CapitaLand plans to secure up to S$6bn (€3.8bn) in sustainable finance, making it the first real estate company in Singapore to set a public sustainable finance target.
The financing target – expected to be secured through sustainability-linked loans, green loans and green bonds under CapitaLand’s 2030 sustainability master plan – is triple the S$2bn sustainable finance CapitaLand has raised to date.
CapitaLand said that, as a result of sustainability practices, the group saved S$208m in utility charges in the decade to 2019.
Under its master-plan, Capitaland would aim for a 78% reduction in carbon emissions and would launch a new initiative, the CapitaLand Sustainability X Challenge, to accelerate sustainability innovation and collaboration.
Lee Chee Koon, CapitaLand Group’s CEO, said: “We will review our master-plan every two years to ensure that we remain on track as the group continues to grow and evolve. Investors and governments are increasingly incorporating ESG considerations into their investment and policy decisions.”
CapitaLand Group’s chief sustainability officer, Lynette Leong, said CapitaLand would implement a green lease programme globally, and work with customers to achieve sustainability outcomes.
To date, CapitaLand has 16 properties in Singapore, China, Belgium and India, along with four business parks in India that are fully or partially powered by renewable energy.
As of 31 December 2019, 97% of CapitaLand’s existing offices, malls, integrated developments and serviced residences in Singapore (by square metre) had achieved a green rating.
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