City Developments Limited’s Post

DBS Bank is honoured to be working with our long-time partner, Keppel Ltd. to accelerate their sustainability agenda. We are one of two banks involved in a landmark deal providing $1 billion of revolving credit facilities to finance various sustainability-related activities. The deal falls under Keppel’s innovative Sustainability-Linked Financing Framework, which the Group launched yesterday. This strategic framework, co-developed through joint environmental, social, and governance (ESG) advisory, isn't just a financial blueprint; it's a roadmap to a greener future. It's meticulously crafted, featuring rigorous Key Performance Indicators (KPIs) and Sustainability Performance Targets (SPTs) that Keppel is committed to achieving. The framework goes beyond traditional financial metrics, focusing on significant environmental impacts. It aims to slash Keppel’s absolute Scope 1 and 2 carbon emissions by an ambitious 50% and to expand their renewable energy portfolio to a towering 7GW by the end of 2030, leading a transformation in industry practices towards more environmentally responsible operations. Tan Su Shan, Group Head of Institutional Banking at DBS, emphasises the critical role of the private sector in spearheading global energy transitions. “Engaged businesses like Keppel illustrate the power of sustainability commitment in driving collective action. This commitment by Keppel, backed by clear and transparent targets, streamlines collaboration with investors and banks, paving the way for substantial, long-term impacts through sustainable financing solutions.” This partnership exemplifies how strategic financial planning and a dedication to sustainability can converge to create a lasting, positive impact on our planet. Find out more: https://go.dbs.com/3u87r09 #Keppel #DBS #LeadingWithDBS #DifferentKindOfBank #Sustainability #RenewableEnergy #GreenFinance #SustainableDevelopment #CorporateResponsibility #Singapore

💼 Since 2022, #SPIE has been revolutionising its financing by linking its loans to sustainable development criteria, with the support of 13 major banks, including Crédit Agricole CIB. This innovative initiative encourages the achievement of CSR objectives, creating an economic incentive for sustainability. Pascale Forde Maurice tells us more about the implementation of this virtuous mechanism for a more sustainable finance. 🌱 #SustainableFinance #ESG #CSR More info: https://ow.ly/HjTB50Quw78

Empowering Sustainable Futures through Carbon Credits at DBS At DBS, we are deeply committed to supporting and advancing the carbon credit market. DBS trades carbon credits and facilitate their distribution through our innovative banking app. meng yuen wang, Executive Director, part of the sustainability team at DBS Institutional Bank, shed some light on the evolving carbon markets and DBS' commitments in the recent Argus Carbon Asia Conference 2024. "First Phase of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) from 2024 marks a significant step forward. This initiative mandates the use of Article 6 credits to offset surplus emissions in the aviation sector vs 2019 baselines. Countries such as Japan, South Korea, Thailand, and Singapore are also leading the way by developing frameworks to use international carbon credits to meet their Nationally Determined Contributions (NDCs). These two trends, signals a promising convergence of voluntary and compliance carbon markets." says Meng Yuen. For debt lenders like DBS, this is particularly positive. A clearer future price and volume of carbon credits will enable us to size debt appropriately, funding the development of vital projects with greater confidence. However, patience is key as these market evolutions will take time to fully materialise. Participants in the carbon markets should stay informed on developments from key geographies and standards, and to position themselves strategically for the future, will enable us to make meaningful progress towards a sustainable world. #DBS #CarbonCredits #Sustainability #CIX #ClimateAction #CORSIA #ICVCM #VCMI #GreenFinance #SustainableBanking #CarbonMarkets #FutureOfFinance #NDCs

