Last year, CDL hosted a dialogue and fundraiser with Jane Goodall Institute (Singapore) and Ocean Geographic, that witnessed a historic and first-ever collaboration between world-renowned conservationists Dr Jane Goodall (centre) and Dr Sylvia Earle (3rd from left). They are pictured with CDL Chief Sustainability Officer Ms Esther An (4th from left); Deputy Prime Minister (DPM) Mr Heng Swee Keat (next to Ms An); CDL Group General Manager Mr Chia Ngiang Hong (3rd from right); and partners.
Cementing
30 Years
Of Green
Leadership,
Inspiring Others
To Be Agents
Of Change
CDL has come a long way since it embarked on its green journey in 1995. Today with the company’s release of its 18th Integrated Sustainability Report (ISR) 2025, titled “Zero in on Action: Fast-Forwarding Towards Sustainable Ecosystems”, CDL celebrates 30 years of pioneering sustainability leadership, and continues to inspire and motivate others to achieve their green targets.
Building on last year’s focus on nature and biodiversity, this year’s report underscores CDL’s commitment to advancing sustainable ecosystems and creating value for a resilient, nature-positive future. The report also reflects CDL’s pioneering sustainability leadership since 1995, as well as its progress toward Environmental, Social, and Governance (ESG) goals and targets under the CDL Future Value 2030 Sustainability Blueprint.
In line with its Operational Net Zero 2030 target, CDL has reduced its Scope 1 and 2 operational carbon emissions for assets under direct management and operational control by 25% from 2016 levels. It also achieved a 38% reduction in Scope 3 embodied carbon in new developments compared with a 2016 baseline. The Group also recorded a 52.1% reduction in Scope 3 investment intensity, reflecting CDL’s commitment to achieving its Science Based Targets initiative (SBTi)-validated target of a 63% reduction in emissions by 2030.
Marking another milestone, CDL’s Singapore Sustainability Academy (SSA), established in 2017, scaled up with the addition of the SSA Annex for the fast-growing community and partnerships to drive collaborative climate action. The official opening of SSA Annex was attended by over 200 partners, industry representatives, as well as CDL's Board of Directors, management and staff. They include (front row starting 3rd from left): Ms An; CDL Group COO Mr Kwek Eik Sheng (in pink shirt behind Ms An); Singapore Deputy Prime Minister Mr Heng Swee Keat; CDL Group CEO Mr Sherman Kwek; CDL Group General Manager Mr Chia Ngiang Hong; and CDL Group CFO Ms Yiong Yim Ming.
To further advance its climate action strategy, CDL completed an Internal Carbon Pricing (ICP) pilot study on Republic Plaza, its flagship Grade A office building in Singapore, laying the foundation for future implementations of carbon pricing mechanisms across its portfolio.
Ms Esther An, CDL’s Chief Sustainability Officer, said, “We are thrilled to announce the launch of CDL's 18th sustainability report, a testament to our unwavering commitment to sustainability for three decades. Guided by our ethos of ‘Conserving as We Construct’, CDL has consistently integrated environmental stewardship, social well-being, and economic prosperity into our operations. We continue to innovate by ‘Cooling by Greening’ and collaborate with our ecosystem of partners to step up on nature-based solutions and TNFD reporting. This milestone underscores our dedication to creating sustainable spaces that respect nature, advance communities, and ensures a resilient future for all.”
CDL’s flagship environmental outreach programme, Youth4Climate Festival held its 7th edition in 2024 to rally youths and the community to accelerate climate action.
CDL, the National Parks Board, and Ocean Geographic jointly launched the third edition of the Climate Action Exhibition series, themed “Melting Ice, Sinking Cities: An Urgency to Change the Present and Save Humanity” at CDL Green Gallery. It was held from June 2023 to March 2024.
Further Alignment with IFRS Sustainability Disclosure Standards with Enhanced Double Materiality Assessment
In June 2023, the ISSB issued its inaugural International Financial Reporting Standards (IFRS) S1 and S2, which many jurisdictions, including Singapore, have adopted using a phased approach. Moving towards greater alignment with the ISSB Standards, CDL worked with external consultants to enhance its double materiality approach, evaluating both financial and impact materiality in 2024. The Group identified several sustainability-related risks and opportunities (SROs) with potential financial implications on its business. CDL will prioritise addressing these SROs, given the urgent impact of climate change on its core businesses.
CDL’s Value Creation Model, a two-pillar sustainability disclosure and reporting framework, capturing ‘value’ and ‘impact’
CDL has built up a unique blended sustainability reporting framework anchored on impact and value pillars. Since 2008, CDL’s framework has incorporated the Global Reporting Initiative (GRI) Standards at its core, adding various framework over the years: CDP (2010), the Global Real Estate Sustainability Benchmark (GRESB) (2013), Integrated Reporting Framework (2015), SDG Reporting (2016), Task Force on Climate-related Financial Disclosures (TCFD) Recommendations (2017), Science Based Targets initiative (2018), the Sustainability Accounting Standards Board (SASB) Standards and the Climate Disclosure Standards Board (CDSB) Framework (2020), and the TNFD Recommendations (2024).
Strengthening Commitment to Nature and Biodiversity Conservation
CDL has secured over S$9 billion in sustainable financing since 2017. In 2024, it obtained a landmark S$400 million sustainability-linked loan from DBS Bank, aimed at supporting nature conservation and sustainable development in Singapore.
Launched in March 2025, the CDL EcoTrain is Singapore’s first decommissioned SMRT train cabin repurposed and transformed into a vibrant hub for sustainability education. Powered by solar energy, this zero-energy train cabin features interactive displays, as well as hands-on exhibits and workshops. 
CDL also developed a regenerative tropical MicroForest measuring 2,800 square feet (sq ft), a nature-based solution that combats heat and biodiversity loss in high-density urban landscapes. Leading the tree planting ceremony is Singapore President Tharman Shanmugaratnam (centre) with CDL senior management team.
As one of the first Singapore companies to voluntarily adopt the TNFD Recommendations in March 2024, CDL has expanded its TNFD disclosures this year to include its wholly-managed and owned properties in New Zealand. Additionally, the Company has leveraged advanced AI-driven tools for biodiversity and environmental risk assessments, including Xylo Systems, the Integrated Biodiversity Assessment Tool (IBAT), ENCORE (Exploring Natural Capital Opportunities, Risks, and Exposure), and the WWF Risk Filter Suite (Water Risk Filter).
CDL continues to advance nature and biodiversity conservation through the launch of two key initiatives in March 2025, the CDL EcoTrain and CDL MicroForest, at City Square Mall. These initiatives align with CDL’s TNFD adoption and reinforce its commitment to enhancing urban biodiversity and climate resilience while nurturing future eco-champions and promoting sustainable living.
