Project Details
Project
Toyota Leasing Thailand Green Financing Framework
Client
Toyota Leasing Thailand
Project Type
Impact Reports
Industry Group
Automobiles
Use of Proceeds
Clean transport
Location
Thailand
Evaluation Date
Mar 2022
Evaluation Summary
Impact Summary
Sustainalytics has calculated the estimated impact achieved by the green bonds Toyota Leasing (Thailand) Co., Ltd. issued in April 2021 and February 2022. Projects in the category Clean Transportation across Thailand were allocated THB 4 billion. For a representative year of the bond tenure, Sustainalytics has calculated 8,853 tonnes of avoided emissions in CO2e.
Introduction
Toyota Leasing (Thailand) Co., Ltd. (“TLT”) is an indirect majority-owned subsidiary of Toyota Motor Corporation. TLT operates as an auto financing company offering hire purchase, financial lease, operating lease and vehicle registration to Toyota, Lexus, Hino and Suzuki customers in Thailand. In 2021 and 2022, TLT issued green bonds and allocated the proceeds according to the TLT Green Financing Framework. Sustainalytics provided a Second-Party Opinion on the Green Financing Framework proposed by TLT, evaluating it as credible, impactful and aligned with the Green Bond Principles 2018 and the Green Loan Principles 2021. 1,2 TLT engaged Sustainalytics to quantify the environmental benefits of the projects refinanced with the proceeds from TLT’s green bonds. Using established methodologies, Sustainalytics has estimated avoided emissions from TLT’s hybrid vehicle leases. This report presents the details of our findings, including a description of the methodology used to calculate the impacts.