CapitaLand Limited has unveiled its first sustainability master plan on October 1 that focuses on its sustainability targets, strategies, and plans till 2030.
Under the plan, clear environment-related targets are laid out. These include the aim to reduce its carbon emissions intensity by 78%, to increase the proportion of its total electricity consumption to renewable sources by 30%, as well as reduce its water consumption intensity for its operating properties by 45% by 2030.
The plan will also see CapitaLand aiming to grow its sustainable finance portfolio to $6 billion by 2030, three times the amount the company has raised to date. The target makes the group the first real estate company in Singapore to set a public sustainable finance target.
CapitaLand will also implement its green lease programme to encourage its tenants to implement environment-friendly features in their premises and embrace more sustainable practices. The programme will focus on areas such as energy and water conservation, proper waste management, and more.
Other targets include fostering a “diverse and dynamic” workforce and talent pool while continuing to adopt a zero-tolerance policy on practices that compromise on the safety and well-being of its customers and staff.
In addition to the master plan, CapitaLand has launched the CapitaLand Sustainability X Challenge to source for innovations on a global scale to meet its sustainability targets outlined in its plan. Participants can submit their solutions from November 2020 and each winner will receive up to $50,000 in project funding to develop their innovations and pilot their solutions with CapitaLand.
“CapitaLand’s Sustainability Master Plan will be our strategic blueprint, focusing on areas where we can create the greatest positive impact and pursue profitable business growth in a responsible manner. The Master Plan will guide us to galvanise efforts across our global network of properties, enabling CapitaLand to make a bigger contribution to the environment and the communities where we operate, and position CapitaLand as a progressive employer of choice,” says CapitaLand CEO Lee Chee Koon.
“As a leading sustainable real estate company, we have set ambitious sustainability goals that build on CapitaLand’s successes in the past 20 years, to innovate and amplify the impact of our sustainability efforts in the next 10 years. We will review our Master Plan every two years to ensure that we remain on track as the Group continues to grow and evolve. Investors and governments are increasingly incorporating ESG considerations in their investment and policy decisions,” Lee adds.
“To accelerate CapitaLand’s sustainability efforts to meet our 2030 goals, we will also deepen our partnerships with financial institutions to triple our quantum of sustainable finance and further dovetail our sustainability performance to reap greater financial benefits. We will also implement our green lease programme globally, work with our customers to lower their resource consumption levels and drive better energy efficiencies together,” says CapitaLand’s chief sustainability officer Lynette Leong.
Shares in CapitaLand closed flat at $2.71 on September 30.
