31 July 2020
Mercatus Co-operative Limited (“Mercatus”) is pleased to announce that it has secured a S$128m green loan from DBS Bank to refinance an existing loan relating to one of its green buildings, Jurong Point.
This marks Mercatus’ second green financing, following its first green loan secured earlier in May 2020, under its newly launched Sustainable Finance Framework (“Framework”). Mercatus’ Sustainable Finance Framework is guided by the Green Loan Principles (2018 and further revised on 5 May 2020) and Sustainability Bond Guidelines (2018) by the Loan Market Association and the International Capital Market Association respectively. All of Mercatus’ commercial properties have attained BCA Green Mark certification, with Jurong Point achieving the BCA Green Mark Platinum rating in January this year.
Mercatus has identified several Sustainable Development Goals (“SDGs”) that are aligned to its sustainability strategy, including green buildings and leases, improving energy and water efficiencies, waste management, gender equality, health and safety, partnerships with the government and support for the community. The Framework is designed to support Mercatus’ contribution to the achievement of these SDGs, and provides the criteria and guidelines to pave the way forward for it to enter into more green or sustainable finance transactions in future.
In recognising that its actions have far-reaching impact on its stakeholders, Mercatus continues to takes a holistic and collaborative approach towards advancing sustainability causes that are meaningful to the communities in which it operates, its people and the environment.
Mr Ang Teck Wee, Managing Director and Head of Government-Linked Corporations, DBS Bank, said, “Green financing will be at the forefront of financing activities of the future, as environmental concerns become a more central focus for companies that want to leave a lasting and meaningful legacy. DBS is encouraged by Mercatus’ integrated approach to sustainability that not only provides social enterprises with access to commercial space but channels capital towards sustainable development through green loans. We look forward to supporting more companies like Mercatus in advancing their sustainability goals.”