International operator ComfortDelGro Corporation (CDG), alongside DBS, has announced a roughly $112 million facility to decarbonise the global operator’s UK bus fleet.
The green loan will fund a new facility and the purchase of electric buses for London operator Metroline.
The 135 new electric buses will be provided to the CDG subsidiary that covers roughly 17 per cent of the city’s scheduled bus services.
The 77 double-decker and 58 single-decker electric buses will replace 135 diesel models and are projected to avoid approximately 9,900 tonnes of carbon dioxide equivalent emissions annually.
The green loan is the latest in CDG’s ongoing efforts to transition its global bus fleet to 50 per cent cleaner energy vehicles by 2030 and to 100 per cent zero-emissions vehicles by 2050.
“As a leading multi-modal transport operator, we are keen to drive sustainability through the businesses we operate,” CDG managing director and group CEO Cheng Siak Kian says.
“This green loan from DBS enables us to advance our sustainability goals, driving positive impact for the environment and the communities we serve.”
DBS managing director and group head of shipping, aviation, logistics and transport Max Lim says transport is the lifeblood of any economy.
“However, it’s also a significant contributor of greenhouse gas emissions,” Lim says.
“As a purpose-driven bank, DBS is committed to working with our clients to support their decarbonisation efforts. We are pleased to be partnering with ComfortDelGro as it accelerates its fleet transition.”