🌎The first quarter of 2023 offered promising signs of a rebound. For instance, #greenbonds were up 19.4% YoY, though social and #sustainabilitybonds continued to struggle, reports Bloomberg. 🍃BNP Paribas predicts green bond issuance could reach $600 billion in 2023—compared with about $500 billion in 2021—with #Europe leading the way. 💸All in all, signals are positive; with this, as a preamble, Global Finance Magazine has shortlisted "Sustainable Finance Awards-2023"; here are the winners who have taken the global honorees in 13 categories- 🚀Outstanding Leadership in Sustainable #Finance 🍀Standard Chartered Bank 🚀Outstanding Financial Leadership in Sustaining Communities 🍀BBVA 🚀Outstanding Leadership in Sustainability Transparency 🍀Scotiabank 🚀Outstanding Leadership in Sustainable Infrastructure Finance 🍀CIBC 🚀Outstanding Leadership in Sustainable Project Finance 🍀Societe Generale 🚀Outstanding Sustainable Financing in Emerging Markets 🍀Societe Generale 🚀Outstanding Leadership in Sustainable Finance by a Multilateral Institution 🍀IFC - International Finance Corporation 🚀Outstanding Leadership in Green Bonds 🍀Bank of America 🚀Outstanding Leadership in Social Bonds 🍀Citi 🚀Outstanding Leadership in Sustainability Bonds 🍀ING Outstanding Leadership in Transition/#Sustainability-Linked Bonds 🍀Bank of America 🚀Outstanding Leadership in #ESG-Related Loans 🍀CaixaBank 🚀Outstanding Leadership in Transition/Sustainability-Linked Loans 🍀Citi > https://lnkd.in/dD9uQYyF #esg #esgreporting #sustainability #sustainabilitymatters #sustainablefinance #sustainabledevelopment #sustainabilitygoals #finance #greenfinance

DBS is proud to announce DBS's issuance of a SGD400 million landmark sustainability-linked loan to City Developments Limited (CDL) to advance nature conservation and sustainable development in Singapore. The loan is the first-of-its-kind, with criteria guided by the ambitious targets set by CDL in their adoption of the Taskforce on Nature-related Financial Disclosures (TNFD) Recommendations and will be used for general corporate funding and working capital purposes, which includes the redevelopment of CDL’s existing assets. The partnership with CDL is the latest in DBS’ ongoing commitment towards scaling up sustainable financing. Chong Lim Chew, Group Head of Real Estate, Institutional Banking Group, DBS, said: “As a purpose-driven bank, DBS is proud to work with CDL, one of the first Singapore companies to be on the list of TNFD adopters and the first in Singapore to publish TNFD-aligned disclosures. As the importance of biodiversity and ecosystem preservation grows, it is essential that we integrate these considerations into our financial solutions. This first-of-its-kind sustainability-linked loan, aligned with CDL’s TNFD-related targets, demonstrates our commitment to exploring new frontiers in the ESG space, and helping to build a future where economic growth and ecological stewardship go hand in hand." Find out more about DBS sustainability efforts and solutions here: https://go.dbs.com/3U38LKP #DBS #leadingwithDBS #DifferentKindofBank #SustainableFinance #Sustainability #ESG #Decarbonisation #GreenFinancing #CityDevelopments

If you’re running a company to generate profit, why wouldn’t you want it to be sustainable! If your sustainable profitability can make your world more livable, why wouldn’t you raise and repay finances, just so! And that is why I dream that one day all loans in the world are some way or the other sustainability-linked financing! #greenfinance #greenbonds #sustainablefinance #impactfinancing

🌱As members of the Sustainable Banking and Finance Network (SBFN), we are delighted to share the unveiling of the 2024 Global Progress Brief and the launch of the innovative SBFN Data Portal! ✅The 2024 Global Progress Brief highlights key achievements, challenges, and opportunities within the SBFN community, across three pillars of sustainable finance: Environmental, Social, and Governance (ESG) Integration, Climate and Nature-Related Risk Management, and Financing Sustainability. 🌏SBFN members are rapidly turning policy development into action by creating new markets for sustainable finance: 45 SBFN countries have issued an impressive US$ 759 billion in thematic bonds as of 2023! 📍The new SBFN Data Portal is a dynamic tool designed to track #SustainableFinance initiatives and to facilitate consistent monitoring and benchmarking across countries, regions, and indicators. The platform will foster cross-learning, speeding up our collective journey toward more sustainable financial systems. 🇲🇳At Mongolian Sustainable Finance Association, we take pride in our achievements with support #SBFN and #IFC, and eagerly anticipate further progress through peer-to-peer learning and collective action. To learn more, click on the links below: 📊 SBFN Data Portal: https://lnkd.in/d-jWv2kV  📗 2024 Global Progress Brief: https://lnkd.in/dmveQC2G Join us as we shape the future of sustainable finance, driving positive change in emerging markets! #SustainableFinance #SBFN #SBFNSustainableFinance #Climate #ESG

