ON TRACK TO ACHIEVING FUTURE VALUE 2030 GOALS AND ANNUAL TARGETS
The CDL Future Value 2030 Sustainability Blueprint, established in 2017, outlines our environment, social and governance (ESG) goals, including near and long-term net-zero targets in line with the Science Based Targets initiative (SBTi). Our key 2030 and interim annual goals, targets and progress are tracked and reported quarterly and annually. All target years are fiscal year-end. All reporting data is through fiscal year 2025 (31 December 2025), unless otherwise stated. The scope of the Company’s operations in the Future Value 2030 table below covers corporate office, managed buildings and construction sites in Singapore, and exclude hotel properties, unless otherwise stated.
Legend Progress Tracking
Meeting interim targets, maintain performance towards meeting 2030 targets
Falling short of interim target for one year, review current practices
Falling short of interim target for more than two years, review and revise targets (if necessary)Please slide left to view more.
| Future Value 2030 Goals | 2030 Targets1 | INTERIM 2025 ANNUAL TARGETS1 | 2023–2025 Performance |
Goal 1: Building Sustainable Cities and Communities |
Achieve Green Mark certification for 100% of CDL owned and/or managed buildings2 | ≥90% | 2023: 100% achieved 2024: 100% achieved2025: 100% achieved |
| Maintain 100% retail and office tenant participation in CDL Green Lease Partnership Programme | Achieve 100% | 2023: 100% maintained 2024: 100% maintained2025: 100% maintained |
|
| Maintain high level of commitment to adopt innovations and technology of green buildings | Average of two innovation and technology applications per year | 2023: Average of two applications per year 2024: Average of two applications per year2025: Average of two applications per year:1. IoT-based Optimisation and Energy Monitoring Platform 2. Anti-Microbe Silver Ion Coating |
|
| Maintain high level of sustainability engagements and advocacy activities | Average of ≥ 36 engagements and advocacy initiatives and activities per quarter | 2023: Average of 75* initiatives and activities per quarter 2024: Average of 91* initiatives and activities per quarter2025: Average of 130 initiatives and activities per quarter |
|
Goal 2: Reducing Environmental Impact |
Achieve science-based target of reducing carbon emissions intensity by 63% from 2016 levels3 | 2023: 27% reduction 2024: 30% reduction 2025: 30% reduction |
2023: 33% reduction 2024: 25% reduction2025: 29% reduction4 |
| Corporate Office: | |||
| Reduce energy use intensity by 63% from 2016 levels | 2023: Energy use intensity: 14% reduction 2024: Energy use intensity: 16% reduction 2025: Energy use intensity: 14% reduction |
2023: 14% reduction 2024: 12% reduction42025: 20% reduction |
|
| Asset Management (AM)5: | |||
| Reduce energy use intensity by 55.7% from 2016 level | 2023 – 2024: NA 2025: Energy use intensity: 29% reduction |
2023 – 2024: NA 2025: 22.3% reduction4 |
|
| Asset Management (AM) – Office and Industrial3,6: | |||
| Reduce water use intensity by 9.5% from 2016 levels | 2023: Water use intensity: 2% reduction 2024: Water use intensity: 20% reduction 2025: Water use intensity: 22.5% reduction |
2023: 20.3% reduction 2024: 23.5% reduction2025: 28.6% reduction |
|
| Reduce waste intensity by 8% from 2016 levels7 | 2023: Waste intensity: Limit increase to less than 17% reduction 2024: Waste intensity: 8% reduction 2025: Waste intensity: 8% reduction |
2023: 22% reduction 2024: 19% reduction2025: 13% reduction |
|
| Asset Management (AM) – Retail3: | |||
| Reduce water use intensity by 10.8% from 2016 levels | 2023: Water use intensity: 9.5% reduction 2024: Water use intensity: 39% reduction 2025: Water use intensity: 37.4% reduction |
2023: 43.9% reduction 2024: 36.9% reduction42025: 39.9% reduction |
|
| Reduce waste intensity by 5% from 2016 levels7 | 2023: Waste intensity: Limit increase to less than 8% 2024: Waste intensity: 2% reduction 2025: Waste intensity: 3% reduction |
2023: 2% reduction 2024: 9% reduction2025: 5% reduction |
|
| Property Development (PD)8: | |||
| Achieve an energy use intensity of 95 kWh/m2 | 2023: Energy use intensity: ≤105 kWh/m2 2024: Energy use intensity: ≤105 kWh/m2 2025: Energy use intensity: ≤105 kWh/m2 |
2023: 3 out of 4 TOP projects did not meet target 2024: 1 out of 1 TOP project met target2025: 2 out of 2 TOP projects met target |
|
| Achieve a water use intensity of 1.54 m3/m2 | 2023: Water use intensity: ≤1.72 m3/m2 2024: Water use intensity: ≤1.72 m3/m2 2025: Water use intensity: ≤1.72 m3/m2 |
2023: 2 out of 4 TOP projects did not meet target 2024: 1 out of 1 TOP project met target2025: 2 out of 2 TOP projects met target |
|
| Achieve a waste intensity of 40 kg/m27 | 2023: Waste intensity: ≤47.5 kg/m2 2024: Waste intensity: ≤47.5 kg/m2 2025: Waste intensity: ≤47.5 kg/m2 |
2023: 1 out of 4 TOP projects did not meet target 2024: 1 out of 1 TOP project met target2025: 2 out of 2 TOP projects met target |
|
