Singapore, 26 March 2024 - City Developments Limited (CDL) has released its Integrated Sustainability Report (ISR) 2024, marking its 17th sustainability report since 2008. Themed "Zero in on Nature", the digital report focuses on CDL's progress towards achieving its Environmental, Social and Governance (ESG) goals and targets under the CDL Future Value 2030 Sustainability Blueprint. The report aligns with global and local climate and nature goals and the UN Sustainable Development Goals (SDGs), and the blueprint is integral to CDL's business strategies and operations, helping CDL mitigate ESG risks and capture growth opportunities.
Complementing its pledge towards its first stage of Operational Net Zero by 2030, the Company achieved a 14% reduction in total operational carbon emissions across the Company's business operations in Singapore for the year under review (January to December 2023) compared to 2022. The Company has met its interim 2023 target and is committed to meeting its Science Based Targets Initiative (SBTi)-validated target of a 63% reduction by 2030. As part of its renewed SBTi-validated greenhouse gas (GHG) reduction targets set in 2021 to align with a 1.5°C warmer scenario, CDL stepped up on integrating and tracking its carbon reduction performance for Scope 1, 2 and 3 emissions.
Mr Sherman Kwek, CDL's Group Chief Executive Officer, said, "Our sustainability-centric business model is anchored on the four key pillars of Integration, Innovation, Investment, and Impact, which will enable us to achieve various deliverables such as decarbonisation and disclosure. This approach has enabled CDL to strengthen our triple bottom line to create long-term value while working towards our net zero ambitions and building nature-positive cities and solutions. CDL is committed to respecting nature, preserving biodiversity, advancing climate action and enhancing green building performance."
