DBS Bank has loaned a Singaporean egg producer, Chew’s Agriculture, SGD 27 million (roughly USD 20 million) for cage-free facilities that will allow its chickens to live a life that is cruelty-free. The farm will optimise production using an automated collection of eggs and keep chickens in optimum conditions.
The innovation here is not the egg farm but the loan: the first of its kind. When the borrower exceeds environmental, social and governance targets, the interest rate is reduced.
