NATURAL CAPITAL

BIODIVERSITY CONSERVATION

Protecting Biodiversity And Natural Habitats

The Company remains steadfast in upholding our longstanding commitment to minimising and mitigating the impact of our developments on natural habitats and protecting wildlife biodiversity. With the increasing international consensus that climate and biodiversity issues should be viewed as one, our Future Value 2030 Sustainability Blueprint, which is aligned with the UN SDGs, includes Goal 15: Life on Land. The Company’s dedicated Biodiversity Policy ensures close alignment with international developments such as the launch of a Global Biodiversity Framework¹ and industry consultations for disclosure frameworks like TNFD. Our Biodiversity Policy is dedicated to promoting biodiversity protection and urban greenery across our operations and complements Singapore’s “City in Nature” vision. It also takes reference from national frameworks, such as the BIA guidelines introduced by URA and NParks in October 2020.

In Singapore, all land use is controlled and allocated by the URA, which ensures quality living, development, and sustainability of Singapore’s existing green landscape. The Company’s development projects are housed within the land allocated by the URA and hence, none of our projects are located in protected areas.

Urban greenery and landscaping are hallmarks of the Company’s developments. More site area for landscaping than mandatory softscape requirements² and communal facilities are devoted to all the Company’s new residential developments. Since 2010, the Company has been voluntarily conducting BIAs³ on greenfield sites located within or adjacent to natural habitats before construction. In 2023, there were no sites located within or adjacent to protected areas. Hence, no material biodiversity risk was identified. The Company also took the initiative to conduct a more comprehensive study, similar in scope with the EIA, for our Forest Woods condominium. This led to the discovery of several rare species of plants that were transplanted to safe areas.

In 2023, the Company secured blue carbon credits for the first time from the CIX, and in turn supporting the Delta Blue Carbon project in adopting Nature-based Solutions (NbS). Proceeds from credits purchased are channelled to protecting and restoring 350,000 hectares of mangrove forests in Pakistan’s Indus River Delta area. Well-being and livelihoods of over 42,000 people in the local communities, of which 70% live below the poverty line, is expected to improve.

As part of the Company’s ongoing efforts to inspire sustainable living practices and raise awareness about the environment, City Square Mall held an inaugural Home Balcony Landscape Competition and set the record for “The Largest Home Balcony Landscape Display” in the Singapore Book of Records on 16 June 2023.

The competition engaged students from the Institute of Technical Education (ITE) College East, Ngee Ann Polytechnic and Singapore Polytechnic (SP). Nine inspirational plots of “Summer in Bloom” landscapes were on showcase for City Square Mall community members to view in-person and vote online. Students reused and upcycled plants and accessories for their creations. For instance, SP used discarded pallets and crates for their flower wall while ITE purchased pre-loved items.

The event was supported by Nyee Phoe Flower Garden, NParks, Mosscape, Inside Works and NTUC FairPrice. Read more here.