CDL secures $300 mil DBS sustainability-linked loan tied to nature targets
Singapore-listed commercial property group City Developments Limited (CDL) has protected a brand-new $300 million multi-currency sustainability-linked funding (SLL) from DBS Bank.
Structured in line with sustainability-linked loan principles, the facility presents a suite of sustainability performance targets focused on strengthening climate and nature durability in urban environments, while supporting Singapore’s Green Plan 2030.
Targets include scaling urban farming campaigns, developing or expanding microforests with mostly native varieties, reinforcing stakeholder involvement on climate and nature issues, increasing the use of circular components in CDL’s property developments, and improving water efficiency.
CDL was additionally the very first Singapore company to publish TNFD-aligned disclosures in its Integrated Sustainability Report 2024.
Past the most up to date SLL, DBS additionally sustained CDL’s landmark green bond issuance in 2017– the very first by a Singapore business– in addition to Singapore’s first Lasting Development Goals (SDG) Innovation Loan in 2019 to pilot DigiHUB, CDL’s in-house electronic system developed to improve building administration effectiveness.
The most recent facility adheres to CDL’s $400 million sustainability-linked loan from DBS in 2024, which was linked to nature conservation and sustainable growth targets guided by CDL’s fostering of TNFD referrals.
“Real estate property developers play a necessary role in advancing climate action and shaping greener, extra resilient and more liveable metropolitan atmospheres,” she claims.
“Ever since 2017, we have actually safeguarded over $11 billion in sustainable financing that supports our net-zero ambitions whilst providing long-term value through maintainable development,” says Yiong Yim Ming, group CFO of CDL.
The facility builds on CDL’s Taskforce on Nature-related Financial Disclosures (TNFD) targets started in 2024, and aims to accelerate the fostering of nature-based city options in Singapore as the city-state advances its “City in Nature” vision.
She adds that the current SLL marks “the next development of our sustainability journey”, installing measurable nature-based targets into CDL’s funding structure and straightening its financial technique extra closely with ecological results.
“At DBS, we believe the property sector plays an important function in developing a more sustainable future, and it is our duty to help customers advance this vital work,” claims Chew Chong Lim, team head of Realty, Institutional Banking Group at DBS.
DBS is also the financial partner for CDL’s SME Supplier Queen Bee Programme, which supports SMEs in decarbonising and managing Scope 3 emissions through boosted carbon accounting and filing.
“This most current center demonstrates how industry knowledge, structuring capacities and sustainability expertise can come together through financing to sustain more resilient metropolitan places that benefit companies, neighborhoods and the atmosphere,” he includes.