Great to connect with others in #sustainablefinance at the #lma sustainable finance conference last week. My key takeaways: volumes of #sustainability linked loans were down in Europe this year. Why? Geopolitical factors, regulatory scrutiny, challenges in setting appropriate key performance indicators and targets, among other things. But there is appetite among borrowers and lenders to use loan finance to support the sustainability agenda. Strong regulatory frameworks, tighter documentation standards and more scrutiny of the external review process will help the market to develop. #sustainablefinancing

🌿 Why is Sustainability-Linked Finance Gaining Momentum? 🌍 🌱 Sustainability-linked finance, pioneered by multilateral development banks, is tailored to reward borrowers for hitting environmental, social, or governance milestones. Since its inception in 2017, this financing model has seen explosive growth, with the IFC - International Finance Corporation (IFC) spearheading efforts to mesh financial incentives with sustainability goals. The popularity of Sustainability-Linked Loans (SLL) is on the rise, even within mainstream commercial banks, sparking borrower curiosity. 💼The Sustainability-Linked Loan Principles (SLLP) were first issued in 2019 and provide a framework which was revised in 2021 to provide a clear delineation between the selection of key performance indicators (KPIs) and the calibration of sustainability performance targets (SPTs). 🏨 In 2022, Singapore’s CapitaLand Ascott Trust teamed up with the IFC to unveil the first sustainability-linked bond in the hospitality industry. Funds raised are set to reduce electricity use by 40.5% across three of CLAS's serviced residences in Southeast Asia by December 31, 2028. One of their conditions was obtaining #edgebuildings certification within the same period. 🥅SLLs have not only increased in volume but also attracted scrutiny on their structure, especially amid concerns around "greenwashing". But by establishing ambitious and impactful targets alongside relevant and clear KPIs, SLLs will continue to align "profits with planet". 📰Read more about the power of loans to reach sustainability targets and much more on the EDGE website: https://ow.ly/U4V850Rwg3r #edgeiseverywhere #greenbuildings #sustainableconstruction #zerocarbon #sustainablehospitality

Building Global Green Banking Structures: Towards Sustainable Financing and Regulation In response to the urgent need for environmentally sustainable practices in finance, the establishment of global green banking structures and regulations (RehGid) represents a crucial step towards fostering sustainable development and combating climate change. These structures encompass a range of initiatives aimed at aligning banking practices with environmental goals, such as investing in renewable energy projects, supporting sustainable agriculture, and financing green infrastructure. By incorporating environmental criteria into lending decisions and investment portfolios, green banks can drive capital towards environmentally beneficial projects while mitigating the risks associated with climate change. Moreover, RehGid provides a regulatory framework to ensure consistency and accountability in green banking practices across jurisdictions. By setting standards for transparency, disclosure, and reporting, regulatory authorities can promote the adoption of sustainable finance principles and enhance market integrity. Through collaboration and knowledge sharing among stakeholders, including governments, financial institutions, and civil society organizations, global green banking structures can catalyze the transition towards a low-carbon and resilient economy. By leveraging the power of finance to support environmental sustainability, we can pave the way for a more equitable and prosperous future for generations to come. #GreenBanking #SustainableFinance #ClimateAction #EnvironmentalSustainability #GlobalRegulations #FinanceForFuture #GreenInvesting #ClimateFinance #RegulatoryFrameworks #SustainableDevelopment #FinanceForChange #GreenEconomy #ClimateResilience #BankingForEnvironment #GlobalCollaboration #RenewableEnergy #CarbonNeutral #EcoFriendlyBanking #RegulatoryStandards #FinanceForClimate