CDL secures $300 mil DBS sustainability-linked loan tied to nature targets
Past the current SLL, DBS also sustained CDL’s landmark green bond issuance in 2017– the first by a Singapore company– in addition to Singapore’s first Lasting Development Goals (SDG) Innovation Loan in 2019 to pilot DigiHUB, CDL’s in-house electronic platform developed to boost building management performance.
DBS is also the financial partner for CDL’s SME Supplier Queen Bee Program, that sustains SMEs in decarbonising and managing Scope 3 emissions through enhanced carbon accounting and filing.
“Realty developers play an important function in advancing climate action and shaping greener, a lot more resilient and more liveable city environments,” she says.
The facility creates on CDL’s Taskforce on Nature-related Financial Disclosures (TNFD) targets released in 2024, and aims to speed up the fostering of nature-based city strategies in Singapore as the city-state developments its “City in Nature” vision.
“At DBS, our team believe the realty sector plays a critical function in building a much more sustainable future, and it is our obligation to help customers advance this essential job,” claims Chew Chong Lim, group head of Real Estate, Institutional Banking Group at DBS.
Singapore-listed commercial property group City Developments Limited (CDL) has actually safeguarded a new $300 million multi-currency sustainability-linked loan (SLL) from DBS Bank.
The current facility follows CDL’s $400 million sustainability-linked loan from DBS in 2024, which was linked to nature conservation and lasting advancement targets assisted by CDL’s fostering of TNFD referrals.
“This latest center demonstrates just how industry competence, structuring capacities and sustainability understanding can integrate with funding to support even more resilient urban places that help organizations, areas and the setting,” he adds.
Structured in line with sustainability-linked loan principles, the facility introduces a suite of sustainability performance targets focused on strengthening environment and nature resilience in metropolitan settings, while supporting Singapore’s Green Plan 2030.
She adds that the most recent SLL marks “the next development of our sustainability trip”, embedding quantifiable nature-based targets right into CDL’s financing framework and aligning its financial strategy more closely with environmental end results.
Targets include scaling urban farming initiatives, developing or broadening microforests with predominantly native types, strengthening stakeholder interaction on climate and nature issues, increasing the use of circular components in CDL’s developments, and enhancing water efficiency.
“Since 2017, we have actually protected over $11 billion in sustainable funding that supports our net-zero ambitions whilst supplying long-term worth through maintainable development,” claims Yiong Yim Ming, group CFO of CDL.
CDL was likewise the initial Singapore company to publish TNFD-aligned disclosures in its Integrated Sustainability Report 2024.
