Porsche: Leasing with CO₂ Compensation

Porsche also ensures CO2 compensation when leasing vehicles. The compensation in this case is achieved through the purchase of CO2 certificates from long-term climate protection projects. According to Porsche, the amount of compensation is calculated individually based on the agreed contract term and mileage, as well as the vehicle's average fuel consumption according to WLTP. Most importantly: This happens automatically and at no extra cost to the customers! Holger Peters, spokesperson for the management of Porsche Financial Services GmbH, explains:

"We are pleased to be able to contribute to the transformation phase towards electromobility with this offer, even as a financial service provider."

If the offer is well received in the home market of Germany, Porsche is considering extending it to other Porsche Financial Services markets. The CO2 compensation integrated into new car leasing at no extra cost makes the product offering more sustainable and attractive, hopes Alexander Pollich, Chairman of the Management Board of Porsche Deutschland GmbH, who adds:

"With the offer, we offset the carbon dioxide emissions of our combustion engine vehicles. Together with our customers, we are making a contribution to greater sustainability."

To achieve this, three Porsche subsidiaries have worked closely together: Porsche Deutschland and Porsche Financial Services bear the cost of compensation, and Porsche Digital has developed the "Porsche Impact" program. With an emissions calculator, customers can independently determine and offset their CO2 emissions: they enter their average fuel consumption and mileage, and receive their individual compensation amount, which financially supports certified climate protection projects.

Investment in Climate Protection Projects

Porsche's new car leasing with integrated CO2 compensation invests all compensation payments into the "Kariba Forest Protection" project in Zimbabwe. This project protects endangered forests and species and contributes to the long-term improvement of living conditions for the local population. "Kariba Forest Protection" has been certified with two internationally recognized quality standards: The "Gold Standard" co-developed by the conservation organization WWF and the "Verified Carbon Standard" of the non-profit organization Verra stand for environmentally sound project development. These projects are regularly verified and audited by independent third parties.

As part of its Strategy 2030, Porsche pursues a consistent alignment towards greater sustainability. Using well-defined metrics and a comprehensive package of measures, ecological and social aspects of sustainability, including issues of responsible corporate governance, are considered. "We fully support the goals of the Paris Climate Agreement and are continuously reducing our emissions," says Lutz Meschke, Deputy Chairman and CFO of Porsche AG. He adds:

"Our sites in Stuttgart, Weissach, and Leipzig are already operating in a CO2-neutral manner on balance. By 2030, Porsche aims to achieve CO2 neutrality across the entire value chain."

To achieve this goal, Porsche has adopted a comprehensive decarbonization program. Porsche consistently avoids and reduces CO2 emissions. Only unavoidable or irreducible emissions are demonstrably offset through certified programs. The new car leasing with integrated CO2 compensation initially applies to all leasing contracts activated in Germany by December 31, 2022.

What does this mean?

Strictly speaking, Porsche is also engaging in "greenwashing" with the new offer – but better this than nothing! Especially since customers receive the offer "on top" – and for some company car orderers, it might also be a way to officially calculate the fleet as CO2-neutral? Anyway: A strong and courageous step from the Zuffenhausen-based company.