CapitaLand Investment commits to Net Zero by 2050

New Net Zero Commitment builds on existing sustainability goals set out in CapitaLand’s 2030 Sustainability Master Plan[3] unveiled in October 2020. This includes accelerating the transition to a low-carbon business, improving water conservation and resilience, and building a circular economy.

CLI today announced its Net Zero Commitment alongside the release of its 13e Global Sustainability Report that covers its sustainability performance in 2021. CLI is on track to achieve its Net Zero commitment as well as its 2030 sustainability master plan targets.

M Lee Chee KoonGroup Chief Executive Officer, CLI, said: “Sustainability is at the heart of everything we do, and science-based climate action is imperative. We are aware of our responsibility not only to contribute to that of Singapore Goals of net zero carbon, but also transitioning to a low carbon business in the communities in which we operate around the world. Achieving our new ambition to reach Net Zero by 2050 requires a myriad of initiatives and we will continue to report regularly on our sustainability performance and impact. CapitaLand’s sustainability journey began over 20 years ago and today we are recognized as a global leader in sustainability in the real estate industry. We appreciate the trust and support of our stakeholders as we continue to do good and good, as we do well.”

Mrs Lynette LeongChief Sustainability Officer, CLI said: “In our journey to Net Zero, we have integrated environmental, social and governance (ESG) factors and the objectives of our 2030 sustainability master plan into the investment, CLI supply and operational. sustainability return measurement that includes interest rate savings from our sustainability-related loans and utility cost avoidance to measure the value created through our sustainability efforts. 50 million Singapore dollars CapitaLand Innovation Fund, supports the testing and implementation of new sustainability-related technologies from around the world through our annual CapitaLand Sustainability X Challenge (CSXC) and other grassroots initiatives, and which at in turn accelerate the achievement of our sustainability goals. To further demonstrate our commitment, sustainability and climate performance targets are also linked to our senior management’s compensation.”

CLI’s Carbon Emissions Mitigation Strategy to Net Zero by 2050 is prioritized as such:

  1. Reduce energy consumption and improve energy efficiency through innovative building designs and engineering solutions. This includes optimizing and upgrading major building systems to reduce on-site electricity consumption. CLI will also deliver breakthrough sustainability technologies globally through CSXC.
  2. Intensify its deployment and use of on-site renewable energy where possible.
  3. Buy green energy in markets where legislation permits.
  4. Only use renewable energy certificates as a last resort.

Highlights of CLI’s Sustainability Report

CLI’s 2021 Global Sustainability Report details its journey, results and progress towards achieving its sustainability goals and is externally assured to the AA 1000 assurance standard. Highlights include:

  • Cumulative utility cost avoidance of 320 million Singapore dollars[4] due to operational efficiency.
  • 52% reduction in water consumption intensity and 43% reduction in energy consumption intensity per square meter (m²)[4]exceeding its 2030 Sustainable Development Master Plan target by 7 and 8 percentage points respectively.
  • 54% reduction in carbon emissions intensity[4].
  • Achieved green building certifications for 48% of CLI’s global portfolio per m².
  • CLI and its property investment funds and commercial funds have raised almost 7 billion Singapore dollars cumulatively through sustainable funding.
  • Set a shadow internal carbon price from the 3rd quarter of 2021 to assess the environmental costs of greenhouse gas emissions of each investment and take appropriate mitigation measures accordingly.
  • Maintained a diverse global workforce comprising 85 nationalities and 40% of senior management being women.
  • Completed more than 410,000 total training hours and was ranked as the best employer in the real estate sector in the Randstad Employer Brand Research Award 2021 – Singapore.
  • Obtained 100% commitment from CLI’s subcontractors and suppliers to abide by CapitaLand’s supply chain code of conduct to meet stringent environmental, health and safety requirements.

In 2021, CLI increased its use of renewable energy to approximately 4.3% (47,800 MWh) of its total electricity consumption. This has mitigated approximately 28,960 tonnes of carbon emissions, equivalent to the electricity consumption of 10,608 households per year[5]. This was awarded to 21 properties in Singapore, China, Australia, Belgium, India, UK and seven business parks in India that were fully or partially powered by renewable energy through on-site renewable energy systems or the purchase of fully or partially green energy. CLI aims to increase its total electricity consumption from renewable energy sources to 35% by 2030.

CapitaLand Recognized for Leadership in Global Sustainability

CapitaLand’s sustainability leadership and efforts continue to be recognized by industry as well as prestigious international indices and benchmarks such as the “Global 100 Most Sustainable Corporations in the World Index” and the “Dow Jones Sustainability World Index’ for 10 years, and ‘Global Real Estate Sustainability Benchmark’ for four years.

CapitaLand has been recognized for its comprehensive sustainability strategies and results guided by its 2030 Sustainability Master Plan. built environment sector by a Singapore– real estate company whose head office is. Six selected innovations from the first CSXC are being piloted at CapitaLand properties in Singapore and United States. These promising innovations can be further extended to boost CapitaLand’s efforts to achieve the goals of its 2030 Sustainability Master Plan and impact the wider built environment. The second CSXC 2022 is currently underway and has received over 340 submissions from over 50 countries.

CapitaLand has also set up a 50 million Singapore dollars innovation fund and the Smart Urban Co-Innovation Lab to foster more industry collaborations, engaging more than 700 companies to catalyze more urban solutions.

About CapitaLand Investment Limited (www.capitalandinvest.com)

Based and listed at SingaporeCapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia anchoring. Like a March 31, 2022CLI had about 124 billion Singapore dollars real estate assets under management, and approximately 86 billion Singapore dollars of real estate funds under management (FUM) held via 6 sicafi and listed real estate investment funds, and 29 private funds through Asia Pacific, Europe and the United States. Its diversified real estate asset classes span integrated developments, retail, office, hospitality, business parks, industrial, logistics and data centers. Follow @CapitaLand on social media

[1] The Science Based Targets Initiative (SBTi) encourages ambitious climate action in the private sector by enabling organizations to set science-based emission reduction targets. For more information, go here

[2] In 2020, CapitaLand was the first real estate company in Asia (excluding Japan), and in Singapore to have its carbon emission reduction targets validated by SBTi for a “well below 2 degrees Celsius” scenario.

[3] For more information on CapitaLand’s 2030 Sustainability Master Plan, please visit here

[4] Using 2008 as a reference

[5] The average annual consumption of a four-room HDB household is based on 2021 energy statistics from the Energy Market Authority of Singapore

SOURCE Capital Land

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