Top 50 most sustainable companies in the world (P.5) City Developments Limited: Sustainability efforts for Singapore

01-04-2022

(WorldKings.org) In 2019, according to Corporate Knights, CDL had the second highest score in terms of sustainability in Asia Pacific. In 2020, the company was ranked third.

City Developments Limited (CDL), sometimes also known as CityDev, is a Singaporean multinational real estate operating organisation. Founded in 1963, CDL first developed projects in Johor Bahru, Malaysia and Singapore. Due to geo-political changes, CDL was making a loss before being controlled by Hong Leong Bank via shares acquisition in 1969. Since then, CDL has developed many types of properties from shopping malls to integrated developments. CDL is currently headquartered in Republic Plaza, Singapore. Kwek Leng Beng is its current chairman; and Sherman Kwek, Kwek Leng Ben's son, is its current chief executive officer.

CDL formalised its sustainability efforts in 1995 with the adoption of its ethos Conversing as we Construct. In 2003, CDL established its corporate environment, health and safety policy.

In 1998, CDL became the first developer to install energy saving lifts, which allowed up to 50% savings of energy usage, in a residential property project, the Florida Executive Condominium. It also installed twin-chute pneumatic refuse collection system in selected condominiums, where refuse and recyclables, disposed separately at residents' doorsteps, being transported to a central collection area.

In 2009, CDL developed the 11 Tampines Concourse, Asia's first CarbonNeutral development, and City Square Mall, Singapore's first "eco-mall" with a number of eco-friendly facilities. In 2012, CDL sought to retrofit Republic Plaza, and upgraded its BCA Green Mark category from Gold to Platinum in the process. Its retrofits included an upgraded chiller plant, energy efficient lights, and motion sensors to reduce energy wastage. In 2017, CDL issued a green bond to repay a loan for the retrofitting efforts, the first such bond in Singapore.

In 2019, according to Corporate Knights, CDL had the second highest score in terms of sustainability in Asia Pacific. In 2020, the company was ranked third. The reason for this was an increase in energy usage.

According to Wikipedia


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