StorHub Self Storage Group ("StorHub"), the largest multi-country self storage owner and operator in Asia Pacific, today announced the launch of its Group Sustainable Finance Framework ("Framework"), further integrating sustainability into the Company's financing strategy.
Developed with the support of ERM, a global sustainability consultancy, the Framework sets out Key Performance Indicators (“KPIs”) and Sustainability Performance Targets (“SPTs”) that StorHub aims to achieve, with StorHub's sustainability-linked financing connected to its achievement of certain SPTs.
The Framework is aligned with international sustainability-linked financing principles, including the Sustainability-Linked Loan Principles of the Loan Market Association, Loan Syndications and Trading Association and Asia Pacific Loan Market Association, and has received a Second-Party Opinion from Sustainable Fitch. It sets out KPIs and SPTs relevant to StorHub's sustainability strategy, committing StorHub to reduce absolute Scope 1 and 2 greenhouse gas (“GHG”) emissions, and to certify its occupational health and safety and information security management systems across its operating markets.
In conjunction with the launch of the Framework, StorHub has secured a S$406 million Sustainability Linked Loan (“SLL”) aligned with the Framework’s KPIs and SPTs. The four-year facility, which includes a S$150 million accordion option, more than doubles StorHub's inaugural S$180 million SLL facility in 2023, and will refinance existing debt while funding capital expenditure and asset enhancement initiatives across the Group's regional portfolio.
Raju Ruparelia, CEO, StorHub Group, commented: "As a leading self-storage platform in Asia Pacific, we firmly believe that growth and sustainability go hand in hand. Our Group Sustainable Finance Framework marks the natural step in that commitment, giving us a clear and credible pathway to reduce our environmental footprint and raise safety and security standards across our operating markets. Our finance partners' support for our second SLL reflects their trust in that approach, and reinforces our belief that sustainability is central to how we build durable, trusted growth for our customers, our people, and the communities we operate in."
The SLL facility was arranged with CIMB Bank Berhad, Singapore Branch (CIMB Singapore), Standard Chartered Bank (Singapore) Limited and UOB acting as Sustainability Advisors and Coordinators, and with CIMB Singapore also acting as Agent.
Soh Wee Pheng, Head of Corporate and Investment Banking Coverage, CIMB Singapore, said: “We are pleased to deepen our partnership with StorHub through this Sustainability-Linked Loan, following our support for StorHub’s inaugural facility in 2023. Beyond financing, we are proud to have worked closely with StorHub in developing its Sustainable Finance Framework, helping to embed sustainability into its long-term growth strategy and ESG ambitions. At CIMB, we are committed to partnering our clients to achieve their growth ambitions responsibly, delivering positive outcomes for businesses, communities and the environment.”
Chow Wan Thonh, Head of Coverage for Singapore and ASEAN, Standard Chartered, added: “Sustainable finance is about turning ambition into action and mobilising capital towards measurable outcomes. We are pleased to have supported StorHub in developing its Sustainable Finance Framework and in linking its financing to its sustainability ambitions. This reflects how we want to partner with our clients, combining our sustainable finance expertise and network to support their long-term growth and transition.”
Lim Lay Wah, Head of Global Financial Institutions Group, Overseas Branches and ESG Strategy, UOB, said: “As sustainability becomes an increasingly important driver of business growth and resilience, access to financing that drives measurable outcomes is critical. StorHub’s Sustainable Finance Framework provides a clear roadmap for advancing its sustainability ambitions across the region. This Sustainability Linked Loan reflects our shared commitment to translating ambition into action by linking financing with meaningful sustainability targets. Leveraging UOB’s regional network, sector expertise and sustainable finance capabilities, we are supporting StorHub’s growth journey while driving greater accountability and long-term impact.”
The Framework and SLL build on sustainability practices already embedded across StorHub's portfolio. Over the years, StorHub has invested in 18 rooftop solar photovoltaic systems, generating clean energy on-site and reducing reliance on grid electricity, complemented by systematic upgrades to lighting, air conditioning systems, and building controls. StorHub has also achieved Leadership in Energy and Environmental Design (“LEED”) certification across 13 facilities, establishing the largest LEED-certified self storage portfolio in Asia Pacific.
About StorHub
StorHub is a leading self-storage platform in Asia Pacific and the region's largest multi-country self-storage owner and operator. The company currently owns and manages over 7.2 million sq ft of gross floor area, more than 180 properties and over 80,000 self-storage units across six countries: Australia, Japan, Greater China, Malaysia, Singapore, and South Korea. Since 2019, StorHub has built a scaled regional platform delivering essential self-storage services to homes and businesses across Asia Pacific, focusing on key urban markets where demand for modern self-storage is strong and supply remains significantly constrained.
For more information, please visit storhub.com or follow us on LinkedIn.