Through a program promoted by the International Finance Corporation, part of the World Bank, and ALD, an international institution in sustainable mobility solutions for the private sector, Mexico will receive a significant investment for electromobility.
The joint investment amounts to US$400 million, in a partnership that aims to reduce carbon emissions in transportation by accelerating the adoption and penetration of green vehicles in emerging markets.
The resources will help ALD increase its green fleet, a mix of hybrid, plug-in hybrid and battery electric vehicles, in seven countries: Turkey, Mexico, India, Serbia, Romania, Bulgaria and Croatia.
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Outreach
The financing is expected to add 15,000 green vehicles with the potential to reduce carbon emissions by 22,180 tons per year in the target countries by 2026.
According to a statement from the International Finance Corporation, transportation is a significant contributor to the effects of climate change, accounting for 23% of global energy-related greenhouse gas emissions, 17% from road transport alone, a primary target for decarbonization.
Innovation and financing of green vehicles could reduce millions of tons of carbon emissions produced by the transport sector worldwide each year.
Key Partnership
Makhtar Diop, Managing Director of IFC, noted that the adoption of green vehicles is an important part of reducing carbon emissions in emerging markets.
“Partnering with global players such as Société Générale and AML is an opportunity for IFC to increase financing for sustainable mobility and reflects our commitment to innovative financing models for climate solutions,” he explained.
For his part, Tim Albertsen, CEO of AML:, assured that as the world’s leading provider of sustainable mobility, their role is to make the energy transition happen in the 44 countries in which they operate.
“This financial partnership will further strengthen our sustainable mobility strategy in emerging markets where the adoption of low-emission vehicles is still quite low and will allow us to accelerate the transition to green vehicles to fight climate change on a global scale,” he said.
