BENGALURU - Singapore’s Keppel said on Jan 23 that it has launched a sustainability-linked financing framework and has secured a total of $1 billion of sustainability-linked revolving loans from DBS Bank and United Overseas Bank.

The framework spells out the key performance indicators and sustainability performance targets that the company aims to achieve. These targets include a reduction in Keppel’s absolute scope 1 and 2 carbon emissions by 50 per cent by 2030, compared to the 2020 baseline.

The company also aims to “increase (its) portfolio of renewable energy assets, including renewable energy imports, to 7 gigawatts (GW) by 2030, compared with the 2020 baseline which was not significant,” it said.

It additionally projected an interim target of 4.9 GW of renewable energy assets by the end of 2027.

In conjunction with the framework, Keppel entered into sustainability-linked revolving credit facilities with DBS and United Overseas Bank of $500 million each, with tenures of up to three years. REUTERS