Frasers Centrepoint Trust bags $419m green loan, carbon credits from OCBC
The loan will be used to accelerate Tampines 1’s journey to carbon neutrality amongst others.
Frasers Centrepoint Trust (FCT) secured a $419 million green loan and carbon credits from OCBC.
In a bourse filing, FCT said it will use the loan for “the refinancing of a maturing facility, asset enhancement initiatives, decarbonisation projects such as procurement of energy-efficient technology for Tampines 1 and other general corporate purposes.”
Meanwhile, FCT will invest the carbon credits it sourced through OCBC’s Emissions Trading Desk in Verra or Gold standard certified carbon reduction nature-based projects.
“The amount of carbon reduced will be equivalent to the financed emissions associated with the green loan,” FCT explained.
FCT will further purchase additional carbon credits to account for the residual and unavoidable Scopes 1 and 2 as well as energy-related Scope 3 emissions of Tampines 1’s carbon footprint.
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