Nature-Based Finance Deals
CDL Secured Its $300M Sustainability-Linked Loan With DBS
Adam Harrie — May 19, 2026
City Developments Limited secured a $300 million sustainability-linked loan from DBS, with performance targets tied to urban farming, microforest expansion using native species, circular materials and water efficiency, not just carbon. The nature-based urban sustainability finance facility builds on CDL’s 2024 TNFD-aligned loan, the first in the world structured around nature-related financial disclosure targets, and falls within Singapore’s Green Plan 2030 framework.
CDL has now raised more than SGD 11 billion in sustainable financing since 2017, including Singapore’s first green bond and first SDG Innovation loan.
As real estate developers face pressure to move beyond carbon metrics toward greater accountability, CDL and DBS show how tying loan terms to measurable biodiversity outcomes can turn nature-based commitments into something banks can directly measure and track.
