Tree House condominium in Singapore. (Photo: CDL)
In a bid to become one of Singapore’s most eco-friendly property firms, City Developments Limited (CDL) has further raised its performance targets in the field of sustainability.
This is ahead of the SGX’s new rules on sustainability reporting that is expected to take effect from the financial year ending 31 December 2017.
In its latest Integrated Sustainability Report released on Wednesday (18 May), the developer laid out its goals to reduce energy and water usage per sqm of floor area across its core business by 25 percent in 2030, compared to the levels seen in 2007.
Starting this year, it also pledged that 35 percent of the construction materials it uses will be recycled content, or taken from low-carbon sources, or those certified by recognised environmental groups.
These new initiatives come after CDL set targets in 2011 to cut carbon emissions per sqm of floor area by 22 and 25 percent by 2020 and 2030 respectively.
Last year, it slashed carbon emissions by 19 percent, while water and energy consumption was reduced by 17 percent and 27 percent respectively. It also achieved over $31 million in savings due to lower electricity costs across 57 Green Mark certified buildings between 2008 and 2015.
Given the more concerted effort to go green, CDL has received international recognition for its efforts. In fact, it was named the top real estate company and 10th among the top 100 most sustainable corporations in the world for 2016, and the only Singapore firm to make the prestigious list for seven straight years.
CDL is also the first Singapore developer to receive the ISO 14064-1 certification in greenhouse gas emissions reporting. It is also among the first homegrown companies to align its material issues to the United Nations sustainable development goals.
Read the full report here.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
