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Finance

ASEAN's largest banks go big on green real estate

Undaunted by Evergrande, lenders in Singapore, Malaysia embrace ESG loans

The South Beach mixed-use development in Singapore secured a five-year green loan worth SG$1.22 billion.   © City Development Limited and IOI Properties Group Berhad

SINGAPORE -- Southeast Asia's largest banks are rushing to finance building projects tied to sustainability, even as the world's most indebted property developer, China Evergrande, sends chills through the country's real estate sector.

The region's biggest names, including Singapore's DBS Group Holdings, Oversea-Chinese Banking Corp. and United Overseas Bank, as well as Malaysia's Malayan Banking, are jostling to support projects that incorporate environmental, social and governance objectives.

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