GIC obtains A$295m green loan from DBS to refinance Chifley Tower Sydney

SINGAPORE state investor GIC has obtained a A$295 million (S$284.1 million) green loan from DBS to refinance Chifley Tower Sydney in Australia.

The facility is DBS’s first Australian dollar-denominated green loan, and is also one of the largest green loans extended by a Singapore lender in the Australia market, DBS said in a press statement on Wednesday (Jun 22).

The move comes as Chifley Tower Sydney attains a Green Star certification by the Green Building Council of Australia as well as a 5.5-Star Nabers energy rating.

The Green Star certification is an internationally recognised rating system for “healthy, resilient, positive buildings and places”. Meanwhile, Nabers is a national rating system measuring the environmental performance of Australian buildings and tenancies.

In 2021, the Singapore lender committed S$20.5 billion in sustainable financing transactions. This brings the bank’s cumulative efforts in this space to S$39.4 billion.