Tuesday, June 25, 2024
HomeNewsTop NewsCLINT secures S$200 million sustainability-linked loan from IFC

CLINT secures S$200 million sustainability-linked loan from IFC

CapitaLand India Trust (CLINT) has secured a sustainability-linked loan (SLL) of S$200 million from the International Finance Corporation (IFC), a member of the World Bank Group.

This increases CLINT’s sustainable finance to S$1.16 billion, which is 79% of its total loans. The SLL will be used to re-finance CLINT’s existing revolving credit facilities (RCFs). It will unlock additional availability of the RCFs, reduce CLINT’s finance cost and further diversify its funding sources.

Sanjeev Dasgupta, chief executive officer of CapitaLand India Trust Management, the trustee-manager of CLINT said, “Tying our sustainability performance with our financing demonstrates CLINT’s commitment to responsible growth, as we work towards achieving net zero carbon emissions for Scope 1 and 2 by 2050.”

CLINT has selected two key performance indicators (KPIs) for this SLL. KPI 1 is to reduce the absolute greenhouse gas (GHG) emissions of its IT business park portfolio as at December 31, 2023 by 40.5% from the baseline year of 2019 during the five-year loan term.

KPI 2 is to obtain excellence in design for greater efficiencies (EDGE) certification for three selected IT business parks ‒ International Tech Park Chennai, CyberVale, and aVance Pune, by 2026.

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