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CapitaLand secures S$400 million in green loans to catalyse greening of global portfolio by 2030

Update: April, 21/2020 - 10:36

 

A CapitaLand Tower. CapitaLand Ltd has secured a total of S$400 million (US$281 million) in two bilateral green loans to catalyse greening of the group’s global portfolio by 2030. — VNS Photo

 HCM CITY — CapitaLand Ltd has secured a total of S$400 million (US$281 million) in two bilateral green loans to catalyse greening of the group’s global portfolio by 2030, the company has announced. 

The S$150 million ($105 million) four-year green loan is provided by DBS Bank Ltd (DBS), while the S$250 million($175 million) three-year multi-currency green loan is provided by The Hong Kong and Shanghai Banking Corporation Ltd – Singapore Branch (HSBC).

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 from the Building & Construction Authority of Singapore (BCA) or a Leadership in Energy and Environmental Design (LEED) Gold rating by the United States Green Building Council.

Andrew Lim, Group Chief Financial Officer, CapitaLand Group, said: “CapitaLand’s continued efforts in sustainable finance shows our strong dedication to responsible growth.  With the latest S$400 million in green loans, CapitaLand and our real estate investment trusts have raised in excess of S$1.32 billion ($927 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.”

CapitaLand’s corporate offices across three locations in Singapore will be 100 per cent powered by renewable energy by the end of 2020.  CapitaLand will avoid over 700 tonnes of carbon emissions each year, equivalent to carbon emissions from the electricity consumption of 400 four-room HDB flats in a year one. This furthers CapitaLand’s objective to achieve at least 20 per cent energy consumption from renewable energy by 2025.

CapitaLand will purchase Renewable Energy Certificates (REC) from the clean energy generated from over 21,000 solar panels installed atop CapitaLand’s six industrial properties in Singapore, held under Ascendas Reit.  

CapitaLand now has 16 properties in Singapore, China, Belgium, and India, and four business parks in India that are fully or partially powered by renewable energy. — VNS

 

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