The Singapore property developer will use the funds to finance or refinance the development, investment and acquisition of certified green buildings.
CapitaLand has secured two green loans to catalyze the greening of its global portfolio by 2030: a S$150 million four-year green loan from DBS Bank, and a S$250 million three-year multi-currency green loan from HSBC Bank.
This brings the total CapitaLand and its real estate investment trusts have raised in sustainable finance to more than S$1.32 billion and continues its partnership with DBS, following a S$300 million multi-currency sustainability-linked loan with the bank in 2018.
«Public and private capital are both needed to achieve Singapore’s sustainability goals and power the low-carbon transformation of economies. Green financing is a crucial interlocker to enable this transition,» Priya Kini, HSBC Singapore's head of global banking, said about the bank's first collaboration on sustainable finance with the firm.
Greening Portfolio
One of CapitaLand's properties, Logistech, was recently awarded the Building and Construction Authority's (BCA) Green Mark Platinum Super Low Energy certification, following a major upgrade that added rooftop solar panels to power the building, a water-cooled chiller plant to improve energy efficiency, and a smart facilities management system.
CapitaLand now has 16 properties in Singapore, China, Belgium, India and four business parks in India that are fully or partially powered by renewable energy.
In addition, the firm is targeting 100 percent renewable energy to power its corporate offices in Singapore by end-2020, leading to a savings of over 700 tonnes of carbon emissions per year, and hopes to achieve at least 20 percent energy consumption from renewable energy by 2025.
Future-Proofing
Lynette Leong, CapitaLand's chief sustainability officer said the firm's focus on sustainability «is about achieving leadership in the areas of ESG, while combating the negative impact of climate change» and help future-proof its properties.
The property developer is among a team working with BCA and the Singapore Green Building Council on the Singapore Green Building Masterplan 2020.
