Green Structuring Advisor for first North American railcar lessor to launch a Green Financing Framework
The Green Financing Framework enables Trinity Industries Leasing Company (TILC), a wholly-owned subsidiary of Trinity Industries, Inc., to issue green financing instruments, including green non-recourse ABS bonds and green loans, supported by green eligible assets. TILC will manage and report on eligible projects and assets, in line with the Green Bond Principles, 2018 and the Green Loan Principles, 2020.
Under the framework, currently eight of TILC’s outstanding debt financings, representing over $4 billion of railcar-related debt, meet the criteria and qualify for the Green Financing designation.
The Green Financing Framework underwent an external assessment by Sustainalytics, a Morningstar, Inc. company and an independent provider of ESG and corporate governance research, ratings and analytics, which provided a Second-Party Opinion on the Green Financing Framework.
Elisa Lajonchere, Managing Director and Head of the North American Rail team at Crédit Agricole CIB, said: “TILC is the first railcar lessor in North America to publish a Green Financing Framework. Crédit Agricole CIB is very excited to partner with Trinity to be at the forefront of this initiative for the industry and align our mutual commitment to sustainable financing and sustainable development goals”.
Eric Marchetto, Executive Vice President and Chief Financial Officer at TILC, added: “Trinity is committed to reducing its own environmental impact as we recognize climate change is a challenge facing our business, the industry, and the communities in which we service. We are proud to be leading the charge for the North American railcar industry as the first railcar lessor to publish a Green Financing Framework for railcar assets, and we are pleased to have Credit Agricole CIB supporting Trinity in our sustainable finance efforts.”