Future Value 2030 Goals 2030 Targets(1) Interim 2023 Annual Targets(1) FY2021-FY2023 Performance 2021: Reduce embodied carbon of building materials by 24% compared to their conventional equivalents 2022: Reduce embodied carbon of building materials by 41% compared to 2016 baseline 2023: - Reduce embodied carbon of building materials by 41% compared to 2016 baseline - Reduce absolute Scope 3 GHG emissions from investments(14) by 58.8% by 2030 from a 2016 base year 2021: 7% reduction for new projects awarded from 2018 onwards 2022: 7% reduction for new projects awarded from 2018 onwards 2023: 21% reduction compared with 2016 baseline 29% reduction 2021: Performance is on track to meet target. Data will be reported at end of 2022 when projects obtain TOP 2022: 22% reduction compared to conventional equivalents 2023: 33%(15) reduction compared to 2016 baseline 61.6%(16) reduction Goal 3: Ensuring Fair, Safe and Inclusive Workplace Maintain zero corruption and fraud incidents across CDL’s core operations Zero 2021: Zero corruption and fraud incident 2022: Zero corruption and fraud incident 2023: Zero corruption and fraud incident Maintain zero fatality across CDL’s operations and direct suppliers in Singapore Zero 2021: Zero fatality 2022: 1 fatality 2023: 1 fatality(17) Maintain zero occupational disease across CDL’s operations and direct suppliers in Singapore Zero 2021: Zero occupational disease 2022: Zero occupational disease 2023: Zero occupational disease Maintain a Major Injury Rate (Major IR)(18) of 10.0 across CDL’s operations and direct suppliers in Singapore 2021: ≤16.7 2022: ≤16.0 2023: ≤15.3 2021: 35.1 Major IR 2022: 28.9 Major IR 2023: Zero Major IR 2021: Maintain a Minor Injury Rate (Minor IR)(18) of 250.0 across CDL’s operations and direct suppliers in Singapore 2022: Maintain a Minor Injury Rate (Minor IR)(18) of 460.0 across CDL’s operations and direct suppliers in Singapore 2023: Maintain a Minor Injury Rate (Minor IR)(18),(19) of 460.0 across CDL’s operations and direct suppliers in Singapore 2021: ≤354.7 2022: ≤633.7 2023: ≤593.0 2021: 175.5 Minor IR 2022: 317.9(20) Minor IR 2023: 209.9 Minor IR Notes: (1) The 2030 targets and interim 2023 annual targets were reviewed in Q2 2023 and reflected in the table above. (2) Calculated based on % of total gross floor area (aligned with BCA’s calculation of green buildings). (3) Intensity figures were calculated based on per unit net lettable floor area. (4) There has been a change in emission factor applied between 2016 and 2023. The reduction value would be 25% when calculated on a comparable basis. (5) Reduction value includes the RECs purchased and retired for the respective year. For 2023, RECs retired contribute to ~2.6% reduction. (6) Water use and waste intensities include water use and waste disposed by the CDL Corporate Office. (7) Waste intensity figures are for non-recyclable waste. (8) 2023 experienced higher traffic that resulted in a higher cooling load. (9) For CDL managed construction projects that obtained TOP status for the reporting year. The projects are Piermont Grand, Haus on Handy, Boulevard 88 / The Singapore EDITION and Amber Park. As of 2023, project targets set for energy/water/waste will be applied to projects commencing in that specified year and measured to whether the targets are met at their point of TOP. (10) For energy use intensity, the targets were not met for Piermont Grand, Haus on Handy and Boulevard 88 / The Singapore EDITION namely due to the prolonged construction process caused by COVID-19. Projects' performances are measured against their specific targets set at the point of commencement of the construction. (11) For water use intensity, the targets were not met for Haus on Handy and Boulevard 88 / The Singapore EDITION namely due to the prolonged construction process caused by COVID-19. Projects' performances are measured against their specific targets set at the point of commencement of the construction. (12) For waste intensity, the targets were not met for Boulevard 88 / The Singapore EDITION due to a higher waste generation from interior design materials associated with a mixed development project that includes a hotel. Projects' performances are measured against their specific targets set at the point of commencement of the construction. (13) These refer to vendors engaged for proprietary equipment service and maintenance, facility management, security and cleaning service appointed by Asset Management, and main contractors and key consultants (architects, civil and structural engineers, mechanical and electrical engineers) appointed by Property Development. (14) Investment refers to the Group’s six key subsidiaries: CBM Pte Ltd, CDL Hospitality Trusts (considered an associate of the Group from 2023 onwards), City Serviced Offices, Le Grove Serviced Residences, Tower Club Singapore, hotels owned and managed by M&C. (15) The calculation is based on the best available information on emission factors for building materials and industry accepted approaches at the point of reporting. These changes could have also contributed to this reduction. (16) There have been changes in our investment portfolio as well as emission factors applied