Singapore developer is top real estate firm in global ESG ranking
Singapore’s City Developments Limited has been rated the most sustainable real estate company in the world for the sixth consecutive year.
The accolade came in the Corporate Knights Global 100 list, now in its 20th year. This annual ranking of the world’s 100 most sustainable corporations is based on the sustainability research firm’s assessment of 6,700 publicly traded companies with revenues over $1 billion.
CDL group chief executive Sherman Kwek said: “We are honoured to be recognised again as the world's most sustainable real estate company on the Global 100 Most Sustainable Corporations in the World listing. This accolade reaffirms our commitment to a climate-positive future and achieving our initial net-zero goals by 2030. By embracing innovation, collaboration and sustainable practices, we can reduce our carbon footprint and inspire a collective shift towards a net zero future."
Companies are assessed across 25 key performance indicators, including their percentage of sustainable revenue and sustainable investment, taxes paid, carbon productivity, and racial and gender diversity. Companies engaging in activities such as thermal coal, blocking climate policy and deforestation are disqualified.
Boosting its position from 28th place last year, CDL improved its performance on energy, greenhouse gas and water productivity, ESG-linked remuneration for management, talent attraction and retention, and a sustainable supply chain.
Developer CDL was ranked 22nd in the list, one of only four real estate companies in the top 100. It was followed by shopping centre giant Unibail-Rodamco-Westfield in 70th place, industrial specialist Prologis in 87th place and Hong Kong developer Sino Land in 99th.
Pictured above, Lumina Grand will be CDL's second BCA Green Mark Platinum (Super Low Energy) building in Singapore.