CDL secures $300 mil DBS sustainability-linked loan tied to nature targets
Targets include scaling metropolitan farming efforts, developing or expanding microforests with mostly native species, strengthening stakeholder interaction on climate and nature issues, increasing the use of circular components in CDL’s property developments, and developing water efficiency.
Structured in accordance with sustainability-linked loan principles, the facility introduces a suite of sustainability performance targets focused on reinforcing climate and nature durability in metropolitan environments, while supporting Singapore’s Green Plan 2030.
DBS is also the financial partner for CDL’s SME Supplier Queen Bee Program, which supports SMEs in decarbonising and managing Scope 3 emissions with improved carbon accounting and reporting.
“Realty property developers play a significant role in advancing environment action and shaping greener, a lot more resilient and more liveable city environments,” she says.
The center builds on CDL’s Taskforce on Nature-related Financial Disclosures (TNFD) targets launched in 2024, and intends to speed up the adoption of nature-based city services in Singapore as the city-state advances its “City in Nature” vision.
She adds that the most recent SLL marks “the next development of our sustainability trip”, installing measurable nature-based targets into CDL’s funding framework and straightening its economic strategy more closely with ecological outcomes.
Singapore-listed commercial property group City Developments Limited (CDL) has actually secured a brand-new $300 million multi-currency sustainability-linked financing (SLL) from DBS Bank.
The most recent facility follows CDL’s $400 million sustainability-linked loan from DBS in 2024, which was linked to nature conservation and lasting advancement targets guided by CDL’s fostering of TNFD recommendations.
“At DBS, we believe the realty market plays a critical role in building a much more sustainable future, and it is our duty to help clients progress this crucial job,” claims Chew Chong Lim, group head of Real Estate, Institutional Banking Group at DBS.
Beyond the current SLL, DBS also supported CDL’s landmark green bond issuance in 2017– the very first by a Singapore company– as well as Singapore’s first Lasting Development Goals (SDG) Innovation Loan in 2019 to pilot DigiHUB, CDL’s internal electronic platform created to enhance building monitoring efficiency.
“This most recent center demonstrates how industry expertise, structuring capacities and sustainability expertise can collaborate with funding to sustain more resilient city sectors that benefit organizations, neighborhoods and the setting,” he includes.
“Ever since 2017, we have safeguarded over $11 billion in sustainable financing that supports our net-zero ambitions whilst providing long-term value through sustainable development,” states Yiong Yim Ming, group CFO of CDL.
CDL was additionally the very first Singapore company to publish TNFD-aligned disclosures in its Integrated Sustainability Report 2024.
