Strategic Management of Material ESG Issues

Materiality is any factor that can have a present or future impact on CDL’s value creation, and hence our business performance over time. Balancing internal and external viewpoints is therefore critical in defining and managing ESG issues that are of significant relevance to our business and stakeholders.

Since 2008 when we published CDL’s first Global Reporting Initiative (GRI)- checked Social and Environment Report, we have focused our sustainability efforts around material ESG issues by aligning our business perspectives with that of our stakeholders’.

Our materiality also considers the value chain where CDL has considerable influence, but not direct control.

To keep abreast of critical issues, we periodically review our material issues against the changing business landscape, emerging global and domestic trends, regulatory development, as well as stakeholder opinions.

CDL’s Stakeholders

We define our stakeholders as groups whom our business has a significant impact on, and those with a vested interest in our operations. By assessing the significance and impact of their interest on CDL’s business, we have identified seven key stakeholder groups.

Stakeholder Groups Impact and Significance
Our Employees Our employees are part of our human capital and their health and safety, competencies and welfare are fundamental to CDL’s operational effectiveness. We aim to develop their potential to drive innovation, productivity and organisational excellence.
Our Customers Our aim is to create inspiring spaces and deliver quality homes in line with the rising expectations and lifestyle aspirations of tenants and homebuyers. CDL seeks to deliver sustainable solutions and exceptional service levels to benefit our customers.
Our Builders and Suppliers CDL works closely with partners in our value chain to ensure that construction activities are carried out in line with industry safety standards and sustainable building methods.
Our Investors We strive to maximise shareholder returns, maintain good corporate governance, and improve levels of transparency through financial and sustainability reporting and timely communication.
The Government and Regulators Beyond compliance, we partner with key government agencies to jointly elevate industry standards for green building, sustainability practices, as well as health and safety standards.
The Media As news and information outlets are one of the main sources of information for our stakeholders and the public, we aim to engage the media in promoting sustainability and the green building agenda to drive green consumerism.
Our Community Our developments shape public spaces and impact the interaction between people and their broader environment. CDL seeks to create green spaces that promote social integration, and invests in projects that support environmental conservation and community development.

Stakeholder-Driven Materiality

Following CDL’s last materiality assessment in 2014, we did a robust study amongst key stakeholders in November 2017, to reassess and prioritise our material ESG issues. The findings have helped us to fine-tune our sustainability strategy, programmes and focus for this Report.

Using a comprehensive five-stage framework, a list of ESG issues were reviewed against current global and local trends and emerging regulatory development which can have an impact on CDL’s business. These considerations include the Singapore Government’s pledge for the Paris Agreement, incoming carbon tax regime in Singapore, the Building and Construction Authority’s (BCA) green building agenda, and the SDGs, to name a few.

Following the identification stage, an independent sustainability consultant obtained feedback from more than 160 internal and external stakeholders on the importance and relevance of a list of pre-determined ESG issues. Following the methodology of AA1000’s materiality process, 13 critical and highly material issues were prioritised, and further validated by an expert panel comprising senior leaders from the International Integrated Reporting Council (IIRC), World Green Building Council (WGBC) and National University of Singapore (NUS)’s Asia-Pacific Centre for Environmental Law.

After a review by CDL’s Senior Management, the 13 critical and highly material issues were presented to the BSC for resolution in November 2017.

 

 

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CDL’s Material ESG Issues Boundary and Impact GRI Standards Disclosures Addressed in Our Report
1. Innovation All stakeholders across our value chain
  • Construction and Real Estate Sector (CRES): sustainability certification, rating and labelling
Chapter 2: Building Sustainable Cities and Communities
2. Energy Efficiency and Renewable Energy Customers, builders and suppliers, government and regulators, investors, community, and media
  • Energy
  • CRES: building energy intensity
Chapter 3: Reducing Environmental Impact
3. Product Quality and Responsibility Customers, builders and suppliers, government and regulators, investors, community, and media
  • Marketing and labelling
  • CRES: sustainability certification, rating and labelling
Chapter 2: Building Sustainable Cities and Communities
4. Occupational Health, Safety and Well-being All stakeholders across our value chain
  • Occupational health and safety
Chapter 4: Ensuring a Fair, Safe and Inclusive Workplace
5. Anti-corruption All stakeholders across our value chain
  • Anti-corruption
Chapter 4: Ensuring a Fair, Safe and Inclusive Workplace
6. Business Ethics and Compliance All stakeholders across our value chain
  • Anti-competitive behaviour
  • Environmental compliance
  • Socioeconomic compliance
Chapter 4: Ensuring a Fair, Safe and Inclusive Workplace
7. Climate Change Customers, builders and suppliers, government and regulators, investors, community, and media
  • Emissions
  • CRES: building greenhouse gas emissions intensity
Chapter 3: Reducing Environmental Impact
8. Cyber Security and Data Governance Customers, employees, government and regulators, investors, and media
  • Customer privacy
Chapter 4: Ensuring a Fair, Safe and Inclusive Workplace
9. Economic Contribution to Society All stakeholders across our value chain
  • Economic performance
  • Market presence
  • Indirect economic impacts
Chapter 5: Creating Shared Economic and Social Value
10. Product Safety and Customer Well-being Customers, community, government and regulators, investors, and media
  • Customer health and safety
Chapter 2: Building Sustainable Cities and Communities
Chapter 4: Ensuring a Fair, Safe and Inclusive Workplace
11. Responsible Supply Chain and Sourcing Builders and suppliers, community, government and regulators, investors, and media
  • Materials
  • Suppliers environmental assessment
  • Suppliers social assessment
Chapter 3: Reducing Environmental Impact
Chapter 4: Ensuring a Fair, Safe and Inclusive Workplace
12. Talent Attraction, Retention and Development Employees, government and regulators, and investors
  • Training and education
  • Employment
  • Labour/ management relations
Chapter 4: Ensuring a Fair, Safe and Inclusive Workplace
Chapter 5: Creating Shared Economic and Social Value
13. Water Management and Efficiency Customers, builders and suppliers, government and regulators, investors, community, and media
  • Water
  • CRES: building water intensity
Chapter 3: Reducing Environmental Impact