PostNord secures 10-year loan to renew vehicle fleet

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PostNord has signed a 10-year loan agreement with the Nordic Investment Bank (NIB) for Skr1.2bn (US$116m) to purchase new electric and biofuel vehicles , as well as electric bicycles and charging infrastructure.

This investment is expected to result in a reduction in emissions of 20,000 metric tons per year. With this investment, PostNord intends to reach its goal of becoming fossil-free by 2030. PostNord has set two intermediate goals on the way to zero fossil fuels by 2030 – reduce CO2 emissions by 40% by 2025 and reach zero emissions for last-mile transportation by 2027.

PostNord’s agenda for sustainable logistics is based on commitments and goals in the areas of climate, employees and diversity. PostNord has a group-wide program in place to make a transition that is in line with the Paris Agreement, and the group’s climate targets have been approved by the Science Based Targets initiative (SBTi).

According to the postal company, this is the first time it has used external funding specifically to finance the group’s climate transition. NIB is a financial institution owned by eight Nordic and Baltic countries. The bank aims to finance projects that improve productivity and benefit the environment in the Nordic-Baltic region. PostNord and the group’s climate agenda underwent a sustainability and impact assessment before NIB decided to finance the renewal of PostNord’s vehicle fleet.

Annemarie Gardshol, president and group CEO of PostNord, said, “It is natural for PostNord to take the lead in the logistics and transport sector’s climate transition. 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.”

André Küüsvek, president and CEO of NIB, commented, “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.”

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