Making business sense of robust ESG performance
Into its 12th year of sustainability reporting, City Developments Limited (CDL) has continued to push forward with more robust sustainability performance tracking and disclosure. CDL’s 2016 Integrated Sustainability Report continues to adopt the International Integrated Reporting Council’s Integrated Reporting <IR> framework. The Report connects CDL’s ESG performance with economic impact, and details the management of its Financial, Organisational, Natural, Manufactured, Social and Relationship, and Human capitals, to make stronger business sense for its investors and stakeholders.
Amongst the First in Singapore to Align Material Issues to the UN SDGs
CDL has taken the lead as one of the first companies in Singapore to align its material issues to the United Nations (UN) Sustainable Development Goals (SDGs). The SDGs are expected to form a global standard for future policy decisions and legislation, and businesses that support the SDGs are more likely to be aligned with emerging policy priorities, potentially enhancing their licence to operate. The global goals also present opportunities for companies to innovate their products and services to address sustainable development needs, and benefit from multi-stakeholder partnerships around a shared set of global priorities. CDL has identified nine SDGs (on page 18 of the Report) that are relevant to the company, based on its potential impact on and contributions to the goals.
Creating Business Value from Strong Environmental Performance
CDL’s 2016 Integrated Sustainability Report introduces targets for reductions in energy and water use intensity of 22% by 2020 and 25% by 2030 across its core business, from baseline year 2007. It also introduces a new target of 35% sustainable building materials use from 2016. These augment carbon emissions intensity reduction targets set in 2011.
To align with globally-recognised standards in carbon emissions measurement and reporting, CDL also embarked on and achieved the stringent ISO 14064-1 certification in Greenhouse Gas (GHG) emissions reporting – an industry first in Singapore.
In 2015, CDL achieved:
19% reduction in carbon emissions intensity against the baseline year of 2007, on track to meet its 22% target for 2020
27% reduction in energy use intensity against the baseline year of 2007, exceeding its 22% target for 2020
17% reduction in water use intensity against the baseline year of 2007, on track to achieve its 22% target for 2020
More than S$31 million worth of savings from annual electricity consumption from 57 Green Mark certified buildings between 2008 and 201
CDL’s 2016 Integrated Sustainability Report is aligned with the Global Reporting Initiative’s (GRI) G4 guidelines at the Comprehensive level, and is externally assured. It is the company’s ninth dedicated sustainability report. CDL published Singapore’s first GRI Application Level-checked report in 2008. In 2015, CDL became the first property developer in Singapore to adopt the <IR> approach for its Sustainability Report.
CDL’s 2016 Integrated Sustainability Report has also been submitted to UN Global Compact (GC) as a Communication on Progress at the highest “GC Advanced” level, making CDL the only Singapore company to have attained this status since 2012.
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