ONE of Asia’s largest real estate companies CapitaLand has secured a total of S$400 million (US$284 million) in two bilateral green loans to catalyze greening of the group’s global portfolio by 2030.
The loans consisted of a S$150 million four-year green loan facility provided by DBS and S$250 million three-year multi-currency green loan extended by HSBC Singapore.
As part of its efforts to push boundaries in greening its global portfolio, CapitaLand has been awarded Building & Construction Authority of Singapore’s (BCA) Green Mark Platinum ‘Super Low Energy (SLE)’ certification for LogisTech. LogisTech is the first logistics building in Singapore to achieve this recognition.
CapitaLand’s corporate offices across three locations in Singapore will also be 100% powered by renewable energy by end 2020. The company 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. This furthers CapitaLand’s objective to achieve at least 20% energy consumption from renewable energy by 2025.
CapitaLand group CFO Andrew Lim says that with the latest S$400 million in green loans, CapitaLand and its real estate investment trusts have raised in excess of S$1.32 billion 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 points out.
CapitaLand chief sustainability officer Lynette Leong adds: “CapitaLand’s focus on sustainability is about achieving leadership in the areas of ESG, while combating the negative impact of climate change. Our green loans, attaining the first BCA’s SLE certification for logistic buildings and using 100% renewable energy to power CapitaLand’s corporate offices are some of the ways in which we are extending the frontiers in sustainable finance, innovation and future-proofing our properties. These actions also dovetail with our aim to contribute to Singapore’s goal to half 2030 peak greenhouse gas emissions by 2050 and achieving net zero emissions, as soon as viable in the second half of the century.”
