The SFF is the initial framework in Asia-Pacific that defines an whole portfolio of properties as sustainable assets, employing the Global Real Estate Sustainability Benchmark (GRESB) ratings. It’s also the first framework for sustainability-linked bonds and loans in Asia-Pacific to emerge out of a real estate company.
Penrose Sims Drive, new GLS condo developed by CDL and HongLeong.
The capital raised under the SFF can be utilized to finance a green portfolio using a minimum of four-star GRESB rating. The company aims to achieve a five-star rating because of its new advancements and at least a four-star rating because of its current portfolio based on the GRESB. It also targets to be carbon-neutral in growth and operation from 2028.
The SFF follows an A$two billion ($1.86 billion) multicurrency debt issuance programme established on Feb 7 that year by Frasers Property AHL, a subsidiary of Frasers Property Australia.
Frasers Property says it has been actively tapping in to green financing because its very first green loan in September 2018 and encouraging the evolution of the green finance market in this area. Back in January this year, Frasers Property obtained the Asset Triple-A Sustainable Capital Markets Regional Awards 2019 — Finest Green Loan in Real Estate — because of the $750 million term loan using a A$500 million”green tranche” raised by its subsidiary, Frasers Property Treasury.