The targets include demonstrating continuous improvement in greenhouse gas emissions, electricity consumption, food waste, and solar energy generation, while maintaining green building certifications for Hongkong Land’s portfolio in Hong Kong’s central business district (CBD).
DBS Bank and property developer Hongkong Land has signed an agreement on August 28 to convert an existing five-year revolving credit facility of HK$1 billion ($176.2 million) on February into a sustainability-linked loan with the interest rate being indexed against environmental, social, and corporate governance (ESG) targets.
Hongkong Land, a member of the Jardine Group of companies, will be eligible to receive a tiered discount on the interest rate of the loan should it achieve pre-determined ESG targets agreed with DBS.
