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Property developer Ayala Land Inc. raised P20.5 billion from its pioneering sustainability-linked financing program.
The initiative marks a first for the Philippine real estate sector, adhering to international guidelines and independently verified by Det Norske Veritas.The interest rates on the IFC bonds are linked to ALI’s performance on key sustainability metrics, including a 42-percent reduction in emissions from malls, offices and hotels by 2030 and achieving EDGE Zero Carbon certification for 1.5 million square meters of office properties by 2025.
The loan, which will be drawn in up to four tranches, supports ALI’s decarbonization efforts and green building initiatives.
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