CDL secures $300 mil DBS sustainability-linked loan tied to nature targets
The center builds on CDL’s Taskforce on Nature-related Financial Disclosures (TNFD) targets started in 2024, and aims to speed up the fostering of nature-based urban strategies in Singapore as the city-state advances its “City in Nature” vision.
Beyond the latest SLL, DBS additionally sustained CDL’s landmark green bond issuance in 2017– the first by a Singapore firm– as well as Singapore’s initial Sustainable Development Goals (SDG) Innovation Loan in 2019 to pilot DigiHUB, CDL’s in-house electronic platform made to boost building management effectiveness.
“Ever since 2017, we have actually secured over $11 billion in sustainable funding that supports our net-zero ambitions whilst delivering long-term worth with sustainable development,” says Yiong Yim Ming, group CFO of CDL.
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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 boosted carbon accounting and filing.
“This latest center shows how industry knowledge, structuring abilities and sustainability expertise can integrate via financing to support even more resilient urban areas that help companies, areas and the environment,” he includes.
“At DBS, we believe the realty industry plays a critical function in developing a more maintainable future, and it is our obligation to aid clients advance this vital job,” claims Chew Chong Lim, team head of Real Estate, Institutional Banking Group at DBS.
“Property property developers play an important role in advancing environment action and forming greener, more resilient and more liveable city environments,” she says.
The latest center complies with CDL’s $400 million sustainability-linked loan from DBS in 2024, which was tied to nature conservation and sustainable development targets led by CDL’s adoption of TNFD referrals.
CDL was likewise the first Singapore company to release TNFD-aligned disclosures in its Integrated Sustainability Report 2024.
Structured in line with sustainability-linked loan principles, the facility presents a collection of sustainability performance targets focused on enhancing environment and nature durability in city environments, while supporting Singapore’s Green Plan 2030.
Targets include scaling city farming initiatives, developing or expanding microforests with mainly native varieties, reinforcing stakeholder involvement on climate and nature issues, increasing the use of circular components in CDL’s property developments, and enhancing water efficiency.
She includes that the current SLL marks “the next evolution of our sustainability trip”, embedding measurable nature-based targets right into CDL’s financing framework and straightening its monetary method extra closely with ecological outcomes.
Singapore-listed property group City Developments Limited (CDL) has safeguarded a new $300 million multi-currency sustainability-linked loan (SLL) from DBS Bank.
