Sustainable Company Awards 2022

Net zero progression of the year, APAC: City Developments

Reaching global net zero cannot only be achieved in the energy grid alone. Instead, heavy emitting industries such as infrastructure and real estate will also have to play a crucial role in delivering significant emissions reductions across both new and existing developments.

Singaporean real estate conglomerate City Development (CDL) is aware of the challenge ahead and has begun to make the changes needed to reach its 2030 carbon neutrality target. By signing the World Green Building Council commitment in 2021, it became the first real estate company in Southeast Asia to commit to such a target.

The conglomerate's Green Building and Technology Application team is not only looking at existing methods to deliver this target. Instead, it is working with research institutions to roll out scalable developmental technology which will help reduce its emissions across the design, construction or long-term management of its assets.

This has helped the company achieve its aim of delivering a building certified as Super Low Energy, two years ahead of schedule.

The firm also invests in venture capital funds which aim to accelerate the implementation of sustainability-focused innovations.

Scaling up its activities on real-world emissions reductions has also led the company to increase its long term emissions reductions targets in the last year, which have been verified by the Science Based Targets initiative (SBTi).

CDL said it will continue to step up its decarbonisation ambition over the next few years. This includes creating a carbon offset plan and establishing ESG and nature-related reporting and disclosure requirements across all of its assets.