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Singapore manager focuses on Scope 3 emissions

5th June 2024

CapitaLand Investment Limited (CLI) has boosted its reporting of Scope 3 emissions as part of its decarbonisation efforts.

The Singaporean real estate investment manager said incorporated three new Scope 3 categories deemed material to its operations: purchased goods and operations, fuel and energy-related activities, and upstream transportation and distribution.

Vinamra Srivastava, CLI’s chief sustainability and sustainable investments officer, said: “Tightening our focus on Scope 3 emissions is crucial because they account for the majority of CLI’s total greenhouse gas emissions. 

“With tenant emissions being the largest contributor to Scope 3, we are pleased that we have increased green leases with tenants in China and Singapore to 57% as at end Dec 2023 from 43% a year ago, and we'll continue to do so globally.”

Other initiatives outlined in the group’s latest sustainability report include CLI commissioning a captive 21-megawatt solar power plant in Tamil Nadu, India, to power its assets there. At the end of 2023, 60% of buildings in CLI’s global portfolio had attained green ratings and the group is targeting 100% certification by 2030. 

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