In June this year, CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (hereinafter referred to as “CDB Leasing”), which specializes in aircraft leasing, released its second ESG report, elaborating on the Company’s activities and achievements relating to environment, social responsibility, and corporate governance in 2023.
Chen Jie, CEO of CDB Aviation, said, “We are always committed to building a more sustainable fleet and straining every nerve to reduce carbon emissions, and resort to professional teams and technologies to deliver on this goal of sustainability, We are glad to release the second ESG report to introduce CDB Aviation’s progress and achievements in seeking sustainable development”.
In 2023, CDB Aviation continued to integrate sustainability into the Company’s core strategies, prioritized its sustainable practices to influence the industry, and worked strenuously to gain increasing influence in business and the industry. The report details CDB Aviation’s breakthroughs and iconic achievements in implementing strategies of sustainability:
·We scaled up investment to develop a new generation of energy-efficient aircraft, with the share of aircraft types boasting the optimal fuel efficiency and the lowest carbon emissions reaching up to 50%;
·We completed the first sustainability-linked consortium loan program in the global aviation leasing industry, totaling USD625 million in total;
·We introduced Sustainability Performance Targets (SPTs) into the decision-making process, and became the first aircraft leasing company to disclose data on carbon intensity of assets;
·We further improved the framework for the sustainability report, and got poised to prepare more detailed reports as required in Corporate Sustainability Reporting Directive (CSRD) approved by the European Commission;
·We continued to deepen cooperation with interested parties such as airlines, aircraft manufacturers, and other stakeholders to deliver on net-zero carbon dioxide (CO2) emissions by 2050, a goal set by International Air Transport Association (IATA);
·In cooperation with Aircraft Leasing Ireland (ALI) and the training institution Aviation Skilnet, we introduced Inniu, a training platform for sustainability, to conduct training sessions among employees on sustainability of aircraft leasing;
·We fulfilled training on ESG and DEI (Diversity, Equity and Inclusion) to meet the social KPIs required to get sustainability-linked consortium loans.
In 2023, Morningstar Sustainalytics, a sustainability rating agency, rated ESG performance of CDB Aviation as low risk and ranked it in the top 6% in the aviation leasing sector, indicating the industry’s high recognition for CBD Aviation in terms of sustainability.
Chen Jie, CEO of CDB Aviation, said, “Looking ahead, we are encouraged that we have made a good start in implementing sustainability strategies internally and externally, but we should be aware that there are still many challenges to be overcome.”
