CDL secures $300 mil DBS sustainability-linked loan tied to nature targets
Structured in line with sustainability-linked loan principles, the facility introduces a collection of sustainability performance targets focused on enhancing environment and nature strength in urban atmospheres, while supporting Singapore’s Green Plan 2030.
She includes that the most up to date SLL marks “the next evolution of our sustainability journey”, installing measurable nature-based targets into CDL’s funding structure and straightening its monetary technique much more closely with ecological results.
DBS is also the financial partner for CDL’s SME Supplier Queen Bee Program, that sustains SMEs in decarbonising and managing Scope 3 emissions via improved carbon accounting and filing.
“At DBS, our company believe the property sector plays a crucial function in constructing a more sustainable future, and it is our duty to help customers progress this vital work,” claims Chew Chong Lim, team head of Realty, Institutional Banking Group at DBS.
The center builds on CDL’s Taskforce on Nature-related Financial Disclosures (TNFD) targets launched in 2024, and aims to increase the adoption of nature-based metropolitan services in Singapore as the city-state advances its “City in Nature” vision.
CDL was also the initial Singapore business to release TNFD-aligned disclosures in its Integrated Sustainability Report 2024.
Nava Grove Pine Grove and Ulu Pandan area
“Since 2017, we have safeguarded over $11 billion in sustainable funding that supports our net-zero ambitions while providing long-term worth via sustainable development,” says Yiong Yim Ming, group CFO of CDL.
Beyond the most recent SLL, DBS additionally supported 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 digital platform developed to boost building monitoring efficiency.
“Real estate developers play a necessary function in advancing environment action and shaping greener, extra resilient and more liveable urban environments,” she says.
The latest facility follows CDL’s $400 million sustainability-linked loan from DBS in 2024, that was tied to nature conservation and lasting advancement targets led by CDL’s fostering of TNFD referrals.
Singapore-listed real estate group City Developments Limited (CDL) has protected a new $300 million multi-currency sustainability-linked funding (SLL) from DBS Bank.
“This most recent facility shows just how market knowledge, structuring abilities and sustainability expertise can integrate with financing to support more resistant urban areas that benefit businesses, neighborhoods and the atmosphere,” he adds.
Targets consist of scaling metropolitan farming campaigns, developing or broadening microforests with primarily native species, enhancing stakeholder involvement on climate and nature issues, increasing the use of circular materials in CDL’s developments, and improving water efficiency.
