CapitaLand on April 17, 2020 has secured a total of SGD400 million (approximately $280 million) in two bilateral green loans to catalyse the greening out of the group’s global portfolio by 2030.
The loans extended to CapitaLand include SGD150 million ($105.46 million) four-year green loan provided by DBS Bank Ltd. (DBS) while the SGD250 million ($175.76 million) three-year multi-currency green loan is provided by HSBC's Singapore Branch.
LogisTech of CapitaLand is Singapore’s first Super Low Energy certified logistics building
The proceeds from these green loans will be used towards the financing or refinancing of the development, investment, and acquisition of certified green buildings.
The green buildings must achieve or are expected to achieve minimally a Green Mark GoldPLUS certification by the Building and Construction Authority of Singapore (BCA) or a Leadership in Energy and Environmental Design (LEED) Gold rating by the United States Green Building Council.
According to Andrew Lim, CFO of CapitaLand Group, CapitaLand’s continued efforts in sustainable finance shows its strong dedication to responsible growth.
With the latest SGD400 million ($281 million) in green loans, CapitaLand and its real estate investment trusts have raised in excess of SGD1.32 billion ($928 million) through sustainable finance.
“The funds will further underpin our sustainability efforts, creating better environmental, social, and governance (ESG) outcomes for the communities we operate in,” he added.
CapitaLand’s corporate offices across three locations in Singapore will be 100 per cent powered by renewable energy by the end of 2020.