CDB Aviation Releases 2023 Sustainability Report

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co. has released its second sustainability report, outlining Environmental, Social and Governance (“ESG”)-related activities for the year 2023.

“I am delighted to present CDB Aviation’s second sustainability report and provide an update on the progress made in building a more sustainable fleet, reducing our emissions, and creating a workforce with the right knowledge and skills to deliver on our sustainability ambition,” commented Jie Chen, CDB Aviation’s Chief Executive Officer.

In 2023, CDB Aviation continued to further embed sustainability into its core strategy, with a focus on the twin pillars of “Managing our Impact” and “Maximizing our Influence” across the business and the broader industry. Key milestones achieved in executing its sustainability strategy:

Further investment in new generation aircraft, increasing the share of the most fuel-efficient and lowest emission types to 50% of its fleet (based on aircraft count);

Completion of the world’s first syndicated Sustainability Linked Loan (“SLL”) in the aircraft leasing industry, executing a $625 million syndicated term loan facility;

Introduction of sustainable investing metrics into its underwriting decision-making process, becoming the first lessor to disclose asset emissions intensity data;

Progress in building a reporting framework, preparing for the more extensive reporting requirements guided by the Corporate Sustainability Reporting Directive (“CSRD”);

Continued industry engagement, working with customers, OEMs, and other stakeholders towards achieving IATA’s Fly Net Zero 2050 goal;

Collaboration with Aviation Leasing Ireland (“ALI”) and Aviation Skillnet, implementing the inniu online sustainability learning platform with sector-specific ESG training;

Completion of ESG and DEI-related training by team members, delivering on the Social key performance indicator (“KPI”) included as one of the three targets under the SLL; and

In 2023, Morningstar Sustainalytics assigned a ‘Low ESG Risk’ rating to CDB Aviation, placing the lessor in the 6th percentile within its industry group in recognition of the level of progress made across a range of sustainability initiatives as well as efforts in building the sustainability agenda.

“Looking to the future, we are encouraged by the strong start we have made in implementing our sustainability strategy into business as usual, both internally and externally, but we remain conscious that lots of hard work lies ahead,” concluded Chen.

Visit www.cdbaviation.aero/sustainability to view the lessor’s ‘Sustainability Report 2023.’

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