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CDL and DBS launch S$300 million multi-currency sustainability-linked loan to advance nature-based urban development solutions in Singapore

  • Sustainability performance targets include urban farming, biodiversity conservation, circularity solutions and water efficiency goals
  • Marks the second sustainability-linked loan (SLL) partnership between CDL and DBS, following the pioneering TNFD targets-aligned SLL issued in 2024
  • S$300 million multi-currency SLL to be used for general corporate funding and working capital purposes, including asset redevelopment and sustainability initiatives
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Sustainability performance targets for the new SLL 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.

Press Release15 May 2026

Singapore, 15 May 2026 – City Developments Limited (CDL) has secured a new S$300 million multi-currency sustainability-linked loan (SLL) provided by DBS Bank (DBS), reinforcing its commitment to accelerate the adoption of nature-based solutions and supporting Singapore’s transformation into a City in Nature. This facility builds on CDL’s first-of-its-kind Taskforce on Nature-related Financial Disclosures (TNFD) targets-aligned SLL, launched in 2024, marking a significant step toward further integrating biodiversity and ecosystem considerations into corporate finance.

This 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 which is in line with supporting Singapore’s Green Plan 2030. 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.”

Mr Chew Chong Lim, Group Head of Real Estate, Institutional Banking Group, DBS, said, “At DBS, we believe the real estate sector plays a critical role in building a more sustainable future and it is our responsibility to help clients achieve this important work. We are honoured to deepen our partnership with CDL as they continue advancing nature-based solutions in urban development. This latest facility demonstrates how industry expertise, structuring capabilities and sustainability knowledge can come together in the form of financing to enable more resilient urban spaces to benefit businesses, communities and the environment.”

Embedding Nature-Based Outcomes into Sustainable Finance

This latest SLL collaboration builds on the long-standing sustainable finance partnership between CDL and DBS in advancing Singapore’s sustainability agenda. The partnership has achieved several sustainability financing milestones in Singapore. In 2024, CDL secured the first TNFD targets-aligned SLL with DBS. DBS also supported CDL’s landmark green bond issuance in 2017 – the first by a Singapore company – as well as Singapore’s first Sustainable Development Goals (SDG) Innovation loan in 2019 to pilot DigiHUB, an in-house digital platform to enhance building management efficiency. DBS is also the financial partner for CDL’s SME Supplier Queen Bee Programme, which supports SMEs in decarbonising and managing their Scope 3 emissions through enhanced carbon accounting and reporting. 

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