Alongside the release of the company’s FY2018 Annual Report, City Developments Limited (CDL) has published its latest Integrated Sustainability Report (ISR) 2019. Entitled “Changing the Climate: Towards Future Value 2030 Goals”, this fully-digital report communicates CDL’s progress towards its material ESG goals and targets established under the CDL Future Value 2030 Sustainability Blueprint.

The theme for ISR 2019 echoes the urgency of climate action and CDL’s continued commitment as a catalyst in influencing the building industry and corporates towards best practices in sustainability. It also reinforces the Company’s firm commitment to achieve the relevant UN Sustainable Development Goals (SDGs) through its Future Value 2030 Sustainability Blueprint. Launched in 2017, the future-fit blueprint underpins CDL’s ESG integration into its business for more than 20 years, and drives its integrated sustainability strategy towards 2030.

Key Highlights of CDL’s ESG Performance in 2018

• First Singapore real estate company to obtain Science Based Targets Initiative’s (SBTi) validation for its carbon emissions intensity reduction target of 59%
• First Singapore real estate company to complete a Climate Change Scenario Planning Study based on Task Force on Climate-related Financial Disclosures (TCFD) recommendations
• Ranked 25th in 2019 Global 100 Most Sustainable Corporations in the World; only Singapore company listed for 10 consecutive years
• Attained 100 BCA Green Mark developments and office interiors, the highest achieved among real estate developers in Singapore
• Achieved more than S$24 million in savings due to energy-efficient retrofitting and initiatives at eight office buildings from 2012 to 2018
• Pioneered adoption of Renewable Energy Certificates through a blockchain-enabled platform in Singapore
• S$100 million inaugural Green Bond fully-allocated
• Embracing 13 relevant United Nations SDGs

CDL Group Chief Executive Officer Mr Sherman Kwek said, “Climate change has become a mainstream political, business and social issue. Today’s investors and consumers are increasingly expecting socially responsible brands and products. The benefits of climate action are greater than ever before, while the costs of inaction continue to mount. For more than two decades, CDL has integrated sustainability into all aspects of our business and we continue to accelerate our actions to tackle climate change. These efforts will not only improve our ESG performance but also unlock the opportunities in a climate-resilient economy, and future-proof our business for sustained growth.”

For the full report, please click here to visit CDL’s dedicated sustainability microsite.