The carbon credits, sourced through OCBC (SGX:O39
) ’s Emissions Trading Desk, will go towards investing in carbon reduction nature-based projects certified by Verra or Gold Standard.
The manager of Frasers Centrepoint Trust (SGX:J69U) (FCT) has partnered with Oversea-Chinese Banking Corporation (OCBC) on Singapore’s first green financing solution that comprises a green loan and carbon credits, announced the companies on July 6.
Proceeds from the $419 million green loan will be used to refinance a maturing facility, says FCT, along with asset enhancement initiatives, decarbonisation projects like procuring energy-efficient technology for Tampines 1 shopping mall and other general corporate purposes.
