EQS-News: Knorr-Bremse publishes inaugural Green Finance Framework

Knorr-Bremse publishes inaugural Green Finance Framework
 

• Green Finance Framework is a further continuation of Knorr-Bremse’s commitments and efforts to drive its environmental protection and decarbonization ambitions and integrate sustainability into its financing structure

• Moody’s Investor Service provided a Second Party Opinion validating the consistency of the framework with International Capital Market Association’s (ICMA) Green Bond Principles and assigning a SQS2 sustainability quality score (very good)

Munich, August 23, 2024 – Knorr Bremse AG continues to implement its focus on sustainability within its financing toolbox. The global market leader for braking systems and a leading supplier of other safety-critical rail and commercial vehicle systems, today published its inaugural Green Finance Framework.

The framework was evaluated by ESG agency Moody’s Investor Service in form of a Second Party Opinion. Moody’s confirms the alignment of Knorr-Bremse’s framework with the ICMA Green Bond Principles (2021) and the significant contribution of the framework to sustainability. The Framework is awarded with an SQS2 sustainability quality score (very good).

Frank Markus Weber, CFO of Knorr-Bremse AG: "With the publication of Knorr-Bremse’s Green Finance Framework, we are continuing our journey in implementing sustainability aspects in our financing structure. The framework will further enhance our sustainability ambitions and support our efforts in sustainable mobility and decarbonizing our own operations."

The framework enables Knorr-Bremse to issue Green Finance Instruments, such as bonds or loans, to finance or refinance eligible projects. It focuses on four categories as set out by ICMA: Clean transportation, renewable energy, energy efficiency, and green buildings. Expenditures that qualify for allocation under the framework must fulfill predefined eligibility criteria, which adhere to the substantial contribution criteria as set out in the EU Taxonomy.

The framework follows several other sustainable finance instruments already put in place by Knorr-Bremse. In 2022 Knorr-Bremse signed its inaugural ESG-Linked Revolving Credit Facility and issued its Inaugural Sustainability-Linked Bond as well as Knorr-Bremse signed an ESG-Linked Supply Chain Finance Program in 2022.

The Green Finance Framework and the Second Party Opinion are available on Knorr-Bremse’s investor relations website and under the following links:

Framework:    Knorr-Bremse_Green_Finance_Framework.pdf

Second Party Opinion:  Second_Party_Opinion-KnorrBremse-AG-Second-Party-23Aug2024-PBC_1415486.pdf (knorr-bremse.com)

Media:

Alexander Stechert-Mayerhöfer, Head of Corporate Communications

Phone: +49 89 3547 1942,

E-Mail: alexander.stechert-mayerhoefer@knorr-bremse.com

Corporate Treasury:

Kai Gloystein, Head of Group Treasury

Tel: +49 89 3547 2248,

E-Mail kai.gloystein@knorr-bremse.com

About Knorr-Bremse

Knorr-Bremse (ISIN: DE000KBX1006, ticker symbol: KBX) is the global market and technology leader for braking systems and a leading supplier of other rail and commercial vehicle systems. Knorr-Bremse’s products make a decisive contribution to greater safety and energy efficiency on rail tracks and roads around the world. 33,000 employees at over 100 locations in approximately 30 countries develop and produce innovative solutions and services that meet the highest technological standards. In 2023, Knorr-Bremse’s two divisions together generated revenues of approximately € 7.9 billion. For almost 120 years, the company has been at the cutting edge of its industries, driving innovation in mobility and transportation technologies with a leading edge in connected system solutions. Knorr-Bremse is one of Germany’s most successful industrial companies and profits from the key global megatrends: urbanization, sustainability, digitalization, and mobility.

Disclaimer

This publication has been independently prepared by Knorr-Bremse AG. It may contain forward-looking statements which address key issues such as strategy, future financial results, events, competitive positions, and product developments. These forward-looking statements – like any business activity in a global environment – are always associated with uncertainty. They are subject to a number of risks, uncertainties, and other factors, including, but not limited to, those described in Knorr-Bremse’s disclosures. Should one or more of these risks, uncertainties or other factors materialize, or should underlying expectations not occur or should assumptions prove incorrect, the actual results, performances, or achievements of Knorr-Bremse may vary materially from those described in the relevant forward-looking statements. Such forward-looking statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Knorr-Bremse does not intend, nor does it assume any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated.

This publication may include supplemental financial measures – not clearly defined in the applicable financial reporting framework – that are or may be alternative performance measures (non-GAAP measures). Knorr-Bremse’s financial position, financial performance, and cash flows should not be assessed solely on the basis of these alternative supplemental financial measures. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the applicable financial reporting framework. The calculation by other companies that report or describe similarly titled alternative performance measures may vary despite the use of the same or similar terminology.