Achieves cumulative utility costs 320 million Swedish dollars through reduction in carbon emissions, energy intensity and water intensity
SINGAPORE, June 1, 2022 / PRNewswire / – CapitalLand Investment Limited (CLI) has stepped up its commitment to sustainability, aiming to achieve zero emissions by 2050. To meet this commitment, CLI aims to reduce absolute GHG emissions 1 and 2 by 46% from 28% by 2030 from base year 2019. These new GHG reduction targets have been confirmed by the Science Based Targets initiative (SBTi) to limit global warming to 1.5 ° C in line with Paris Agreement. CapitalLand is one of the few SingaporeThe companies based will have SBTi approved carbon targets under the 1.5 ° C scenario for their extensive global operations.
Net Zero’s new commitment builds on existing sustainability goals outlined in CapitalLand’s 2030 Master Plan for Sustainability open in October 2020. This includes accelerating the transition to a low-carbon business, improving water savings and sustainability, and creating a circular economy.
CLI announced its commitment to Net Zero today in tandem with the publication of its 13thth The Global Sustainability Report, which covers the results of work in the field of sustainable development for 2021. CLI is on track to meet its Net Zero commitments as well as its 2030 Master Plan Sustainable Development Goals.
Sir Lee Chi KunThe group’s chief executive, CLI, said: “Sustainability is at the heart of everything we do, and science-based action on climate is necessary. We are aware of our responsibility not only to promote Singaporean Zero-carbon goals as well as the transition to a low-carbon business in the communities in which we operate around the world. Achieving our new ambitions to achieve Net Zero by 2050 requires many initiatives, and we will continue to report regularly on the results and impact of sustainable development. CapitaLand’s journey in sustainable development began more than 20 years ago, and today we are well recognized as a world leader in sustainable development in the real estate industry. We value the trust and support of our stakeholders as we continue to do good and do the right thing as we do good. ”
Madam Lynette LeongChief Executive Officer for Sustainability, CLI said: “On our path to Net Zero we have integrated environmental, social and governance factors (ESGs) and goals into our 2030 Master Plan for Sustainability in CLI’s investment, procurement and operational processes. We have opened a patented an indicator of the profitability of sustainable development, which includes saving interest rates on our sustainability-related loans and avoiding the cost of utilities to measure the value created by our sustainability efforts. 50 million Swedish dollars The CapitaLand Innovation Foundation supports the testing and implementation of new sustainability technologies gained worldwide through our annual CapitaLand Sustainability X Challenge (CSXC) and other initial initiatives, which in turn accelerate the achievement of our sustainability goals. To further demonstrate our commitment, the Sustainability and Climate Targets are also linked to our top management award. ”
The CLI strategy to reduce carbon emissions to Net Zero by 2050 is defined as follows:
- Reduce energy consumption and increase energy efficiency through innovative building projects and engineering solutions. This includes optimizing and upgrading major building systems to reduce on-site electricity consumption. CLI will also be a source of innovative sustainability technologies worldwide through CSXC.
- Intensify its deployment and use of renewable energy sources where possible.
- Purchase green energy in markets where legislation allows.
- Use renewable energy certificates only as a last resort.
Highlights of the CLI Sustainability Report
CLI Global Sustainability Report 2021 details its path, results and progress in achieving its sustainability goals and has external guarantees in accordance with AA 1000 Assurance standards. Highlights include:
- Accumulated savings on utilities have been achieved 320 million Swedish dollars due to operational efficiency.
- Achieved reduction of water consumption by 52% and reduction of energy consumption by 43% per square meter (sq.m)which exceeds the target of the Master Plan for Sustainable Development until 2030 by 7 and 8 percentage points, respectively.
- Achieved a reduction in carbon emissions by 54%..
- Received green building certificates for 48% of the global CLI portfolio per square meter.
- CLI and its real estate investment trusts and business trusts have risen close to 7 billion Swedish dollars cumulatively through sustainable funding.
- Set a shadow domestic carbon price from Q3 2021 to estimate the environmental cost of greenhouse gas emissions of each investment and take appropriate mitigation measures.
- Supported by a diverse global workforce consisting of 85 nationalities, and 40% of senior management are women.
- Achieved a total of more than 410,000 training hours and became the best employer in the real estate sector in the Randstad Employer Brand Research Award 2021 – Singapore.
- Received commitment from 100% of CLI contractors and suppliers to comply with CapitalLand’s Code of Conduct on supply chains to meet stringent environmental, health and safety requirements.
In 2021, the CLI increased the use of renewable energy sources to about 4.3% (47,800 MWh) of total electricity consumption. This has helped reduce around 28,960 tonnes of carbon dioxide emissions, which is equivalent to electricity consumption in 10,608 households each year.. This was attributed to 21 facilities in Singapore, China, Australia, Belgium, India, United Kingdom and seven business parks India who have fully or partially operated from renewable energy sources through on-site renewable energy systems or have acquired full green or partial green energy. CLI aims to increase overall renewable energy consumption to 35% by 2030.
CapitalLand is recognized for its leadership in sustainability worldwide
CapitaLand’s leadership and efforts in sustainable development continue to be recognized by the industry, as well as by prestigious international indices and benchmarks such as the Global Index of the 100 Most Sustainable Corporations in the World and the Dow Jones World Sustainability Index for 10 years. Global Sustainable Development Index »An indicator of real estate sustainability over four years.
CapitalLand has been recognized for its comprehensive sustainable development strategies and outcomes driven by its 2030 Master Plan for Sustainable Development. This includes industry-first and innovation initiatives such as CSXC, the world’s first sustainability-focused innovation challenge for the environmental sector. Singapore– the headquarters of the real estate company. Six selected innovations from the inaugural CSXC are piloted at CapitalLand’s facilities Singapore and USA. These promising innovations can be expanded to intensify CapitalLand’s efforts to meet the 2030 Master Plan targets and have an impact on the wider development environment. The second CSXC 2022 is now underway and has received more than 340 applications from more than 50 countries.
CapitalLand also created a 50 million Swedish dollars innovation fund and the Smart Urban Co-Innovation Lab to promote collaboration in industries, attracting more than 700 companies to catalyze more urban solutions.
About CapitalLand Investment Limited (www.capitalandinvest.com)
Headquarters and listed in SingaporeCapitalLand Investment Limited (CLI) is the world’s leading real estate investment manager (REIM) with a strong Asia reference point. As on March 31, 2022CLI was about 124 billion Swedish dollars properties that are under management, and about $ 86 billion Managed Real Estate Funds (FUM), which are in the six listed real estate investment funds and business trusts, as well as 29 private funds around Asia-Pacific region, Europe and the United States. Its diversified real estate classes cover integrated buildings, shopping, office, residential, business parks, industrial, logistics centers and data centers. Follow @CapitaLand on social media
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