CDL secures $300 mil DBS sustainability-linked loan tied to nature targets
The most up to date facility adheres to CDL’s $400 million sustainability-linked loan from DBS in 2024, which was linked to nature conservation and sustainable advancement targets led by CDL’s fostering of TNFD referrals.
“Ever since 2017, we have secured over $11 billion in sustainable funding that supports our net-zero ambitions while providing long-term value via sustainable development,” states Yiong Yim Ming, group CFO of CDL.
Singapore-listed property group City Developments Limited (CDL) has actually safeguarded a brand-new $300 million multi-currency sustainability-linked funding (SLL) from DBS Bank.
The facility creates on CDL’s Taskforce on Nature-related Financial Disclosures (TNFD) targets launched in 2024, and intends to speed up the adoption of nature-based city solutions in Singapore as the city-state advances its “City in Nature” vision.
“At DBS, our company believe the property field plays a crucial role in constructing a much more lasting future, and it is our responsibility to aid customers advance this important work,” claims Chew Chong Lim, group head of Property, Institutional Banking Group at DBS.
“This most recent facility shows exactly how market knowledge, structuring capabilities and sustainability knowledge can collaborate through funding to sustain more resilient urban areas that help organizations, communities and the environment,” he includes.
DBS is also the financial partner for CDL’s SME Supplier Queen Bee Programme, which supports SMEs in decarbonising and managing Scope 3 emissions with boosted carbon accounting and filing.
Targets include scaling urban farming campaigns, establishing or expanding microforests with mostly native varieties, reinforcing stakeholder engagement on climate and nature issues, raising the use of circular materials in CDL’s property developments, and improving water efficiency.
Beyond the most recent SLL, DBS likewise sustained CDL’s landmark green bond issuance in 2017– the very first by a Singapore firm– in addition to Singapore’s first Lasting Development Goals (SDG) Innovation Loan in 2019 to pilot DigiHUB, CDL’s internal digital platform created to improve building monitoring efficiency.
Structured in line with sustainability-linked loan principles, the facility presents a suite of sustainability performance targets focused on strengthening climate and nature durability in city atmospheres, while supporting Singapore’s Green Plan 2030.
“Real estate developers play an important duty in advancing environment action and forming greener, extra resilient and more liveable metropolitan environments,” she claims.
She adds that the latest SLL marks “the next development of our sustainability journey”, installing quantifiable nature-based targets right into CDL’s funding structure and straightening its monetary method more closely with ecological end results.
CDL was additionally the initial Singapore business to publish TNFD-aligned disclosures in its Integrated Sustainability Report 2024.
