During the inauguration of the Singapore Sustainability Reporting Awards (SSRA) that was held on September 12, Tuesday, the City Developments Limited (CDL) has acknowledged as the ‘Best Sustainability Report for Established Reporters (Mainboard and Catalyst)’.
The SGX-supported awards distinguish excellence among the Mainboard-listed and SGX Catalist-listed establishments that develop sustainability reports as prepared by the EY Singapore and Singapore Institute of Directors (SID).
SSRA’s judging board praised the property inventor for its planned Environmental, Social and Governance (ESG) integration and value conception model as well as for their recently presented sustainability sketch which is the ‘CDL Future Value 2030’.
CDL was also appeared as the Regional Sector Leader for the Office Sector in Asia in this year’s Global Real Estate Sustainability Benchmark (GRESB).
As such, the establishment is recorded on the 12 prominent global sustainability standards, including the Global 100 Most Sustainable Corporations, FTSE4Good Index Series, MSCI Global Sustainability Indexes and Dow Jones Sustainability Indices.
The rising recognition of the planned connection between business sustainability and performance saw the international investment community and governments “progressively holding companies responsible for ESG factors”, according to CDL chief sustainability officer Esther An.
“For example, establishments can no longer disregard the effect of the climate change dangers on their outcome. In some countries like Singapore, establishments that do not accept sustainable practices might face operational or reputational risks that will affect the license to operate, and be exposed to greater operating charges, with the approaching carbon tax and water bill growth.”
Actually, for listed establishments in Asian markets like Singapore, Malaysia, Taiwan, Thailand and Indonesia, sustainability reporting has become obligatory.
Some of CDL current projects include