| Ensure 100% of appointed suppliers9 are certified by recognised EHS standards | 2023: ≥90% of suppliers appointed by AM; 100% of main contractors and ≥90% of key consultants appointed by PD 2024: 100% of vendors appointed by AM; 100% of main contractors and ≥90% of key consultants appointed by PD 2025: 100% of vendors appointed by AM; 100% of main contractors and ≥90% of key consultants appointed by PD |
2023: 100% of AM appointed vendors; 100% of main contractors and key consultants appointed by PD 2024: 100% of AM appointed vendors; 100% of main contractors and key consultants appointed by PD2025: 100% of AM appointed vendors; 100% of main contractors and key consultants appointed by PD |
|
| Reduce embodied carbon of building materials by 41% compared to 2016 baseline | 2023: 21% reduction for new projects awarded from 2018 onwards 2024: 33% reduction for new projects awarded from 2018 onwards 2025: 25% reduction compared with 2016 baseline |
2023: 33% reduction compared to 2016 baseline 2024: 38% reduction compared to 2016 baseline2025: 50% reduction compared to 2016 baseline |
|
| Investments10: | |||
| Reduce absolute scope 3 GHG emissions by 58.8% by 2030 from a 2016 base year | 2023: 29% reduction 2024: 34% reduction 2025: 39% reduction |
2023: 61.6% reduction 2024: 52.1% reduction2025: 59.6% reduction |
|
Goal 3: Ensuring a Fair, Safe and Inclusive Workplace |
Maintain zero corruption and fraud incidents across CDL’s core operations | Zero | 2023: Zero incidents 2024: Zero incidents2025: Zero incidents |
| Maintain zero fatality across CDL’s operations and direct suppliers in Singapore | Zero | 2023: 1 fatality 2024: Zero fatality2025: Zero fatality |
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| Maintain zero occupational disease across CDL’s operations and direct suppliers in Singapore | Zero | 2023: Zero occupational disease 2024: Zero occupational disease2025: Zero occupational disease |
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| Maintain a Major Injury Rate (Major IR)11 of 10.0 across CDL’s operations and direct suppliers in Singapore | 2023: ≤15.3 2024: ≤14.5 2025: ≤13.1 |
2023: Zero Major IR 2024: Zero Major IR2025: Zero Major IR |
|
| Maintain a Minor Injury Rate (Minor IR)11 of 460.0 across CDL’s operations and direct suppliers in Singapore | 2023: ≤593.0 2024: ≤574.0 2025: ≤516.6 |
2023: 209.9 Minor IR 2024: 395.9 Minor IR2025: 185.5 Minor IR |
|
| Notes | |
| * | In 2023, average initiatives and activities per quarter has been restated from 71 to 75 due to the addition of CDL Green Gallery engagements, and revision in the tabulation of CSO’s speaking engagements. In 2024, average of initiatives and activities per quarter has been restated from 70 to 91 due to the addition of CDL Green Gallery engagements, and revision in the tabulation of CSO’s speaking engagements. |
| 1 | The 2030 targets and interim 2025 annual targets were reviewed in April 2025 and reflected in the table above. |
| 2 | Calculated based on % of total gross floor area (aligned with Building and Construction Authority’s (BCA) calculation of green buildings). |
| 3 | Intensity figures were calculated based on per unit net lettable floor area. |
| 4 | Overall, the FY2025 performance was impacted by the divestment of the low energy use intensity and low-carbon assets, higher occupancy and mall activities, warmer weather increasing cooling demand, and higher diesel usage in 2H 2025. |
| 5 | Starting from 2025, Asset Management’s energy consumption target and performance is combined into a single value (previously split into Office & Industrial, and Retail separately) to be in alignment with the single carbon emissions intensity reduction targets. |
| 6 | Water use and waste intensities include water use and waste disposed of by CDL Corporate Office. |
| 7 | Waste intensity figures are for non-recyclable waste. |
| 8 | For projects that obtained TOP status for the reporting year – Copen Grand and Tembusu Grand. From 2025 onwards, energy, water and waste intensities’ targets and performance will be measured on a Statistical Gross Floor Area (SGFA) basis. Interim 2025 annual targets set for energy, water and waste intensities will be applied to projects commencing in FY2025. |
| 9 | These refer to vendors engaged for proprietary equipment service and maintenance, facility management, security and cleaning service appointed by Asset Management, and main contractors and key consultants (architects, civil and structural engineers, mechanical and electrical engineers) appointed by Property Development Division. |
| 10 | Investment refers to the Group’s five key subsidiaries: CBM Pte Ltd, City Serviced Offices, Le Grove Serviced Residences, Tower Club Singapore, hotels owned and managed, and managed by Millennium & Copthorne Hotels Limited (M&C). |
| 11 | Major and Minor IR refer to the number of major and minor workplace injuries per 100,000 persons employed, respectively. For the definition of Major and Minor IR, please refer to the Ministry of Manpower’s website |