Singapore, China, 21 Aug 2024 - DBS, in partnership with Envision Energy, today announced an RMB 500 million (SGD 92 million) green loan facility to develop a 100-megawatt wind turbine farm in the Henan province, located in northeastern China. DBS China also served as the sole green finance advisor for this loan to ensure that the terms comply with the China-EU Common Ground Taxonomy. said: “The energy sector accounts for almost 90% of China’s greenhouse gas emissions . To achieve the nation’s carbon neutrality goal by 2060, the energy sector will need to undergo a rapid and deep transformation. DBS is proud to support Envision Energy, which has made a name for itself in the wind energy space, take a further step in that direction. With this carbon emission reduction support tool, the cost of capital for green projects is significantly reduced, making DBS a preferred partner for businesses seeking to invest in sustainable initiatives. As the first bank in Southeast Asia to transact under this PBOC programme, we are breaking new ground for sustainable finance in the region. We will continue to deepen our green finance toolkit, explore more innovative products and services, and expand our suite of capabilities to accelerate our clients’ green transformation.”[1] issued in the China Interbank Bond Market, accounting for more than 10% of the record RMB 140 billion market that year. It also underwrote the first green financial bond issued by a foreign bank in China.[1] Panda bonds are a common term for renminbi-denominated debt issued in China’s onshore market by non-Chinese companies, governments and organisations.
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About DBS World’s Best Bank ” by Global Finance, “World’s Best Bank ” by Euromoney and “Global Bank of the Year ” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank ” by Euromoney and the world’s “Most Innovative in Digital Banking ” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia “ award by Global Finance for 15 consecutive years from 2009 to 2023.www.dbs.com . 