With the Ascendas-Singbridge acquisition expected to be completed by June, CapitaLand aims to achieve 100 percent green certification for its expanded global portfolio by 2030. It’s part of the company’s broader aim of having its carbon emission targets.
The group also seeks to have at least 20 percent of its extended group’s energy consumption to come from renewable energy by 2025, revealed CapitaLand president and group chief executive Lee Chee Koon in the group’s 10th sustainability report.
CapitaLand had already achieved green certifications for 70 percent of its properties on a per square meter basis in 2018, prior to the company’s announcement of plan to acquire Ascendas-Singbridge, reported The Business Times.
The two goals are aligned with the company’s broader aim of having its carbon emission targets approved by the Science-Based Targets Initiative.
The Initiative is a worldwide effort to get companies to indicate, based on science, how quickly and how much they need to lower their greenhouse gas emissions under the 2015 Paris Agreement commitment to have global warming limited by up to 1.5 degrees Celsius.
“At CapitaLand, we recognise that the long-term success of our business is closely intertwined with the health and prosperity of the communities we operate in. We firmly believe in doing good and doing right, as we do well, and will continue to place sustainability as an integral part of CapitaLand’s global business,” said Lee.
Other goals outlined by Lee include looking for greener and more sustainability-linked financial instruments and achieving major reductions in paper consumption and single-use plastics from 2020.
The group is one of the signatories to the United Nations Global Compact’s commitment. It also supports both the Taskforce on Climate-Related Financial Disclosure and Carbon Disclosure Project.
CapitaLand’s other notable sustainability-related accomplishments in 2018 include obtaining over $170 million in utilities cost savings since 2009, and lowering water and energy intensity by 20.9 percent and 17.6 percent respectively, on a per square meter basis, for its operational properties.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org