower CO2 and other emissions like the use of bio-based raw materials, circular solutions in the construction industry, solutions for collecting plastics in rivers, alternative packaging materials, recycling of electronic waste…
Besides, we optimize our own carbon footprint by analyzing, measuring and improving our own processes, procurement activities and supplier relationships. SGEF in Germany (GEFA BANK) has been through the EcoVadis external rating process for the first time this year and received the “Silver” ranking in accordance to global sustainability standards. We performed particularly well in the areas of environment and ethics. I am proud of this silver medal. Between now and next year rating, we will implement optimization measures and concrete actions based on this review, and we will extend the rating to other SGEF entities.
By concentrating on all different dimensions – internally and externally – we are able to proactively contribute to lower GHG emissions in the future.”