SUSTAINABILITY GOVERNANCE

Integrating sustainability at the highest governance level in CDL enables strategic oversight of ESG issues for long-term value creation. For close to a decade, the leadership spearheaded by CDL’s Board Sustainability Committee has been critical in delivering CDL’s sustainability purpose, integration, and performance, which have added value to the company.

Since 2014, CDL has put in place an integrated governance structure with everyone being committed to the role that they play in coordinating ESG efforts, both horizontally between the ESG pillars and functions, and vertically across hierarchical levels up to the Group CEO and the Board. The CSO reports directly to the Board Sustainability Committee (BSC), which comprises three independent directors, and CDL’s Executive Director and Group CEO. The BSC has direct advisory supervision of CDL’s sustainability strategy, material ESG issues, work plans, performance targets setting, tracking and reporting. At least two meetings are held annually for the management to update BSC on CDL’s sustainability plans and performance reviews. In addition, the CSO submits a quarterly report and communicates with the BSC on CDL’s ESG performance and initiatives, as well as global and local ESG trends. CDL’s sustainability governance, management and disclosures are in line with global best practices and SGX RegCo’s mandate on climate disclosures and board supervision.

To achieve effective integration of sustainability throughout CDL, the CSO chairs the Sustainability Committee, which comprises members across all departments and operational units. In 2021, CDL stepped up on strengthening the links between our ESG performance with the Executive Committee (ExCo) members’ remuneration. With Heads of Departments (HODs) reporting to the respective ExCo members, the ESG KPIs will cascade down to every level in our organisation. HODs are held accountable for their ESG performances, which are captured in their annual performance appraisal that is linked to their remuneration and promotion.

Sustainability Governance Structure

 

Board Sustainability Committee (BSC)

  • Sherman Kwek

    Chairperson, BSC
    Executive Director and Group Chief Executive Officer

    Appointed as an Executive Director of CDL on 15 May 2019, Mr Kwek has been the Group Chief Executive Officer since 1 January 2018 and concurrently holds the position of Executive Chairman of CDL China Limited. As at 4 January 2021, Mr Kwek has been appointed as Chairman of the Board Sustainability Committee.

    Mr Kwek has been a Council Member of the Singapore Chinese Chamber of Commerce and Industry (SCCCI) since 2013. He was appointed by the SCCCI as the Chairman of the Youth Business Affairs Committee, which is tasked with promoting the Chinese entrepreneurial spirit, managing succession planning and nurturing future business leaders. Mr Kwek is also a member of the Council for Board Diversity (formerly known as the Diversity Action Committee initiated by the Singapore Exchange Limited) which advocates greater gender diversity on the boards of listed companies. In April 2019, he was appointed as a board member of the Building and Construction Authority (BCA), a statutory board that plays a key role in shaping the built environment in Singapore.

    He graduated from Boston University with a Bachelor of Science in Business Administration, majoring in Finance and Marketing with a minor in Psychology.


  • Daniel Marie Ghislain Desbaillets

    Independent and Non-Executive Director

    Appointed as a Director of CDL on 4 January 2021, Mr Desbaillets has an extensive portfolio in the hospitality industry with 42 years of experience. Mr Desbaillets also sits on the Board of Sustainability Committee of CDL.

    Prior to the privatisation of Millennium and Copthorne Hotels Limited (M&C), Mr Desbaillets was the appointed to the M&C board in 2016 as an Independent Non-Executive Director and had served in the Audit & Risk, Remuneration and Risk Committees.

    In 2010, he was the Independent Non-Executive Director of M&C REIT Management Limited, the manager for CDL Hospitality Real Estate Investment Trust (“H-REIT”) and also of M&C Business Trust Management Limited, the trustee-manager for CDL Hospitality Business Trust (“HBT”) and had served in the Nominating and Remuneration Committees. Both H-REIT and HBT are comprised as a stapled group in CDL Hospitality Trusts, which is listed on the Singapore Exchange Securities Trading Limited.


  • Tang Ai Ai Mrs Wong Ai Ai

    Independent and Non-Executive Director


  • Chong Yoon Chou

    Independent and Non-Executive Director


More information on CDL’s Board of Directors is available on CDL’s corporate website.