CDL secures $400m TNFD targets-aligned sustainability-linked loan from DBS

The SGX-listed builder has now secured over $8b in sustainable loans since 2017.

Developer City Developments Limited (CDL) has secured a $400m sustainability-linked financing from DBS Bank, with nature conservation targets that are aligned with the Taskforce on Nature-related Financial Disclosures’ (TNFD) recommendations.

The transaction marks a first for both companies’ sustainable finance journey as the loan criteria include a set of ambitious performance targets set by CDL in its adoption of the TNFD recommendations, according to the firms’ joint announcement Tuesday.

The scheme incentivises CDL’s ongoing efforts to reach major environmental, social, and governance (ESG) milestones. Proceeds of the financing will be used for general corporate funding and working capital purposes, including the redevelopment of CDL’s existing assets.

CDL has now secured over $8b in sustainable financing since 2017. The latest loan adds to the string of green financing extended by DBS to CDL over the past years, including CDL’s first green bond in 2017 as well as its first sustainability-linked loan in 2019.

The developer said it was the first company in the city-state to publish TNFD-aligned disclosures in its latest Integrated Sustainability Report 2024.

“We believe that robust sustainability reporting can channel capital to expedite green building and climate action.

Follow the link s for more news on

City Developments Limited

DBS

green loan

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia