Singapore-headquartered developer CapitaLand Investment (CLI) has committed to achieving net-zero emissions by 2050 and will aim to reduce its absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 46%, up from 28%, by 2030 from a 2019 base year.
These new targets to reduce GHG emissions are validated by the Science Based Targets initiative (SBTi) to limit global warming to 1.5 degrees Celsius, in accordance with the goals of the Paris agreement.
CapitaLand is one of the few Singapore-based companies to have SBTi-approved carbon targets aligned to the 1.5 degrees Celsius scenario for its extensive global operations.
CLI’s 2021 Global Sustainability Report details its journey, outcomes and progress towards achieving its sustainability targets. The report highlights:
- Cumulative utilities cost avoidance of S$320 million (US$234 million) due to operational efficiencies
- 52% reduction in water consumption intensity and a 43% reduction in energy consumption intensity per square metre (sqm)
- 54% reduction in carbon emissions intensity
- green building certifications for 48% of its global portfolio by sqm
- close to S$7 billion cumulatively raised through sustainable financing by CLI and its real estate investment and business trusts
- setting of a shadow internal carbon price since 3Q 2021 to gauge the environmental costs of each investment’s GHG emissions and take appropriate mitigation measures accordingly
- maintenance of a diverse global workforce comprising 85 nationalities and 40% of senior management being women
- over 410,000 total training hours and CLI’s ranking as the top employer in the Singapore real estate sector by the Randstad Employer Brand Awards 2021
- garnering commitment from 100% of its contractors and vendors to abide by its supply-chain code of conduct to meet stringent environmental, health and safety requirements.
“Sustainability is at the core of everything we do, and science-based climate action is imperative,” says Lee Chee Koon, group chief executive officer, CLI. “Achieving our new ambition to attain net zero by 2050 requires a myriad of initiatives, and we will continue to regularly report our sustainability performance and impact.”