Singaporean lender DBS and land transport firm ComfortDelGro Corporation (ComfortDelGro) have on Monday announced an SGD 100 million ($73 million) facility to decarbonize the global operator’s United Kingdom bus fleet.

ComfortDelGro said in a statement that the proceeds of the green loan were used for the purchase of 135 electric buses for ComfortDelGro’s wholly-owned subsidiary, Metroline – the fourth largest scheduled bus operator in London, covering about 17 percent of the city’s scheduled bus services.

According to the statement, the 77 double-deck and 58 single-deck electric buses will replace 135 internal combustion engine-powered buses and are projected to avoid approximately 9,900 tons of carbon dioxide (CO2) equivalent tailpipe emissions annually.

It is noted that the green loan is the latest in ComfortDelGro’s ongoing efforts to transition its global bus fleet to 50 percent cleaner energy vehicles by 2030 and 100 percent by 2050.

“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,” said Cheng Siak Kian, Managing Director/Group Chief Executive Officer of ComfortDelGro.

Max Lim, Managing Director and Group Head of Shipping, Aviation, Logistics and Transportation, Institutional Banking Group, DBS, said that 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 decarbonization efforts,

“We are pleased to be partnering ComfortDelGro as they accelerate their fleet transition,” he added.

ComfortDelGro is a multi-modal transport operator offering a comprehensive suite of transportation solutions.

The firm’s extensive network spans public transport including buses and rail, pointto-point transport with taxis and private hire cars as well as business-to-business mobility solutions.

The firm offers services across 12 countries including; Singapore, Australia, the United Kingdom, New Zealand, China, Ireland, France, Malaysia, Spain, Portugal, Greece, and the Netherlands.

With nearly half our fleet consisting of cleaner energy vehicles, the firm said it supports governments and cities in enabling inclusive and sustainable transport systems.

DBS is a financial services group in Asia with a presence in 19 markets.

Listed in Singapore, the firm is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia.

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