StorHub Self Storage Group, the largest self-storage operator in Asia Pacific, has launched its Group Sustainable Finance Framework and secured a S$406 million Sustainability-Linked Loan (SLL). This move, announced today, more than doubles its previous S$180 million SLL from 2023. The loan, arranged with CIMB Bank Berhad, Singapore Branch, Standard Chartered Bank (Singapore) Limited, and UOB, aims to integrate sustainability into StorHub’s financing strategy.
The Framework, developed with ERM, a global sustainability consultancy, outlines Key Performance Indicators (KPIs) and Sustainability Performance Targets (SPTs) that StorHub aims to achieve. These include reducing absolute Scope 1 and 2 greenhouse gas emissions and certifying occupational health and safety and information security management systems across its markets.
Raju Ruparelia, CEO of StorHub Group, emphasised the importance of sustainability in their growth strategy, stating, “Our Group Sustainable Finance Framework marks the natural step in that commitment, giving us a clear and credible pathway to reduce our environmental footprint.”
The SLL facility, which includes a S$150 million accordion option, will refinance existing debt and fund capital expenditure and asset enhancement initiatives. CIMB Singapore’s Head of Corporate and Investment Banking Coverage, Soh Wee Pheng, highlighted the bank’s commitment to responsible growth, whilst Standard Chartered’s Chow Wan Thonh and UOB’s Lim Lay Wah echoed the importance of sustainable finance in driving measurable outcomes.
StorHub’s sustainability efforts include 18 rooftop solar photovoltaic systems and 13 LEED-certified facilities, establishing the largest LEED-certified self-storage portfolio in Asia Pacific.