between 2016 and 2023. The reduction would be 58.7% when calculated on a comparable basis. (17) There was one reported fatality case that occurred during demolition phase at Newport Plaza construction site in Q2 2023. Investigation is still ongoing by MOM. Site specific corrective action had been implemented on site and reviewed based on preliminary investigation reports. (18) Major and Minor IR refer to the number of major and minor workplace injuries per 100,000 persons employed, respectively. For the definition of Major and Minor IR, please refer to Ministry of Manpower's website. (19) The 2030 goals for minor injury rates were adjusted to take into account the revised definition of minor injuries by Ministry of Manpower. (20) Minor injury rate for construction sites in 2022 was restated to accurately account for the number of lost-time injury. Future Value 2030 Goals 2030 Targets(1) Interim 2023 Annual Targets(1) FY2021-FY2023 Performance Asset Management (AM)- Retail(3),(6): 2021: Reduce energy use intensity by 18% from 2010 levels 2022: Reduce energy use intensity by 55.7% from 2016 levels 2023: Reduce energy use intensity by 55.7% from 2016 levels 2021: Reduce water use intensity by 9% from 2010 levels 2022: Reduce water use intensity by 10.8% from 2016 levels 2023: Reduce water use intensity by 10.8% from 2016 levels 2021: Reduce waste intensity by 12% from 2016 levels(7) 2022: Reduce waste intensity by 5% from 2016 levels(7) 2023: Reduce waste intensity by 5% from 2016 levels(7) 2021: Energy use intensity: 18% reduction 2022: Energy use intensity: 10% reduction 2023: Energy use intensity: 27% reduction 2021: Water use intensity: 8% reduction 2022: Water use intensity: 9% reduction 2023: Water use intensity: 9.5% reduction 2021: Waste intensity: 10.7% reduction 2022: Waste intensity: Limit increase to less than 10% 2023: Waste intensity: Limit increase to less than 8% 2021: Energy use intensity: 31% reduction 2022: Energy use intensity: 23.5% reduction 2023: Energy use intensity: 19.9% reduction(8) 2021: Water use intensity: 44% reduction 2022: Water use intensity: 48.3% reduction 2023: Water use intensity: 48.3% reduction 2021: Waste intensity: 16.4% reduction 2022: Waste intensity: 0.2% reduction 2023: Waste intensity: 2% reduction Corporate Office: 2021: Reduce energy use intensity by 31% from 2007 levels 2022: Reduce energy use intensity by 63% from 2016 levels 2023: Reduce energy use intensity by 63% from 2016 levels 2021: Energy use intensity: 29% reduction 2022: Energy use intensity: 9% reduction 2023: Energy use intensity: 14% reduction 2021: Energy use intensity: 37% reduction 2022: Energy use intensity: 13% reduction 2023: Energy use intensity: 14% reduction Property Development (PD)(9): 2021: Achieve an energy use intensity of 95 kWh/m2 2022: Achieve an energy use intensity of 95 kWh/m2 2023: Achieve an energy use intensity of 95 kWh/m2 2021: Achieve a water use intensity of 1.54 m3/m2 2022: Achieve a water use intensity of 1.54 m3/m2 2023: Achieve a water use intensity of 1.54 m3/m2 2021: Achieve a waste intensity of 40 kg/m2(7) 2022: Achieve a waste intensity of 40 kg/m2(7) 2023: Achieve a waste intensity of 40 kg/m2(7) 2021: Energy use intensity: ≤105 kWh/m2 2022: Energy use intensity: ≤105 kWh/m2 2023: Energy use intensity: ≤105 kWh/m2 2021: Water use intensity: ≤1.75 m3/m2 2022: Water use intensity: ≤1.72 m3/m2 2023: Water use intensity: ≤1.72 m3/m2 2021: Waste intensity: ≤50kg/m2 2022: Waste intensity: ≤50kg/m2 2023: Waste intensity: ≤47.5kg/m2 2021: Energy use intensity: 107.09 kWh/m2 2022: Energy use intensity: 63 kWh/m2 (for Whistler Grand that has obtained Temporary Occupation Permit (TOP) in 2022 only) 2023: Energy use intensity: 3 out of 4 TOP projects did not meet target(10) 2021: Water use intensity: 0.70 m3/m2 2022: Water use intensity: 0.98 m3/m2 (for Whistler Grand only) 2023: Water use intensity: 2 out of 4 TOP projects did not meet target(11) 2021: Waste intensity: 45.79 kg/m2 (Environmental performance reported for The Tapestry, which obtained TOP status in February 2021) 2022: Waste intensity: 28 kg/m2 (for Whistler Grand only) 2023: Waste intensity: 1 out of 4 TOP projects did not meet target(12) 2021: Ensure 100% of appointed suppliers(13) are certified by recognised EHS standards 2022: Ensure 100% of appointed suppliers(13) are certified by recognised EHS standards 2023: Ensure 100% of appointed suppliers(13) are certified by recognised EHS standards 2021: ≥90% of suppliers appointed by AM; 100% of main contractors and ≥90% of key consultants appointed by PD 2022: 100% of vendors appointed by AM; 100% of main contractors and ≥90% of key consultants appointed by PD 2023: 100% of vendors appointed by AM; 100% of main contractors and ≥90% of key consultants appointed by PD 2021: 93% of AM appointed suppliers; 100% of main contractors and key consultants appointed by PD 2022: 100% of AM appointed vendors; 100% of main contractors and key consultants appointed by PD 2023: 100% of AM appointed vendors; 100% of main contractors and key consultants appointed by PD SUSTAINABILITY 87 86 SUSTAINABILITY ANNUAL REPORT 2023 CITY DEVELOPMENTS LIMITED
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