News provided by World News Media
LONDON, July 27, 2020 /PRNewswire/ -- World Finance has named City Developments Limited the Most Sustainable Company in the Real Estate Industry, as part of the magazine's Sustainability Awards 2020. The award recognises City Developments Limited's longstanding commitment to strategic Environmental, Social and Governance (ESG) integration for over 25 years.
The building and construction sectors together account for 39 percent of energy-related carbon dioxide emissions every year. City Developments Limited recognises that the construction industry plays a crucial role in support of the Paris Agreement on climate change and the UN Sustainable Development Goals. With finance becoming a key enabler for climate action and innovation, City Developments Limited has been driving sustainable practices as not just the right thing to do, but also as good business.
In an interview published in World Finance's Summer 2020 issue, City Developments Limited's Chief Sustainability Officer, Esther An, shared how the company has leveraged its four strategic pillars – integration, innovation, investment and impact – to pioneer an ESG strategy that benefits its stakeholders, business and the planet.
"As the world faces escalating climate, health and social challenges, the adoption of sustainable business practices has never been more important," said An. "Our integrated approach has helped us make financial sense of our commitment to sustainability, allowing us to effectively articulate our climate mitigation and adaptation strategies that creates future value for our business, investors and communities at large."
The World Finance judging panel also considered City Developments Limited's pioneering sustainability practices and advocacy. This included being the first real-estate company in Singapore to set a carbon emissions intensity reduction goal, verified by the Science Based Targets initiative and the first Singaporean company to issue a green bond. The panel also recognised City Developments Limited's efforts to further social investment in accelerating climate action.
City Developments Limited's track record in effective ESG integration and sustained performance has been recognised by 12 leading global sustainability rankings and ratings, including Corporate Knights' 2020 Global 100 Most Sustainable Corporations in the World, in which City Developments Limited was ranked the world's top real estate company. City Developments Limited was the only company in Southeast Asia and Hong Kong to score double 'A's in the 2019 CDP A List for corporate climate action and water security.
To learn more about City Developments Limited's sustainability efforts, visit www.cdlsustainability.com and check out the latest edition of World Finance, available in print, on tablet and online now.
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