South Beach is a new sustainable development in Singapore. (Photo: Christopher Chitty)
City Developments Limited (CDL) has been named the top Singapore company for sustainability, and the most sustainable corporation in real estate management and development, in the prestigious Global 100 Most Sustainable Corporations in 2017.
Aside from clinching the 30th spot, it is also the first and only local firm to make the list for eight consecutive years. Conducted by Corporate Knights, a Toronto-based media and investment research firm, the latest rankings were announced at the World Economic Forum on 17 January in Davos, Switzerland.
Grant Kelley, CDL’s CEO said: “For over 20 years, our pursuit of sustainable development has built our stewardship in environmental, social and governance performance. In the long run, this not only enhances our reputation, but also assists in risk mitigation, cost management and drives improved operational performance.”
CDL started integrating sustainability into its business in 1995. Last year, it achieved a 17 percent drop in water use and a 19 percent fall in carbon emissions, according to its 2016 Integrated Sustainability Report. It also recorded a 27 percent reduction in energy usage, with over $31 million worth of savings from annual electricity consumption from 57 Green Mark certified buildings between 2008 and 2015.
The company’s properties have also achieved many firsts. For instance, 11 Tampines Concourse was named the first carbon neutral development in Singapore and Asia Pacific, City Square Mall was hailed the first local eco-mall, while Tree House condominium made it to the Guinness World Records in 2014 for having the largest vertical garden.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
