This project is certified by Verified Carbon Standard Programme, the world’s most widely-used greenhouse gas (GHG) crediting programme administered by Verra.
OUE REIT made its first interest rate swap with a set of voluntary carbon credits with OCBC, sourced by the OCBC’s Emissions Trading Desk.
The $75 million structured derivative transaction enables OUE (SGX:LJ3
) REIT to hedge against interest rate risks. As part of the transaction, OUE REIT received a fixed amount of high-integrity voluntary carbon credits (VCCs) that will contribute towards investing in a carbon reduction nature-based project in the Southeast Asia region.
