Digital Edge Releases First Green Finance Framework
Energy efficiency, renewable energy, green buildings, and sustainable water and wastewater management are eligibility criteria for securing funding.
Digital Edge aims to achieve carbon neutrality by 2030.
Digital Edge, a Singapore-based data centre platform company, has published its first green finance framework to help it secure funding for its data centre projects.
The aim is to fund sustainable projects and help the company achieve carbon neutrality by 2030.
Green Financing Criteria
Each project has to meet the following four criteria to be eligible for green financing:
They should have a Power Usage Effectiveness (PUE) of 1.30 or lower in cooler climates and 1.40 or lower in warmer climates, indicating they are energy efficient.
Use renewable energy sources.
Project buildings designed to reduce environmental impact.
Sustainable water and wastewater management.
For example, the company's latest data centres are within the efficient range; they have a PUE of 1.25 and qualify for green financing under the framework.
Digital Edge’s CFO Jonathan Walbridge said, “The publication of green financing guidelines so early in our company’s evolution speaks to the importance of ESG commitments to our business. Against a backdrop of fast-moving technological advancements to support increasingly power-hungry AI deployments, this Framework is an important tool to help us align our financing activities with the pursuit of our sustainability agenda and ensure we can unlock cost-efficient capital."
The framework also has systems to monitor and report on outcomes, supervised by an internal committee and shared in the company's annual ESG report.
The company used its first green loan to fund a data centre in Seoul, the capital city of South Korea, which aligns with this framework.
To learn more about the green finance framework, click here.
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Source: Digital Edge
