City Developments Limited (CDL) has secured a new S$300 million multi-currency sustainability-linked loan (SLL) from DBS Bank to accelerate the adoption of nature-based urban development solutions, and support Singapore’s vision of becoming a “City in Nature”.

The loan will be used for general corporate funding and working capital purposes, including asset redevelopment and sustainability initiatives.

The new SLL was structured in line with Sustainability-Linked Loan Principles and introduces a comprehensive suite of sustainability performance targets focused on strengthening climate and nature resilience in urban systems.

Performance targets include scaling urban farming initiatives, establishing and/or expanding microforests with predominantly native species, enhancing stakeholder engagement on climate and nature, adopting circular materials in CDL's developments, and improving water efficiency.

Ms Yiong Yim Ming, Group Chief Financial Officer, CDL, said, “Since 2017, we have secured over S$11 billion in sustainable financing that supports our net zero ambitions while delivering long-term value through sustainable development. Sustainable financing is both a catalyst for growth and an important enabler in accelerating the transition towards a low-carbon and more climate-resilient future. This latest SLL reflects the next evolution of our sustainability journey, embedding measurable nature-based targets into our financing framework and further aligning our financial strategy with environmental outcomes. As a developer, real estate can play an important role in advancing climate action and shaping a greener, more resilient and more liveable urban environment.”

This latest facility marks the second SLL partnership between CDL and DBS, following their TNFD (Taskforce on Nature-related Financial Disclosures) targets-aligned SLL in 2024.