Capitalising on sustainability helps build business resiliency

The year was 1995 and property developer City Developments (CDL) had just established a new ethos: Conserving as we construct. With this, the company was looking to create greater value for its business and various stakeholders through a strategic integration of environmental, social and governance (ESG) investing, CDL’s chief sustainability officer Esther An tells The Edge Singapore.

At that time, the concept of “sustainability” and “climate change” were not as pressing as they have since become. However, the company felt a strong push in this direction as it “was clear that the industry practices in our part of the world were not the most environmentally friendly,” elaborates An. With studies showing the importance and appreciation people have for real estate — especially since the average person spends around 90% of their time either in office, at home or at entertainment spaces — this seemed like the right path to pursue.

Even though the importance of ESG was not as well known then, getting CDL’s stakeholders on board this move was relatively seamless. “We have always believed in collective action,” she says, adding that ideas, action and impact tend to be amplified through collaborations and partnerships.

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