CDL secures $300 mil DBS sustainability-linked loan tied to nature targets
Structured in line with sustainability-linked loan principles, the facility introduces a suite of sustainability performance targets focused on strengthening climate and nature strength in metropolitan atmospheres, while supporting Singapore’s Green Plan 2030.
She adds that the most recent SLL marks “the next development of our sustainability trip”, installing quantifiable nature-based targets right into CDL’s funding framework and straightening its monetary approach more closely with environmental outcomes.
The current facility follows CDL’s $400 million sustainability-linked loan from DBS in 2024, that was linked to nature conservation and lasting growth targets led by CDL’s adoption of TNFD suggestions.
CDL was also the very first Singapore business to release TNFD-aligned disclosures in its Integrated Sustainability Report 2024.
Beyond the most recent SLL, DBS additionally sustained CDL’s landmark green bond issuance in 2017– the very first by a Singapore business– along with Singapore’s first Sustainable Development Goals (SDG) Innovation Loan in 2019 to pilot DigiHUB, CDL’s internal electronic platform developed to enhance building monitoring performance.
Singapore-listed property group City Developments Limited (CDL) has safeguarded a new $300 million multi-currency sustainability-linked financing (SLL) from DBS Banking.
The facility creates on CDL’s Taskforce on Nature-related Financial Disclosures (TNFD) targets started in 2024, and intends to speed up the adoption of nature-based city services in Singapore as the city-state developments its “City in Nature” vision.
“At DBS, our team believe the property field plays a vital role in constructing a much more lasting future, and it is our duty to help clients advance this crucial work,” says Chew Chong Lim, team head of Realty, Institutional Banking Group at DBS.
Targets include scaling urban farming campaigns, establishing or broadening microforests with mostly native varieties, reinforcing stakeholder engagement on climate and nature issues, raising the use of circular materials in CDL’s developments, and enhancing water efficiency.
“Real estate property developers play a necessary duty in advancing climate action and shaping greener, extra resilient and more liveable urban surroundings,” she states.
“Since 2017, we have actually protected over $11 billion in sustainable financing that supports our net-zero ambitions whilst supplying long-term value through maintainable development,” says Yiong Yim Ming, group CFO of CDL.
“This most recent facility shows how industry knowledge, structuring abilities and sustainability expertise can come together with funding to sustain more resilient city places that benefit businesses, communities and the setting,” he adds.
DBS is also the financial partner for CDL’s SME Supplier Queen Bee Program, that supports SMEs in decarbonising and managing Scope 3 emissions through improved carbon accounting and reporting.
