Founded on our ethos of ‘Conserving as we Construct’ since 1995, CDL has integrated sustainability into our business and operations to create lasting value for our business, investors, stakeholders and the environment. As a developer, asset owner and corporate citizen, CDL adopts a three-pronged strategy of developing sustainable and green buildings; managing buildings in an energy and resource-efficient way; and engaging stakeholders to support CDL’s commitment to sustainability.
As part of our commitment to sustainable development, CDL has issued our first green bond, which is also the first green bond by a Singapore company. The two-year senior secured green bond has raised S$100 million at 1.98% fixed rate due 2019. This enables CDL to tap the fast-growing demand for socially responsible investment products like green bonds, which is fuelled by the Paris Climate Change Agreement that took effect on 4 November 2016. Singapore has since ratified the Paris Agreement and pledged to reduce its carbon emissions intensity by 36% from 2005 levels by 2030 as well as stabilise its emissions with the aim of peaking around 2030. More investors are seeking to fund low-carbon and climate-resilient projects that are aligned with the goal of limiting global warming to below two degrees Celsius.
The success of CDL’s inaugural green bond issuance paves the way for other Singapore firms to finance climate-resilient projects and sustainability initiatives through green financing.