ADDING PURPOSE TO STRENGTHEN CDL’S TRIPLE BOTTOM LINE
Embracing 14 out of 17 UN Sustainable Development Goals (SDGs) has sharpened our sustainability strategy and strengthened our triple bottom line, creating long-term value and future-readiness for our operations. In light of the global race to zero, investor and consumer activism and more vigorous regulatory changes, the success of businesses has gone beyond short-term profits. Pursuing sustainability has proven to enhance resilience, mitigate risks and future-proof businesses through risk adaptation.
VALUE CREATION MODEL
CDL’s value creation business model is anchored on our ethos of “Conserving as We Construct” since 1995. The model encapsulates our role as a developer, an asset owner and a corporate citizen, and guides us in creating sustained value for our business and our stakeholders. Leveraging on six capitals – financial, organisational*, natural, manufactured, human and social & relationship, our business operations and sustainability advocacy is well-aligned with 14 UN SDGs.
What gets measured gets managed. CDL’s robust sustainability reporting has effectively helped the company to set targets, track performance, identify gaps for continual improvement to deliver the best results and practices. CDL has created a unique blended framework using GRI Standards as our core since 2008, adding CDP since 2010, Global Real Estate Sustainability Benchmark (GRESB) since 2013, Integrated Reporting Framework since 2015, SDG Reporting since 2016, TCFD framework since 2017, SBTi since 2018, SASB Standards and Climate Disclosure Standards Board (CDSB) Framework since 2020.
Based on our experience in publishing 16 sustainability reports, CDL supports the formation of the International Sustainability Standards Board (ISSB) in providing a unified sustainability reporting framework that aims to fulfil the needs of investors and various stakeholders for credible, consistent, and comparable data. We have combined the nine components of our CDL blended reporting framework into two pillars – capturing the ‘value’ and the ‘impact’ our business creates.
External assurance is key to enhance data credibility and instill confidence in readers. CDL’s external assurance of our sustainability report started in 2009 and has continued to expand. ISR 2022 and ISR 2023’s external assurance has been further elevated in its scope against the GRI Standards, SASB Standards, as well as the TCFD and CDSB frameworks.
|*||Organisational capital will be reflected as Intellectual capital in the next ISR.|
CDL FUTURE VALUE 2030 SUSTAINABILITY BLUEPRINT
Established in 2017, the CDL Future Value 2030 Sustainability Blueprint sets goals for our integrated sustainability strategy towards 2030 — a milestone year for UN SDGs and the net zero climate agenda. Since July 2017, we have also been voluntarily publishing an online quarterly sustainability report, with our Group CEO as the advisor, to update stakeholders of our progress towards key goals and targets that are set under the Blueprint. CDL’s performance in line with the CDL Future Value 2030 Sustainability Blueprint are detailed in Chapter 3: Impact on Performance and Profit.
Anchored on the Four ‘I’ Pillars to Achieve Three Deliverables
Our value creation business model is anchored on four key pillars — Integration, Innovation, Investment, and Impact — which has helped us maintain a strong foundation for further business advancement and operational efficiency. This approach has helped CDL achieve three deliverables: “Decarbonisation”, “Digitalisation and Innovation” and “Disclosure and Communication”. Coupled with our ethos of “Conserving as We Construct”, this has positioned CDL well in the race to zero.