City Developments Limited (CDL) has been recognised by some of the world’s leading global sustainability ratings and rankings for its track record in effective environmental, social and corporate governance (ESG) integration and strong performance.
Among the accolades, the group has been recognised on both the 2020 CDP A List for corporate climate action and for water security, making it one of the few companies globally to appear on the list.
The recognition marks the third year running that CDL has received an A score for climate change strategy. This is also the second consecutive year that the group has received an A score for water security.
CDL is the only Singaporean company to score an A this year and the only company in Southeast Asia and Hong Kong to remain listed for three consecutive years.
SEE:CityDev warns of 'significant losses' in 1H20 mainly from the prolonged Covid-19 pandemic
CDL says its low-carbon strategies and programmes have been designed to contribute to Singapore’s goal to achieve net zero emissions as soon as possible in the second half of the century.
The group is also the first real estate company in Singapore to have successfully validated its carbon reduction targets by the Science Based Targets initiative (SBTi).
“As the world continues to battle the climate, health, social and economic challenges posed by Covid-19, it is paramount that the building sector remains steadfast in reducing carbon emissions and accelerating climate action to build a more resilient future,” says Esther An, CDL’s chief sustainability officer.
“Given the high environmental impact of the real estate sector and our extensive value chain of stakeholders, we believe that our firm commitment to setting ambitious ESG goals and strategies set under the CDL Future Value 2030 Sustainability Blueprint will help raise the level of best practices in the real estate ecosystem,” she adds.
Shares in CDL closed 3 cents lower or 0.4% down at $7.79 on Dec 8.
