The €2.3 billion project (CAD $3.5bn) is set to last three years, envisioning potential export finance support and insurance for mobility projects managed by Alstom’s clients.

 

Alstom has emphasised their innovation-focused solutions are based on green and smart solutions, including emissions-free propulsion systems such as batteries and hydrogen.

 

Alstom’s solutions are essential to reducing global greenhouse gas (GHG) emissions in Canada and internationally as highlighted by Michael Keroullé, president of Alstom Americas.

 

Keroullé said: “We are very proud to establish this partnership with EDC, especially since it recognizes the very positive role played by the company, its employees and its operations for the Canadian economy and the essential contribution made by its green products to the reduction of GHGs in the Americas and globally. We thank EDC for its support to grow Alstom’s leadership in sustainable mobility.”

 

According to the Paris Agreement, one of its goals, which is in line with this cooperation, is to finance developing nations’ efforts to reduce climate change, boost resilience and improve their capacity to adapt to its effects.

 

This aim is further recognised by Sven List, SVP of the corporate and international group at EDC: “The demand for greener, more sustainable global mobility is rising and Alstom is delivering. Their innovative approach to rail is helping lead societies to a lower carbon future while ensuring cities around the world can respond to their growing transportation needs.

 

“Through our partnership, EDC’s financing and insurance solutions will enable Alstom to expand their Canadian and global footprint, meeting rapidly evolving demographics and increase in urbanisation while preserving the environment and connecting nations in developed and underdeveloped areas around the world.”

 

In accordance with the agreement, EDC will concentrate its financial assistance on digital rail systems, services and initiatives that use propulsion systems that are electrified, hybrid, battery or hydrogen-powered for low-emission freight and passenger transportation.

 

By using indicators like CO2 emissions, electricity supply from renewable sources and gender balance in management roles, the partnership aims to achieve the highest standards in terms of ESG-focused financing.

 

Additionally, Alstom and EDC will investigate new possibilities to encourage Alstom to make further green investments in Canada.

 

Through this partnership, Alstom maintains an extensive 80-year presence in Canada, with over 4,300 employees in the country and over 1,200 suppliers.