CDL secures $300 mil DBS sustainability-linked loan tied to nature targets
Singapore-listed real estate group City Developments Limited (CDL) has secured a new $300 million multi-currency sustainability-linked financing (SLL) from DBS Bank.
“Ever since 2017, we have actually protected over $11 billion in sustainable financing that supports our net-zero ambitions while supplying long-term value with sustainable development,” states Yiong Yim Ming, group CFO of CDL.
Past the most up to date SLL, DBS additionally supported CDL’s landmark green bond issuance in 2017– the first by a Singapore firm– in addition to Singapore’s first Sustainable Development Goals (SDG) Innovation Loan in 2019 to pilot DigiHUB, CDL’s in-house electronic platform designed to enhance building management efficiency.
“This most recent facility demonstrates just how industry knowledge, structuring abilities and sustainability understanding can integrate with funding to sustain more resilient city places that help organizations, neighborhoods and the setting,” he includes.
Targets include scaling city farming efforts, establishing or expanding microforests with mostly native species, enhancing stakeholder interaction on climate and nature issues, raising the use of circular materials in CDL’s developments, and developing water efficiency.
The latest center adheres to CDL’s $400 million sustainability-linked loan from DBS in 2024, that was tied to nature conservation and sustainable advancement targets assisted by CDL’s adoption of TNFD referrals.
DBS is also the financial partner for CDL’s SME Supplier Queen Bee Programme, that supports SMEs in decarbonising and managing Scope 3 emissions via improved carbon accounting and filing.
“At DBS, our team believe the property market plays a vital duty in constructing a more maintainable future, and it is our obligation to help clients progress this crucial work,” says Chew Chong Lim, team head of Realty, Institutional Banking Group at DBS.
She includes that the most recent SLL marks “the next evolution of our sustainability trip”, installing quantifiable nature-based targets into CDL’s financing structure and aligning its monetary method much more closely with environmental results.
The facility builds on CDL’s Taskforce on Nature-related Financial Disclosures (TNFD) targets launched in 2024, and aims to accelerate the adoption of nature-based metropolitan services in Singapore as the city-state advances its “City in Nature” vision.
CDL was also the very first Singapore company to publish TNFD-aligned disclosures in its Integrated Sustainability Report 2024.
Structured in line with sustainability-linked loan principles, the facility introduces a suite of sustainability performance targets focused on reinforcing climate and nature resilience in city environments, while supporting Singapore’s Green Plan 2030.
“Real estate developers play an important duty in advancing climate action and forming greener, much more resilient and more liveable urban surroundings,” she claims.
