CDL secures $300 mil DBS sustainability-linked loan tied to nature targets
CDL was likewise the initial Singapore firm to release TNFD-aligned disclosures in its Integrated Sustainability Report 2024.
“At DBS, our company believe the real estate sector plays a critical function in building an extra sustainable future, and it is our duty to aid clients advance this important work,” says Chew Chong Lim, team head of Real Estate, Institutional Banking Group at DBS.
Past the current SLL, DBS additionally sustained CDL’s landmark green bond issuance in 2017– the very first by a Singapore business– along with Singapore’s initial Lasting Development Goals (SDG) Innovation Loan in 2019 to pilot DigiHUB, CDL’s internal digital system made to enhance building administration performance.
DBS is also the financial partner for CDL’s SME Supplier Queen Bee Program, that supports SMEs in decarbonising and managing Scope 3 emissions via enhanced carbon accounting and filing.
Targets consist of scaling metropolitan farming initiatives, developing or broadening microforests with mostly native types, strengthening stakeholder engagement on climate and nature issues, increasing the use of circular materials in CDL’s property developments, and enhancing water efficiency.
“Property property developers play a necessary duty in advancing climate action and forming greener, much more resilient and more liveable city surroundings,” she says.
Robertson Opus Frasers Property and Sekisui House
“Since 2017, we have secured over $11 billion in sustainable financing that supports our net-zero ambitions whilst supplying long-term value through maintainable development,” states Yiong Yim Ming, group CFO of CDL.
The most recent facility adheres to CDL’s $400 million sustainability-linked loan from DBS in 2024, that was tied to nature conservation and sustainable growth targets assisted by CDL’s adoption of TNFD referrals.
Structured in accordance with sustainability-linked loan principles, the facility presents a collection of sustainability performance targets focused on enhancing environment and nature resilience in city atmospheres, while supporting Singapore’s Green Plan 2030.
The facility builds on CDL’s Taskforce on Nature-related Financial Disclosures (TNFD) targets started in 2024, and aims to accelerate the adoption of nature-based city services in Singapore as the city-state developments its “City in Nature” vision.
Singapore-listed commercial property group City Developments Limited (CDL) has protected a new $300 million multi-currency sustainability-linked funding (SLL) from DBS Bank.
She includes that the latest SLL marks “the next development of our sustainability journey”, installing measurable nature-based targets right into CDL’s funding framework and straightening its financial approach much more closely with environmental results.
“This most recent facility demonstrates exactly how sector proficiency, structuring capacities and sustainability expertise can collaborate through funding to support even more resistant city spaces that benefit businesses, communities and the setting,” he adds.
