DECARBONISATION – ACHIEVING NET ZERO IN PHASES BY 2030 AND 2050

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Net Zero Commitment CDL’s Commitment Action Taken Achievements

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
The following targets have been set and endorsed by our top management to take our green building ambitions to the next level:

  • 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
In 2022, we updated our interim annual targets since SBTi’s successful validation of our carbon reduction targets in 2021.

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.

One of over 50 global corporations to commit to greater action in strengthening climate policy engagement, in line with the Paris Agreement at the COP27.
By 2030, against a 2016 base year, we will:

  • 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)
2021: Renewed SBTi-validated targets aligned with a 1.5°C warmer scenario
2019: One of 87 pioneering signatories to the Business Ambition for 1.5°C campaign led by UN Global Compact (UNGC), SBTi and We Mean Business coalition
2018: First real estate company in Singapore to set SBTi-validated targets based on a 2°C warmer scenario 2022

  • 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
The following targets have been set and endorsed by our top Management, to take our green building ambitions to the next level:

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.
Green Mark: CDL has amassed a portfolio of 120 BCA Green Mark certifications for our developments and office interiors. This makes us one of the leading private developers with the most BCA Green Mark Platinum awards since the launch of this scheme in 2005.

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)

 

[1] SBTi only requires companies’ scope 3 targets to cover 66% of their scope 3 emissions. For CDL, category 1 (purchased goods and services) and category 15 (investments) have reduction targets as these categories cover more than 80% of our scope 3 emissions.
[2] Investment refers to CDL’s six key subsidiaries: CBM Pte Ltd, CDL Hospitality Trusts, City Serviced Offices, Le Grove Serviced Residences, Tower Club Singapore, hotels owned and managed by M&C.
3 Singapore Commits to Achieve Net Zero Emissions by 2050 and to a Revised 2030 Nationally Determined Contribution; Public Sector and Jurong Lake District to Lead, NCCS Singapore, 25 October 2022
4 “Green Building Masterplans”, Building and Construction Authority (BCA), 2022

 

3S Green Building Framework

Introduced in 2020, the CDL Smart, Sustainable and Super Low Carbon (3S) Green Building Framework is a key enabler founded on two critical drivers – innovation and digitalisation – to support CDL’s business growth and transition to net zero operation. This holistic framework is aligned with the BCA Super Low Energy (SLE) buildings requirements, as well as international standards for advancing health and well-being in buildings. In 2021, the 3S Green Building Framework was updated to include embodied carbon management. This aims to align with the WorldGBC’s whole life carbon vision in the expanded Net Zero Carbon Commitment.5

5 Advancing Net Zero. World Green Building Council, 29 November 2021.