Singapore, 3 July 2020 – City Developments Limited (CDL) was named ‘Most Sustainable Company in the Real Estate Industry’ by World Finance, as part of the magazine’s Sustainability Awards 2020. The award recognises CDL’s longstanding commitment to strategic Environmental, Social and Governance (ESG) integration for over 25 years.

CDL’s pioneering sustainability practices and advocacy were key considerations in the World Finance’s judging panel, having leveraged four strategic pillars – integration, innovation, investment and impact – to pioneer an ESG strategy that benefits stakeholders, the business and the planet. This included being the first real estate company in Singapore to set a carbon emissions intensity reduction goal, verified by the Science Based Targets initiative, and the first Singaporean company to issue a green bond.

Globally, the building and construction sectors together account for 39% of energy-related carbon dioxide emissions every year, according to the World Green Building Council. CDL recognises that the construction industry plays a crucial role in support of the Paris Agreement on climate change and the UN Sustainable Development Goals. With finance becoming a key enabler for climate action and innovation, CDL has been driving sustainable practices, not just as the right thing to do, but also as a good business practice.