MANUFACTURED CAPITAL

WorldGBC Net Zero Carbon Buildings Commitment
Scope of CDL’s Net Zero Carbon Commitment

New developments and 13 Singapore assets (as of February 2021)

• 247,016 m² total floor area
• 15,044 tCO₂e portfolio carbon emissions
• 16,922 average kgCO₂e/m² Whole Life Carbon Footprint
• 415 employees

• To achieve net zero carbon with whole life cycle approach for wholly-owned and directly managed buildings in Singapore by 2030
• To achieve maximum reduction of embodied carbon in new developments, compensating for any remaining residual operational and upfront embodied emissions via offsetting for new developments by 2030 and for all buildings to be net zero carbon by 2050

Operationalised revised interim Future Value 2030 Sustainability Blueprint (FV2030) targets in Q3 2022, endorsed by management.

The FV2030 targets have incorporated more stringent SBTi-validated targets based on a 1.5°C warmer scenario, which are integrated with CDL’s carbon reduction pathways mapped under our WorldGBC Net Zero Carbon Buildings Commitment.

• Reduce Scope 1 and 2 greenhouse gas (GHG) emissions by 63% per square metre (per m²) leased area
• Reduce Scope 3^[1] GHG emissions from purchased goods and services by 41% per m² gross floor area (GFA)
• Reduce absolute Scope 3 GHG emissions from investments^[2] by 58.8%, including hotels managed by CDL’s wholly-owned hotel subsidiary, Millennium & Copthorne Hotels Limited (M&C)

• Achieve net zero emissions by 2050
• 2030 Nationally Determined Contribution: Reduce 2030 emissions to 60 MtCO₂e after peaking emissions earlier³

• The Singapore Green Building Master Plan aims to deliver three key targets of “80-80-80 in 2030”
• As of end 2021, 49% of Singapore’s buildings have been greened⁴

80% of Singapore’s buildings (by GFA) to be green by 2030

•  To achieve Building and Construction Authority (BCA) Green Mark certification for 100% of CDL owned and managed buildings by 2030

80% of new developments to be Super Low Energy (SLE) from 2030

• To achieve SLE buildings for 80% of CDL owned and managed buildings by 2030

80% improvement in energy-efficiency (from 2005 levels) for best-in-class green buildings by 2030

• To enhance assets with smart and low-carbon technologies towards BCA Super Low Energy Building (SLEB) certification
•  To continue to invest 2% to 5% of construction cost for new developments in green and healthy design and features

To maintain CDL’s leadership in green buildings, green and healthy features and design have been incorporated into CDL’s standard provision for new developments.

• Introduced the CDL Smart, Sustainable and Super Low Carbon (3S) Green Building Framework in 2020.
• Updated the 3S Green Building Framework in 2021 to include embodied carbon management. This aligns with the WorldGBC’s whole life carbon vision in the expanded Net Zero Carbon Commitment.
• Aligned with refreshed Green Mark 2021 standards.
• In 2022, we appointed an independent consultant for a Whole Lifecycle Assessment (WLCA) pilot to undertake a holistic approach in understanding carbon impact of an asset at both architectural and operational levels, across the building’s entire lifespan and construction. This pilot will consider up to five existing CDL assets and conclude in Q2 2023.

SLEB: CDL attained two SLEB certifications for Newport Plaza (former Fuji Xerox Towers) in 2021 and 2022.

• Newport Residences: Singapore’s first BCA Green Mark Platinum SLE Certification for Residential Building
• 80 Anson Road – Non Residential: Singapore’s first BCA Green Mark Platinum SLE Certification for mixed commercial development (Service Apartment, Offices and Retail)
• Copen Grand: Awarded Singapore’s First BCA Green Mark Platinum SLE Executive Condominium (EC)