For the second year running, City Developments Limited (CDL) has been named the Top Property Developer in Asia and Top Singapore Company in the Channel NewsAsia Sustainability Ranking. CDL is also ranked among the top 10 sustainable companies in Asia. The results were announced at the CSR Asia Summit held in Kuala Lumpur recently.
The Channel NewsAsia Sustainability Ranking identifies the top 100 companies in the region with the highest sustainability performance, based on a broad range of environmental, social and governance (ESG) indicators. The ranking gives investors and consumers insights into corporate sustainability practices, and aims to provide businesses with a way to benchmark their performance against other regional businesses.
Based on ESG indicators and methodology developed by Sustainalytics, a leading provider of ESG and corporate governance ratings and research, the ranking highlights the overall top 20 companies as well as the top three businesses per country. The territories covered are China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand.
Mr Kwek Leng Joo, CDL Deputy Chairman and a long standing sustainability advocate, said, “Global warming, climate change and consumer expectations have intensified the calls for increased environmental stewardship and accountability. With green consumerism on the rise, companies must embrace sustainable practices to remain relevant in today’s global green economy.”
Mr Kwek added, “Since establishing our ethos to conserve as we construct in 1995, sustainability has been integrated in CDL’s business model and corporate culture. As Asia’s leading eco-developer, we see unlimited possibilities to innovate, invest in and improve the way buildings sustain life for a greener, better future.”
Over the past two decades, CDLhas championed sustainable development and pioneered a series of green buildings, innovations and industry-changing methods that promote recycling, reduce waste, raise productivity and inspire eco-friendly lifestyles. Some of CDL’s groundbreaking projects include the first CarbonNeutral® development in Asia Pacific and Singapore, 11 Tampines Concourse; Singapore’s first Eco-mall, City Square Mall; and Tree House condominium, which achieved a Guinness World Record for the largest vertical garden.
In 2015, CDL introduced the innovative Prefabricated Prefinished Volumetric Construction (PPVC) methodology for The Brownstone Executive Condominium in Canberra Drive, Sembawang. This application of PPVC is the first-of-its-kind in Asia, and likely the world’s largest for a large-scale residential development. Some 5,000 buildings modules will be prefabricated offsite, and subsequently assembled onsite. This is expected to increase productivity by more than 40%, which translates into some 55,000 man days saved. PPVC is also a sustainable building method that will reduce onsite construction work and hence mitigate the environmental impact.
Globally, CDL remains the first Singapore corporation to be listed on three of the world’s leading sustainability benchmarks – FTSE4Good Index Series (since 2002), Global 100 Most Sustainable Corporations in the World (since 2010) and Dow Jones Sustainability Indices (since 2011). In the Channel NewsAsia Sustainability Ranking 2014, CDL was named Top Property Developer in Asia, Top Singapore Corporation, and second among the top 100 sustainable companies across 10 key Asian economies.