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CapitaLand Mall (CMT) is committed to achieving BCA Green Mark certification for all the company’s operational properties by 2020.
CapitaLand Mall Trust (CMT) has secured a $200 million, five-year green loan from OCBC Bank.
Its manager noted that the loan marked CMT’s first foray into green financing in which all proceeds will be used to finance or refinance properties in its portfolio with BCA Green Mark certification.
In support of the Green Building Masterplan of BCA, CMT is committed to achieving BCA Green Mark certification for all the company’s operational properties by 2020. In fact, 14 of its 15 properties are already certified BCA Green Mark Gold and above as at 31 August.
Its manager, on the other hand, has established a green loan framework that is guided by the green loan principles from the Asia Pacific Loan Market Association and the Loan Market Association.
“The green loan attests to CMT’s green initiatives and supports our efforts in creating a more sustainable environment. It allows us to diversify our funding sources, with the flexibility to deploy the proceeds to the majority of CMT’s properties that are already certified green,” said Tony Tan, CEO of the manager.
OCBC global corporate banking head Elaine Lam revealed that Singapore’s sustainable finance sector witnessed significant growth this year.
“In 2019, we have seen an exponential growth in the sustainable finance sector in Singapore, and we are now only entering the early phase of a trend which will persist for years to come. We are very excited by the prospects of the sector,” she said.
CMT is listed in various sustainability indices including the FTSE4Good ASEAN 5 Index, FTSE4Good Developed Index, iEdge ESG Transparency Index, iEdge ESG Leaders Index, Global ESG Governance Leaders and STOXX Global ESG Leaders.
It also topped the Asia ‘Retail – Listed’ category in the 2019 Global Real Estate Sustainability Benchmark (GRESB) Real Estate Assessment.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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