Singapore, 16 September 2014 – City Developments Limited (CDL) continues to lead the sustainability drive as the Top Property Developer in Asia and Top Singapore Corporation in the inaugural Channel NewsAsia Sustainability Ranking. CDL is also ranked second among the top 100 sustainable companies in Asia. The results were announced during the launch of the ranking at the CSR Asia Summit held in Hong Kong today.
The first of its kind in Asia, the ranking identifies leading firms in corporate sustainability across 10 key Asian economies – China, Hong Kong, India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand. The index lists the top 100 companies with the highest sustainability performance.
Companies included in the Channel NewsAsia Sustainability Ranking are selected based on research provided by Sustainalytics, an award-winning, global sustainable investment research firm. Sustainalytics’ analytical framework broadly addresses three themes: environment, social, and governance. Between 75 and 120 indicators were used to assess each company.
Mr Kwek Leng Joo, CDL Deputy Chairman, said, “Globally, buildings account for some 40% of energy consumption and 30% of greenhouse gas emissions. There is an urgent need for our industry to mitigate the impact of our activities on the environment. That is why CDL has strived to pursue the creation of sustainable developments.”
Mr Kwek added, “To conserve as we construct is a vision we have held since 1995. We have made social, economic and environmental sustainability an integral part of our business. From first-of-its-kind green building innovations, to industry-changing methods that reduce waste and raise productivity, we see unlimited possibilities in the spaces we develop. As Asia’s leading eco- developer, we will continue to innovate, invest in and improve the way buildings sustain life for a greener, better future.”
CDL’s achievements in the Channel NewsAsia Sustainability Ranking follow its recent recognition as a business leader in sustainability at the inaugural World Green Building Council’s Asia Pacific Regional Network Leadership Awards in Green Building. CDL was also the first Singapore corporation listed on three global sustainability benchmarks – FTSE4Good Index Series (since 2002), Global 100 Most Sustainable Corporations in the World for four consecutive years (since 2010) and Dow Jones Sustainability Indices (since 2011).
In its 2014 Sustainability Report, titled ‘Sustain’, CDL reported an 18% reduction in carbon emissions in 20131, up from 11% in 20121 and 8% in 20111. 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. Looking ahead, CDL aims to achieve 22% reduction in carbon emissions by 20201 and 25% by 20301.
The report obtained the Global Reporting Initiative (GRI)-checked Level A+ using the G3.1 guidelines and the Construction and Real Estate Sector Supplement (CRESS). It was externally verified by an independent Certified Sustainability Assurance Practitioner based on the ISAE3000 Assurance Standard. GRI is an internationally accepted reporting framework that is widely used by corporations to measure and disclose their sustainability performance.