24 January 2017
UNEP FI is very pleased to welcome its first Singapore-based member, City Developments Limited (CDL), one of Singapore’s largest companies by market capitalization. CDL is an international real estate and hotel conglomerate, with a track record of over 50 years in real estate development, investment and management.
As one of Singapore’s largest commercial landlords, CDL has developed over 36,000 homes and has been leveraging its assets to grow its real estate funds management business. It currently has over S$3.5 billion in assets under management.
In 1995, CDL transformed its business model to one that “conserves as it constructs” as a developer, asset owner and property manager. In 2015, it marked its 20-year sustainability journey by enhancing its strategy of greater integration of ESG into its financial and business performance. The aim is to ‘Create Future Value’ for its business, its investors and stakeholders as well as the environment at large.
Its unwavering commitment to green building and sustainability integration has been widely recognised. CDL is the first Singapore corporation to be listed on four of the world’s leading sustainability benchmarks: FTSE4Good Index Series (since 2002), MSCI ESG Indexes (since 2009), the Global 100 Most Sustainable Corporations in the World (since 2010), and the Dow Jones Sustainability Indices (since 2011). It is also the only Singapore company to be included as a constituent of the Global Compact 100 Index since 2014.
“CDL is honoured to be the first UNEP FI member in Singapore. Our commitment to sustainable development and advocacy is founded on our understanding that buildings have high carbon and environmental footprints. We believe that apart from investing in green infrastructure, it is as important to engage our supply chain, our tenants and the users of our buildings, as well as the community at large to realize our vision of ESG integration. With the ever-changing global landscape and financial markets, the ability of a company to achieve sustained growth and create long term value for our stakeholders – and in particular our investors – is critical. We look forward to sharing our on-the-ground experience in Asia to realise the common goal of bringing systemic change in support of a sustainable world for all,” said Esther An, Chief Sustainability Officer, CDL.
With more than 20 years of sustainability excellence in the property sector, CDL will enrich UNEP FI’s work in the area of sustainable real estate investment, sustainability reporting, as well as stakeholder engagement.
For more information on CDL, visit their website here.