Singapore, 29 March 2022 – The Singapore University of Technology and Design (SUTD) has secured a 20-year SGD 84 million green loan from DBS to fund its campus land costs. This is the university’s first green loan. DBS is also the Green Loan Advisor for SUTD’s Green Loan Framework, which outlines criteria and guidelines for allocating and managing green loan proceeds.
Ang Teck Wee, Head of Government Linked Companies, DBS, said, “Supporting the education sector’s transition to a low-carbon future is important because it is the very foundation that shapes the way our children, our youth and future generations see sustainability. Addressing climate change is an urgent imperative, and providing funding to support green structures such as the SUTD campus is one of the many steps needed to achieve a climate-aligned future together. the long term.”
Giselia Giam, SUTD’s Vice President of Administration and Chief Financial Officer, said, “SUTD is delighted to partner with DBS on our first green loan to help realize SUTD’s multi-faceted sustainability plan – using design thinking and technology to build a more sustainable and happier environment. world by design. Together, we have also developed a Green Lending Framework that will guide our efforts as we transform our campus into a living laboratory for new sustainable technologies, processes and products, making the SUTD campus a green enabler for Singapore.
The green loan will be used to realize and fund SUTD’s sustainability plan launched in December 2021, which aims to achieve the university’s mission of “A Better World By Design”. SUTD’s state-of-the-art green campus won the SG Mark Gold award in 2016 and achieved Green Mark (Platinum) certification from the Building Construction Authority (BCA) of Singapore. The SUTD campus uses the principles of natural ventilation as well as cooling techniques to counter the conditions of Singapore’s tropical climate. With the incorporation of facade planters, green roof terraces, overhead gardens, and green pockets planted with native trees and flowering plants, the overall campus design responds to Singapore’s natural landscape. In addition, SUTD is committed to meeting or exceeding Singapore’s Green Plan targets for carbon, energy, water and waste emissions by initiating new green research, testing new technologies and integrating sustainability into education and culture.
DBS’ sustainability efforts
The SUTD Green Loan aligns with collective efforts under the Singapore Green Plan 2030, which is a national movement to advance Singapore’s national sustainability agenda and work towards a net zero future. It is also part of DBS’s broader efforts to provide sustainable financing to more companies to support their transformations towards a low-carbon future. As a testament to its efforts, DBS has committed a total of SGD20.5 billion to sustainable finance transactions in 2021, bringing the bank’s cumulative efforts to SGD39.4 billion – reaching almost 80% of the target of sustainable bank financing of SGD 50 billion by 2024.
The bank is also on track to achieve its goal of net zero operational carbon emissions in Singapore by 2022. In July 2021, the bank announced that its four-storey office building in Newton would be converted into a property net zero with climatic effects. user-friendly features – the first by a bank in Singapore.
DBS is a leading financial services group in Asia, present in 18 markets. Headquartered and listed in Singapore, DBS is present in all three major Asian growth areas: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognized for its global leadership, DBS has been named “The best bank in the world” by Euromoney, “World Bank of the Year“by The Banker and”best bank in the worldby Global Finance. The bank is at the forefront of using digital technology to shape the future of banking, having been named “The best digital bank in the world“by Euromoney and the world”The most innovative in digital bankingby The Banker. Additionally, DBS was granted the “Asia’s Safest Bank” Award by Global Finance for 13 consecutive years from 2009 to 2021.
DBS offers a full range of services in the field of personal, SME and corporate banking. As a bank born and raised in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with its customers and positively impacting communities by supporting social enterprises, as it does its banking the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and a focus on engaging and empowering its people, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
The Singapore University of Technology and Design (SUTD) is one of the first universities in the world to integrate the art and science of design and technology into a truly holistic interdisciplinary teaching and research experience that culminates to real design innovations. SUTD seeks to advance knowledge and nurture technically grounded leaders and innovators to meet the needs of society. SUTD also topped a list of emerging engineering schools around the world in a study commissioned by MIT.
A research-intensive university, SUTD is distinguished by its unique East and West academic programs that incorporate design thinking, human-centered innovation, entrepreneurship, coupled with local and international industry collaborations. SUTD’s main focus areas are health, cities and aviation, with artificial intelligence/data science and digital manufacturing capabilities in each. Several postgraduate opportunities are available. Competency-based vocational education and training courses are also available at SUTD Academy. www.sutd.edu.sg