Singapore’s Nanyang Technological University (NTU) has unveiled its 15-year sustainability plan, aiming to halve the campus' carbon emissions by 2035.
Along with its sustainability manifesto, NTU is establishing a $1 billion medium-term note, with OCBC Bank as sole arranger. The bank will also serve as the university’s ratings and sustainability structuring advisor.
Moody’s Investors Service has announced NTU’s credit rating of ‘Aaa’, the highest available, along with a baseline credit assessment of ‘aaa’. Moody’s has also issued a “stable” rating outlook for NTU.
“This programme, together with the Sustainability Framework, will give the University access to capital markets through the issuance of sustainability-linked bonds from time to time,” says NTU in a press release on Oct 11.
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NTU’s Sustainability Framework includes plans to achieve 100% Green Mark Platinum certification for all eligible buildings on the main campus and to halve NTU’s waste and net energy and water use by March 2026, compared to baseline levels in 2011.
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The university also outlined plans to establish a new sustainability office to coordinate and drive
sustainability efforts. Headed by Professor Madhavi Srinivasan of the School of Materials Science and Engineering, the office will report directly to the NTU President, Professor Subra Suresh.
In addition, seven multinational organisations have committed to become key partners of NTU’s
sustainability journey. They are: Applied Materials (US), Continental (Germany), Durapower (Singapore), HP (US), Hyundai (South Korea), Tata Consultancy Services (India) and the Alliance to End Plastic Waste, which is headquartered in Singapore.
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NTU Singapore is well-positioned to be a leader in sustainability, says Suresh. “What makes NTU stand out among its peers is that we have the confluence of infrastructure, technologies, partnerships and talent to help us realise our ambitions to ‘walk the walk’ in sustainability.”
“We will encourage and motivate current and future generations of students and staff to participate in our journey to address some of the most pressing global challenges. Our research, innovations and discoveries through interdisciplinary collaborations with industry and government will provide opportunities and solutions to tackle these challenges at scale,” adds Suresh.
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Tan Kee Phong, head of capital markets at OCBC Bank, says: “We are extremely honoured to support NTU on the latest milestone of their sustainability journey with the establishment of their medium-term note programme and the sustainability-linked bond framework.”
“The ability to issue SLBs and engage investors who share a similar vision on sustainable funding further illustrates NTU’s holistic approach to their new society-linked and climate objectives. This is another step forward in furthering the goals of the Singapore Green Plan 2030, paving the way for more organisations to use sustainable financing avenues to transit towards a climate-aligned economy,” he adds.
Photos: Nanyang Technological University
