New Zealand Green Investment Finance (NZGIF) has made a $5.8m investment in Carbn Group, the parent company of two distinct subsidiaries that have been formed to support the uptake of low emissions vehicles in corporate and government-owned fleets.
Carbn Asset Management offers fleet optimisation services, assisting fleet managers to reduce fleet size, optimise vehicle use and transition to low emissions vehicles.
Sustainable Fleet Finance Limited is a fleet financer specialising in financing low emissions vehicles, with expertise in the economics of electric vehicles.
While often collaborating, these companies will operate independently to reduce New Zealand’s light vehicle fleet emissions, in line with NZGIF’s purpose and New Zealand’s wider aspiration to reduce vehicle emissions, which is the country’s fastest growing emissions sector.
NZGIF’s Chief Executive Officer Craig Weise says, “we are pleased to be working with Carbn Group on a high priority sector for New Zealand Green Investment Finance and New Zealand as a whole. With support from companies like Carbn and Sustainable Fleet Finance, companies can feel confident in embarking on their journey to reduce vehicle emissions”.
“From our perspective, it is gratifying to be able to offer a package of innovative equity and debt financing tailored to the needs of this opportunity. It shows what is possible with NZGIF’s flexible mandate to accelerate emissions reduction investment. We’re pleased to be able to position these companies for growth that will in turn help New Zealand companies economically decarbonise their fleets”.
Carbn Group Chief Operating Officer David Simpson remarked: “For many companies, vehicle fleets represent low hanging fruit to reduce emissions and cut costs. Carbn Asset Management will work with organisational fleet and sustainability personnel to develop practical, evidence-based transition plans to low emission vehicles and optimal fleet sizes over time. Sustainable Fleet Finance will provide flexible fleet financing and operational management solutions to help clients manage their changing needs throughout the transition.”
For more information, contact:
Jenny Lackey | Communications | New Zealand Green Investment Finance
Mobile: 021 340 847
More about NZGIF
New Zealand Green Investment Finance (NZGIF) is a green investment bank established by the Crown to accelerate investment that reduces greenhouse gas emissions. Set up with initial capital of NZD$100 million, NZGIF is an independent limited liability company.
More about Carbn Goup
In New Zealand, the transport sector accounts for around 19% of GHG emissions. Transport is New Zealand’s fastest growing emissions sector and emissions have risen by more than 70% since 1990. However, momentum is building for low emissions transport technology adoption.
The Carbn Group companies have been established to address knowledge and capability gaps in the market for specialist low emissions vehicle transition, fleet optimisation and financing. The goal is to accelerate transport emission reductions through the effective and efficient adoption of low emission vehicles.
Carbn’s services reduce the overall cost of a fleet and ensure continuous reduction of fleet carbon emissions by reviewing a company’s vehicle types and usage patterns to assist them to transition to a low emissions fleet. For example, a strategy could reduce a corporate company’s fleet size or replace dedicated staff vehicles over time with electric vehicles. This approach ensures that Carbn’s service is a saving for clients rather than an additional cost.
The mission of SFF is to accelerate New Zealand’s transition to a low carbon future by delivering innovative low emissions fleet financing and operational management solutions to government and corporate fleet owners.