CapitaLand India Trust secures S$200 million sustainability-linked loan from International Finance Corporation

Increases CLINT's sustainable finance to 79% of its loans, demonstrating its commitment to Net Zero

Singapore, May 30, 2024 -- "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. The SLL from IFC not only reflects CLINT’s disciplined capital management, but also aims to build trust amongst our stakeholders by providing a credible measurement of our progress in decarbonisation. Guided by our sponsor CapitaLand Investment’s 2030 Sustainability Master Plan, CLINT is on track to fulfilling the requirements of the loan."

(L-R) CyberVale, Chennai, International Tech Park Chennai and aVance Pune are to obtain an Excellence in Design for Greater Efficiencies (EDGE) certification by 2026. They will also contribute towards the reduction of absolute greenhouse gas emissions by 40.5% from the baseline year of 2019 during the loan term.

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 and the largest development institution focused on the private sector in emerging markets. This increases CLINT’s sustainable finance to S$1.16 billion, which is 79%1 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.

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 31 December 2023 by 40.5% from the baseline year of 2019 during the 5-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.

Mr Sanjeev Dasgupta, Chief Executive Officer of CapitaLand India Trust Management Pte. Ltd. (the Trustee-Manager of CLINT)

Imad Fakhoury, Regional Director of IFC for South Asia, said: “We are pleased to support CLINT in their efforts to reduce GHG emissions from their business park portfolio. Our investment will support the decarbonisation of a portfolio of business parks through renewable energy and reduction in energy consumption, aligned with CLINT’s Net Zero targets. We expect the CLINT example to have a cascading positive impact on the sector, enabling the greening of operational, in-use buildings.”

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Note:

1. Assuming 100% drawndown basis.

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