STRATEGIC ESG INTEGRATION

On 6 April 2017, we launched our inaugural green bond – the first by a Singapore company, which raised S$100 million at 1.98% fixed rate due in 2 years.

We achieved more than $20 million in savings as a result of the energy-efficient retrofitting and initiatives implemented for eight office buildings from 2012 to 2017, directly benefiting CDL’s financial bottom line.

As of end 2017, 100% of our tenants have pledged their commitment to the CDL Green Lease Partnership Programme by signing a Green Lease Memorandum of Understanding.

Tenant satisfaction rate remained high at 97% for office, 98% for retail and 89% for industrial buildings in 2017.

Our investment in sustainable and productive building methods such as the advanced Prefabricated Prefinished Volumetric Construction (PPVC) technology adopted for The Brownstone Executive Condominium, has raised productivity by over 40% and saved 55,000 man days. Waste generation was kept to significantly below CDL’s stringent internal waste targets. The worksite also experienced zero fatality and accident.

CDL has more than 20 years of track record in green building innovations, launching Asia Pacific’s first CarbonNeutral® development, 11 Tampines Concourse in 2009; Singapore’s first eco-mall, City Square Mall in 2009; and was the first developer in Asia to adopt PPVC in 2014.

In 2016, we invested $2.25 million in a partnership with the National University of Singapore(NUS) for two new research laboratories to catalyse innovation in smart and green building technologies which can be test-bedded in our future developments. The NUS-CDL Tropical Technologies Laboratory (T² Lab) was completed in end 2017 and R&D works have commenced. The NUS-CDL Smart Green Home Lab, which will be located in the school’s new building, is expected to receive Temporary Occupation Permit by 2020.

Since 2001, we have been implementing the CDL 5-Star Environmental, Health and Safety (EHS) Assessment System on 100% of our builders to assess their EHS performance and safeguard against associated risks.

To future-proof our business, we are embarking on a scenario planning exercise in 2017, to identify and mitigate emerging trends including carbon tax and circular economy, which can impact CDL’s supply chain.