Property pioneer City Developments Limited (CDL) emerged as the top Singapore corporation to be listed in the prestigious Corporate Knights Global 100 Most Sustainable Corporations 2012. It is the only Singapore company listed on this global ranking for three consecutive years.
This was announced at Davos World Economic Forum, at a private dinner hosted by Corporate Knights and Inflection Point Capital Management, on 25 January 2012. Listed for the third consecutive year, CDL’s ranking improved from 100th position in 2011 to 62nd place this year. This accolade is a testament to CDL’s ongoing and concerted sustainability efforts over the years. It is also significant as it places Singapore on the global map for sustainability.
“We are excited to be part of Global 100 for the third consecutive year. This recognition benchmarks us against the very best global sustainability leaders and affirms that we are moving in the right direction. Our improved ranking reflects our concerted effort to integrate sustainability into our corporate DNA. This global inclusion serves as an encouragement that spurs us to make further improvements in our sustainability journey,” said Mr Kwek Leng Joo, Managing Director of CDL.
Launched in 2005 and led by the Toronto-based media firm Corporate Knights, the annual Global 100 is considered the most extensive corporate sustainability assessment in existence. Its purpose is to reinforce and raise awareness about the world’s leaders in clean capitalism, identifying top global firms most willing and adept to deal with key social and environmental factors they face in everyday operations.
This year, Corporate Knights collaborated with three strategic partners (Inflection Point Capital Management, a sustainability-focused asset management venture, Legg Mason’s Global Currents Investment Management as well as Phoenix Global Advisors LLC) to identify the highly coveted list of 100 Most Sustainable Corporations in the World. The Global 100 is announced each year at the World Economic Forum in Davos, Switzerland. Its key performance indicators include factors like productivity in energy, carbon, water and waste, employee turnover amongst others. More information can be found at: www.global100.org and www.corporateknights.com/global100
For years, CDL has set the benchmark as Singapore’s leading green developer, attaining its financial objectives with responsible corporate citizenry through its Triple Bottom Line approach: balancing financial performance with environmental stewardship (championing the development of green buildings in Singapore) as well as social and community engagement (through key signature programmes that are focused on helping society’s less fortunate, championing youth development and promotion of the arts). These efforts have made CDL the only Singapore developer listed on both FTSE4Good Index Series since 2002 and the Dow Jones Sustainability Indexes (globally and regionally).
CDL is also honored to be the developer with the most number of Green Mark awarded properties, and accorded the Built Environment Leadership Platinum Award in 2009 as well as Singapore’s only Green Mark Platinum Champion in 2011 by Building and Construction Authority.
A champion for sustainability reporting in Singapore, CDL was the first local company in 2008 to publish a report that was successfully checked by Global Reporting Initiative (GRI), using its G3 Guidelines. GRI is the world’s most widely-used sustainability reporting framework for organisations to measure and report their economic, environmental and social performance.
In CDL’s Sustainability Report 2010, the Company also achieved the AA1000AS (2008) Assurance Standard, making it the first local company to be assured under this internationally accepted standard which not only establishes the credibility and reliability of CDL’s sustainability performance, but also raises the bar in CSR reporting in Singapore. Last year, CDL became the first Singapore corporation to address the international ISO 26000 framework in its latest Sustainability Report. CDL’s current and previous Sustainability Reports are available online at www.cdl.com.sg.
For media queries, please contact:
Assistant General Manager & Head (Corporate Comms)
City Developments Limited
Tel: 6428 9315
Assistant Manager (Corporate Comms)
City Developments Limited
Tel: 6428 9313