AutoWallis is the first company listed in the Premium Category of the Budapest Stock Exchange to develop a Green Finance Framework, which enables the company to both issue green bonds and receive green credit products. Although AutoWallis Group has already been committed to sustainable operations, it has made additional environmental protection commitments under the newly accepted framework: for example, it is developing e-mobility, including increasing the number of charging stations as well as the number of electric vehicles in its own fleet and its fleet of rental cars. The company is also studying the possibilities of obtaining ESG certification, which would allow those investment funds to purchase the company’s shares that prefer the shares of companies committed to sustainability.
AutoWallis Plc. is the first company listed in the Premium Category of the Budapest Stock Exchange to develop a Green Finance Framework, which includes both the green bond and the green loan framework. Although the company has already been committed to sustainable operations, it has now made a number of pledges that allow AutoWallis to issue green bonds in the future, including as part of the National Bank of Hungary’s Bond for Growth Scheme, and to receive green loan products. The CEO of AutoWallis Gábor Ormosy said that as a defining vehicle trading company and mobility service provider in the Central and Eastern European region, environmental protection aspects are especially important, so there was no doubt the Group would take additional steps in this direction. He also added that the company was examining the possibility of obtaining ESG (Environmental, Social and Governance) certification, which is now one step closer thanks to the adoption of the framework. AutoWallis’s goal with obtaining the certification is to gain the interest of investment funds that purchase the shares only of companies committed to environmental protection and have the necessary qualifications.
For example, in the Green Finance Framework the AutoWallis Group has undertaken to develop e-mobility, including adding new charging stations, installing fast chargers, and increasing the number of electric or hybrid vehicles in its own fleet as well as in its rental fleet. It will also be making green investments that result in additional energy savings at the Group’s current properties and will take steps to increase as much as possible the percentage of the renewable energy it uses and generates in the course of its operations. With this framework, AutoWallis has created the possibility for issuing green bonds and receiving green loans, which, in addition to environmental and social advantages, also provides the company with better interest rates when financing both projects and its own operations. In the interest of guaranteeing that the funds are used in line with its commitments and that green factors are enforced in its decision-making, AutoWallis has established a green committee. Every year, this committee (the members of which include Beatrix Szabó, Quality and HSE Manager at ALTEO Plc., and three members of AutoWallis’s Management Board: Andrew John Prest, Péter Antal, and Gábor Székely) will prepare a report on whether the commitments are met. Sustain Advisory has certified AutoWallis’s Green Finance Framework, and the development of the Framework was supported by MKB Consulting Zrt. MKB Consulting also provides support in developing the company’s ESG framework.