City Developments (CDL) has ranked 5th in the 2022 Global 100 Most Sustainable Corporations in the World index, jumping from its 40th position last year.
The accolade was announced virtually on Jan 19 at Corporate Knight’s 18th Annual Global 100 Launch.
CDL has been included in the Global 100 ranking for 13 consecutive years. The company remained as Singapore’s most sustainable company in the world, a position held for the fourth consecutive year.
CDL CEO Sherman Kwek said its unwavering commitment continuously spurs the company to set new benchmarks, such as including embodied carbon in our net-zero targets. “As we join the global momentum towards net zero and do our part in decarbonising the environment, we hope to see more companies join the collective effort.
“Only by working with our partners and stakeholders can we positively impact our value chain. Together, we can build a more resilient and sustainable future.”
Corporate Knights CEO Toby Heaps said the firm is pleased to see the long-term Global 100 company break into the top five this year, as part of a growing contingent from the Asia-Pacific region as well as the top-ranked real estate and leasing company.
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“With more than 80% of its revenue coming from clean and energy-efficient building construction and management, CDL is showing global leadership in addressing the major carbon impact of our built environment,” said Heaps.
In a statement, CDL said it will strengthen its emissions pathways and carbon reduction efforts to achieve its net-zero target by 2030. The company will also continue to leverage existing and emerging technological innovations to reduce building energy consumption.
The Global 100 index, which assesses nearly 7,000 public companies with revenue over US$1 billion, also includes StarHub and CapitaLand Investment, ranking at 72nd and 75th place respectively.
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StarHub ranked higher this year compared to last year's 80th position and received the honour for being world’s most sustainable wireless telecommunications service provider, while CapitaLand dropped from the 58th position.
Veronica Lai, StarHub's chief corporate officer, says climate change is an urgent reality, which calls for companies to act effectively and make a meaningful difference.
"Being a sustainable and responsible stakeholder is a core value for us, bringing together our entire team, our customers, and our shareholders, and is at the heart of all that we do," says Lai.
Lai notes that sustainability practices are embedded in the company's day-to-day business operations, and is even featured as a key prong of its DARE+ five-year transformation.
"Sustainability is also a cornerstone of our engagement with customers, matching their needs and working to ensure that they are protected with cyber security, data privacy, and other responsible business practices," says Lai.
Lynette Leong, CLI's chief sustainability officer, says that the company "constantly pushes boundaries to accelerate" its efforts in achieving its 2030 Sustainability Master Plan.
"To this end, we are advancing towards being a low-carbon business through the use of renewable energy in operating our properties, intensifying our global search for innovations through our CapitaLand Sustainability X Challenge and stepping up our adoption of sustainable finance, among others," says Leong.
"We look forward to continuing our collaborations with like-minded innovators and partners to build a more sustainable planet for future generations," she adds.
