ComfortDelGro, a Singapore-based transport operator, has secured a S$100m ($73.47m) green loan from DBS to decarbonise its UK bus fleet.  

The funds have been utilised to purchase 135 electric buses for Metroline, a wholly owned subsidiary of ComfortDelGro and a bus operator in London. 

Metroline’s newly acquired 77 double-deck and 58 single-deck electric buses will replace the same number of internal combustion engine-powered buses.  

This transition is expected to reduce tailpipe CO₂ emissions by approximately 9,900tpa.

The green loan is a component of ComfortDelGro’s larger plan to run half of its fleet of buses worldwide on greener energy by 2030, to reach 100% by 2050. 

ComfortDelGro MD and CEO Cheng Siak Kian 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.” 

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DBS MD and group head of shipping, aviation, logistics and transportation, institutional banking group Max Lim said: “Transportation is the lifeblood of any economy. However, it is also a significant contributor to 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.” 

Last month, a new funding platform was created by Rock Rail, the UK Infrastructure Bank, and insurer Aviva to finance zero-emission buses. 

The first transaction under the partnership involved the financing of 60 battery-electric buses, which will be leased to The Go-Ahead Group for operations across London.