Invested through
  • Triodos Pioneer Impact Fund
  • Triodos Multi Impact Fund
  • Triodos Impact Strategy Fund - Defensive
  • Triodos Impact Strategy Fund - Balanced
  • Triodos Impact Strategy Fund - Offensive
  • Triodos Impact Strategy Fund - Dynamic
Asset ClassesListed equity
Impact strategyImpact Equities and Bonds
ISIN codeDE000KBX1006
Industry groupCapital goods
Aligned with SDGs

Knorr Bremse is a market leader in braking systems and other subsystems for rail and commercial vehicles. It operates through two segments: Rail Vehicle Systems (RVS) and Commercial Vehicle Systems (CVS). RVS (49% of sales) mainly equips mass transit vehicles, such as metro cars, mainline freight and passenger trains with brake systems but also with other systems such as entrance systems or heating, ventilation, and air conditioning (HVAC). CVS (51% of sales) mainly equips heavy duty trucks but also buses, trailers and agricultural machinery with brake systems as well as driver assistance systems or energy supply and distribution systems. The company was founded in 1905 by Georg Knorr and has nearly 29,000 employees working at over 100 sites in more than 30 countries.

Investment rationale

Knorr Bremse has a theme fit with the Sustainable Mobility & Infrastructure theme. Transportation systems are the backbone of our economy. However, transportation represents roughly a quarter of global CO2 emissions. KBX’s positive impact is twofold. On the one hand, as the global market leader in brake systems for trains, the company is key in the development of trains, which is known to be among the most energy and CO2-efficient modes of transport. The company is also a key player in the automation of trucks, which has the potential to significantly reduce fuel consumption and accident rates. The company actively develops eco-design across its product lines to provide more energy-efficient products.