A new asset class is gaining ground as investors turn socially and environmentally conscious
In one of its latest efforts to raise funds, Singaporean real estate developer City Developments Limited issued a green bond — a fixed income product with proceeds used to finance projects or activities that help the environment.
“Green financing offers us an alternative financing stream. There is an increased interest in socially responsible investments and a growing demand for relevant products,” Sherman Kwek, CDL’s deputy chief executive, said in a statement earlier this month.
The company’s issuance, which raised 100 million Singapore dollars ($71.1 million), is the first in Singapore as the Southeast Asian city state seeks to grow its marketplace for sustainability-oriented investments.