The European Bank for Reconstruction and Development (EBRD) committed €9 million to a €30 million sustainability-linked bond issued by Autonom, a prominent Romanian car leasing and rental company. This investment further strengthens Autonom’s efforts to drive sustainable growth and reduce its carbon footprint.
Autonom will utilize the bond to grow its fleet, address rising demand, and lessen its environmental impact with sustainable initiatives. The company’s sustainability plan targets a 30% reduction in fleet carbon emissions by 2028 and 55% by 2030.
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Expanding Green Ambitions
Autonom’s latest bond issuance builds on its 2021 sustainability-linked bond, Romania’s first, reaffirming its commitment to sustainable growth. The company’s updated sustainability strategy outlines ambitious environmental targets. It focuses on enhancing gender diversity in leadership, with plans to raise female representation in management from 37% in 2023 to 43% by 2028 and 46% by 2030.
Victoria Zinchuk, EBRD Director for Romania said, “We are pleased to expand cooperation with our longstanding partner Autonom and support its ambitious sustainability efforts. This issuance underpins the company’s commitment to significantly reduce its carbon footprint.
She added, “We also fully support Autonom’s pledge towards gender diversity, with the company aiming to foster better representation of women in managerial roles.”
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Supporting the EU’s Green Transition
Autonom’s green initiatives support the EU’s goals to reduce carbon emissions and accelerate the adoption of electric vehicles (EVs). The EU aims for 30 million electric cars by 2030 and a 55% reduction in CO2 emissions from 2021. The European Commission aims to phase out internal combustion engine vehicles by 2035, requiring substantial investment in electric vehicle infrastructure.
Founded in 2006 by Marius and Dan Ștefan, Autonom has grown to over 500 employees and a 15,000-vehicle fleet. The company’s expansion strategy includes both organic growth and acquisitions. Amid Romania’s economic challenges, the EBRD’s investment helps Autonom access broader debt markets, supporting expansion and financial market development.