As the world continues to battle climate, health, social and economic challenges posed by Covid-19, it is timely for corporates to build social purpose and long-term sustainability into their business models.
Given the fast-growing demand for ESG information from investors, corporates are increasingly stepping up efforts on ESG disclosure and reporting. As a long-standing sustainability advocate, City Developments Limited (CDL) is committed to accelerating decarbonization, digitalization and disclosure to be future-ready for unpredictable challenges.
Raising the bar on greening our operations, CDL is the first real estate developer in Singapore and the first real estate conglomerate in South East Asia to sign the WorldGBC’s Net Zero Carbon Buildings Commitment. By joining this initiative, we are dedicated to achieving net-zero carbon by 2030 for new and existing wholly owned assets and developments under our direct operational and management control. This marks a crucial milestone in our sustainability journey, reinforcing our mitigation and adaptation efforts to be climate-resilient.
With greater expectations for safe spaces, digitalization is key to raising the wellness standards of buildings. CDL believes what gets measured gets managed. Using AI to track resource performance and apply innovative technologies will enable corporates to improve resource efficiency.
Long-standing prioritization of ESG communication Transparent and prompt communication is essential for strong investor and stakeholder relations. As the first Singapore company to publish a sustainability report using the GRI framework, CDL has transformed our sustainability reporting from being performance-focused to a strategic planning and communication tool.
Sustainability reports can help businesses, investors and analysts make stronger business sense of ESG integration, serving as a key investment decision-making factor. CDL’s own unique, blended sustainability reporting framework – combining GRI standards with those of the International Integrated Reporting Council, TCFD, SASB and the UN’s Sustainable Development Goals – has helped us to effectively communicate our ESG strategy and impact to investors, financiers and insurers.
Since 2017 CDL has had a dedicated sustainability website to provide comprehensive information on our ESG initiatives. We continued to step up our digital communication efforts in 2020, using our social media channels and our Virtual Singapore Sustainability Academy platform to further our thought-leadership and advocacy programs on climate action and sustainable development.
Designed and built by CDL in 2017, the Singapore Sustainability Academy is the first zero-energy building in Singapore dedicated as a hub for advocacy, thought-leadership, collaboration and capacity-building for climate action
CDL’s track record in 12 leading global sustainability rankings reflects the clear connection between robust disclosure and strong ESG performance. These include our long-standing inclusion in the FTSE4Good Index Series (since 2002), MSCI ESG Leaders Indexes (since 2009), Dow Jones Sustainability Indices (since 2011) and Corporate Knights’ Global 100 Most Sustainable Corporations in the World (since 2010).
As Covid-19 accelerated investors’ interest in ESG practices, CDL is proud to have adopted a pioneering approach to ESG integration for more than two decades. Guided by our corporate ethos, Conserving as We Construct, and anchored on four strategic pillars – integration, innovation, investment and impact – our long-standing commitment to sustainability has positioned us well in the race to a low-carbon future.
Esther An, chief sustainability officer, City Developments Limited
City Developments Limited (CDL) is a leading global real estate company with a network spanning 106 locations in 29 countries and regions. Listed on Singapore Exchange, the group is one of the largest companies by market capitalization. Its income-stable and geographically diverse portfolio comprises residences, offices, hotels, serviced apartments, shopping malls and integrated developments.
Illustrated by its ethos of Conserving as we Construct since 1995, CDL was championing sustainability long before it became mainstream. Over the years, CDL has remained steadfast in its strategic integration of ESG goals/policies into its business, pushing the envelope with green building innovation and robust climate strategies. Quality and innovation will remain the hallmarks of CDL’s projects.
Recognized as one of the most sustainable companies in the world, CDL will continue to accelerate climate action in the built environment for a resilient future.
