Singapore-listed property developer City Developments Limited (CDL) has scored the highest Level A+ by the Global Reporting Initiative (GRI) for the second consecutive time for its recently-published sixth sustainability report.
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Entitled “Changing the Landscape,” the report, released on Tuesday, which covers the global company’s 2012 operations in Singapore, cements its commitment to sustainability and corporate social responsibility as it marks its 50th anniversary this 2013.
CDL has been voluntarily publishing such a report since 2008. Main bourse Singapore Exchange have published guidelines for sustainability reporting but currently does not make it mandatory for companies to do so.
In CDL’s latest report, it documents the improvement of their business operations by assessing four key areas: People Engagement, Product Stewardship, Community Partnership and Environmental Conservation. This is aligned to this year’s mandate to “construct, conserve, create.”
One of the significant achievements stated in the report is the 11 per cent reduction in carbon intensity emissions from the 2007 baseline.
CDL also has 67 Green Mark projects to date, of which a majority are awarded Gold and Platinum by the Building and Construction Authority (BCA). The company is, therefore, truly changing the landscape, said CDL managing director Kwek Leng Joo.
Aside from these two milestones, the report included other highlights such as improved stakeholder engagement, increased efforts to raise awareness with builders about human rights and better labour practices, community initiatives with wider outreach and impact, and updates on corporate governance and policies concerning anti-corruption, fraud and competition.
CDL also noted its placement in the Global 100 Most Sustainable Corporations in the World, an established international listing of companies dedicated to the triple bottom line. The property developer ranked 52nd overall, but placed first among firms in Singapore and Asia excluding Japan.
Kwek said, “We believe that sustainability is integral to business excellence and we challenge ourselves to conduct best practices and conserve resources for future generations to meet their needs.”
The 2013 Sustainability Report was verified by an independent certified sustainability assurance practitioner and reviewed by GRI using a comprehensive framework known as the G3.1 guidelines and the Construction and Real Estate Sector Supplement (CRESS).
