In March, CDL became the first company in Singapore to publish TNFD-aligned disclosures. CDL’s latest sustainability report includes TNFD disclosures aligned with Target 15 of the Kunming-Montreal Global Biodiversity Framework, which was adopted in December 2022 at COP15.
City Developments Limited (CDL) (SGX:C09
) has secured a $400 million sustainability-linked loan (SLL) from DBS Bank (SGX:D05) , with nature conservation targets aligned with the Taskforce on Nature-related Financial Disclosures’ (TNFD) recommendations.
The SLL is the first of its kind and incorporates specific performance targets related to biodiversity conservation, waste management and water efficiency. According to a June 25 announcement, the proceeds will be used for general corporate funding and working capital purposes, including the redevelopment of CDL’s existing assets.
