ENHANCING GREATER PURPOSE TO CDL’S ESTABLISHED TRIPLE BOTTOM LINE
Embracing 15 out of 17 UN Sustainable Development Goals (SDGs) since 2016 has sharpened our sustainability strategy and strengthened our triple bottom line in creating future-readiness for our business operations. For three decades, our deliverables have reflected our firm belief that the success of businesses is beyond short-term profits. Integrating sustainability into our business strategy and operations as well as disclosing credible and consistent information to our stakeholders has fostered trust, built resilience and helped us to mitigate business risks.
CDL Value Creation Model – Enhancing Environmental, Social and Economic Sustainability
CDL’s value creation business model is anchored on our ethos of “Conserving as We Construct” since 1995. The model encapsulates our role as a developer, an asset owner and a corporate citizen, and guides us in creating sustained value for our business and stakeholders. Leveraging six capitals – financial, intellectual, natural, manufactured, human, and social and relationship, our business operations and sustainability advocacy are closely aligned with 15 UN SDGs.
What gets measured gets managed. The Company’s robust sustainability reporting since 2008 has helped the organisation to set targets, track performance, identify gaps and enhance practices. We have created a unique blended framework using GRI Standards as its core since 2008, adding CDP since 2010, Global Real Estate Sustainability Benchmark (GRESB) since 2013, Integrated Reporting Framework since 2015, SDG Reporting since 2016, Task Force on Climate-Related Financial Disclosures (TCFD) framework since 2017, Science Based Targets initiative (SBTi) since 2018, and SASB Standards and Climate Disclosure Standards Board (CDSB) Framework since 2020. In 2024, CDL became the first corporate in Southeast Asia to publish a Taskforce on Nature-related Financial Disclosures (TNFD)aligned report. In this report, we also began reporting according to the latest GRI 101: Biodiversity 2024, transiting from GRI 304: Biodiversity 2016.
Starting from 2022, we have proactively harmonised these frameworks into our unique two-pillar model, capturing the “value” and “impact” our business creates. We support the formation of the ISSB in providing a unified sustainability reporting baseline framework that aims to fulfil the needs of investors and various stakeholders for credible, consistent and comparable data. With the launch of the IFRS S1 and S2 in June 2023, the Company worked with an external consultant in end 2023 on a comprehensive gaps analysis to identify the areas for alignment for reporting against S1 and S2. Moving forward, this will allow us to work towards full alignment and compliance with the IFRS’ standards. In June 2024, the ISSB further announced its workplan for interoperability and harmonisation of the sustainability disclosure landscape. This is aligned with our two-pillar reporting model.
External assurance is key to enhance data credibility and instill confidence in stakeholders. The Company’s external assurance of our sustainability report started in 2009 and has continued to expand in scope to cover SASB Standards, CDSB as well as the TCFD frameworks. CDL continues to keep track of the newly launched ISSA 5000 assurance standard, a new global baseline standard for sustainability assurance, with a view to adopt it in the upcoming years.