On 10 June, close to 100 management and staff of CDL Group attended the Corporate Sustainability Workshop on supply chain risks and climate risks, with established speakers from consultancy services ELEVATE and PwC.

The workshop was a follow-up from two major studies that CDL had completed in 2020 – the supply chain segmentation study with ELEVATE, and the climate change risk scenario analysis for 1.5-degree climate change scenario with PwC.

In the supply chain segmentation study, environmental and social risks, such as embodied carbon intensity and forced labour, were assessed for CDL's top 100 suppliers and top five building materials procured for its developments. The study helped strengthen CDL’s understanding of where the risk hotspots are within its supply chain and helped to improve its supply chain strategy.

Meanwhile, the climate change risk scenario analysis identified and assessed physical and transition risks and opportunities as a result of climate change, based on a projected 1.5-degree climate change scenario in 2030.

The workshop commenced with an opening address by CDL Chief Sustainability Officer Ms Esther An, who set the tone of the workshop by presenting the escalating importance of ESG risks, in particular climate change-related risks, both on the local and international landscape.

ELEVATE Vice President Ms Erin Lyon and Project Manager Mr Ruhi Mukherji deep-dived into the findings of the supply chain segmentation study. They also offered recommendations for how supply chain risk management can be further reinforced and strengthened.

PwC UK Partner Mr Jon Williams, who is also global Task Force on Climate-related Financial Disclosures (TCFD) Expert and TCFD Board member, launched the second part of the workshop by emphasising the importance of climate-related financial disclosures. He was followed by PwC Singapore Partner and Head of Sustainability and Climate Change Ms Fang Eu-Lin, and PwC China/Hong Kong Climate Change Advisor Ms Low Lit Ping, who shared the importance of forward planning by applying scenario analysis in understanding the financial impact and opportunities of climate-related risks.

Both workshops were kept interactive through quizzes with the audience, to help facilitate learning and understanding of the complex topics.

Finally, CDL Group CEO Mr Sherman Kwek delivered the closing remarks. He gave a sobering reminder that despite signs of economic recovery from the global pandemic, the world is far from being sustainable. Given that climate impacts are emerging as formidable challenges for cities as well as the real estate and related industries, Mr Kwek urged the Group to stand united and committed in future-proofing its business and adopting integrated sustainability strategies for all its stakeholders.

With the support and commitment of all its business units and subsidiaries rallying its supply chain, CDL will continue to advance its firm commitment to create greater value for all stakeholders and the environment.