Singapore, 22 January 2015 – City Developments Limited (CDL), the first and only Singapore company to be listed for six consecutive years in the prestigious Global 100 Most Sustainable Corporations in the World, continues to be ranked one of the world’s most sustainable corporations. Starting from 81st position in 2010, CDL’s ranking has improved to 34th position in 2015. Recognised as the world’s preeminent sustainability equity index and gold standard in corporate sustainability analysis, this ranking was announced at the World Economic Forum in Davos, Switzerland, today.
Over the past 20 years, CDL has pioneered visionary approaches to ‘conserve as it constructs’. It has championed groundbreaking innovations and set new benchmarks in developing green properties, managing buildings in a resource-efficient way and encouraging stakeholders to be part of the green agenda.
In 2014, CDL set a Guinness World Record for the largest vertical garden at its Tree House condominium. The 24-storey, 2,289 square metre vertical garden is expected to achieve energy savings of between 15% and 30% or total utility savings of approximately between S$12,000 and S$24,000 annually.
It will also be the first developer in Asia to apply advanced construction technology, Prefabricated Prefinished Volumetric Construction (PPVC), for a large-scale residential development. Some 3,300 building modules will be used to develop an Executive Condominium at Canberra Drive in Sembawang. This is likely the largest application of PPVC in a large-scale residential project in the world. Besides mitigating the environmental impact onsite, the use of PPVC will also raise productivity by more than 40%, saving some 55,000 man days.
In the same year, as one of Singapore’s biggest landlords, CDL progressively implemented the CDL Green Lease Partnership programme to engage and encourage its commercial tenants to reduce their carbon footprint. As at December 2014, over 70% of CDL’s tenants have signed the CDL Green Lease Memorandum of Understanding (MOU) pledging their commitment to monitor, manage and reduce energy consumption.
The latest accolade adds to CDL’s achievements across other top sustainability benchmarks. In the Channel NewsAsia Sustainability Ranking 2014, CDL was named Top Property Developer in Asia, Top Singapore Corporation, and second among the top 100 sustainable companies across 10 key Asian economies. In 2014, CDL also received the “Best Environmental Disclosure” title in the Sustainable Business Awards jointly organised by Global Initiatives and PricewaterhouseCoopers.
CDL remains the first Singapore corporation to be listed on three of the world’s leading sustainability benchmarks – FTSE4Good Index Series (since 2002), Global 100 Most Sustainable Corporations in the World (since 2010) and Dow Jones Sustainability Indices (since 2011).
Compiled by Corporate Knights Inc., a Toronto-based media and investment advisory, the Global 100 consists of companies that are at the top of their respective industrial sectors in terms of overall sustainability performance. Inclusion in the Global 100 is determined using twelve key performance indicators covering resources management, human resources management and financial management.
Ms Esther An, CDL Chief Sustainability Officer, said, “Globally, sustainability has become a mainstream movement. In Singapore, we are at the cusp of transformation as more companies are encouraged to address the importance of sustainability. To CDL, sustainability is more than just an opportunity to make a positive impact on society and the environment. We believe that sustainability is imperative to our long-term viability and have built our business around its principles. This has enabled us to pursue new areas of growth and create enduring value.”
Ms An added, “Being the first and only Singapore company to be ranked among the Global 100 for the sixth consecutive year is an affirmation that our sustainability efforts are in line with international best practices. As a leading eco-developer, CDL has been a firm proponent of sustainable development, advocating for change across our supply chain and stakeholders. We are pleased that more and more Singapore companies have joined us in a concerted push for greater sustainability. Our business has served to enrich the wider community and we will continue to build on our solid foundation for a more sustainable future.”
In its 2014 Sustainability Report, CDL reported an 18% reduction in carbon emissions in 20131, up from 11% in 20121 and 8% in 20111. Moving ahead, CDL aims to achieve 22% reduction in carbon emissions by 20201 and 25% by 20301. It also attained over S$30 million of estimated reduction in annual electricity consumption at its 48 Green Mark awarded buildings between 2008 and 2013.