Singapore Bank Accelerates the Greening of the UK’s Bus Fleet

Singapore’s largest banking group DBS and ComfortDelGro Corporation (ComfortDelGro) have announced an S$100 million facility to decarbonise the global operator’s UK bus fleet.

 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% of the city’s scheduled bus services.

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 tonnes of CO2 equivalent tailpipe emissions annually.

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

Max Lim, Managing Director and Group Head of Shipping, Aviation, Logistics and Transportation, Institutional Banking Group, DBS, said: “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 decarbonisation efforts. We are pleased to be partnering ComfortDelGro as they accelerate their fleet transition.”

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