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ComfortDelGro secures $100 mil green loan from DBS for the greening of its UK bus fleet

Proceeds of the facility were used to buy 135 electric buses – 77 double-deck and 58 single-deck buses.

ComfortDelGro (CDG) has secured a $100 million green loan from DBS to decarbonise its UK bus fleet.

Proceeds of the facility were used to buy 135 electric buses – 77 double-deck and 58 single-deck buses – for CDG’s wholly-owned subsidiary, Metroline. The buses will replace 135 internal combustion engine-powered buses and are projected to avoid about 9,900 tonnes of carbon dioxide equivalent tailpipe emissions annually.

The green loan is the latest in the transport operator’s efforts to transition its global bus fleet to 50% cleaner energy vehicles by 2030 and 100% by 2050.

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“As a leading multi-modal transport operator, we are keen to drive sustainability through the businesses we operate. This green loan from DBS enables us to advance our sustainability goals, driving positive impact for the environment and the communities we serve,” says Cheng Siak Kian, managing director and group CEO of CDG.

“Transportation is the lifeblood of any economy. However, it is also a significant contributor of greenhouse gas emissions. As a purpose-driven bank, DBS is committed to working with our clients to support their decarbonisation efforts. We are pleased to be partnering ComfortDelGro C52 as they accelerate their fleet transition,” adds Max Lim, managing director and group head of shipping, aviation, logistics and transportation at DBS’s institutional banking group.

As at 10.52am, shares in CDG are trading 3 cents higher or 2.07% up at $1.48.

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