This is the bank’s first green loan that leverages the Building Energy Efficiency Assessment , the latest tool launched by the Building and Construction Authority of Singapore to predict the energy performance of buildings.
Clients will be able to make use of the BEEA online tool, which provides green assessments within minutes. Using the tool, property developers are required to provide information on air conditioning and mechanical ventilation systems and lighting, amongst others. Buildings account for over 20% of Singapore’s carbon emissions and the potential to encourage more building owners, developers and SMEs in the property sector to make the shift to sustainability is significant, according to OCBC.
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