Adopting IIRC’s <IR> framework was a natural progression for CDL after voluntarily reporting on our Environmental, Social and Governance (ESG) impact since 2004. As early as 2008, we published Singapore’s first Global Reporting Initiatives (GRI)-checked report. In 2015, we took the lead as the first Singapore property developer to adopt <IR> for our dedicated sustainability report. The approach connects CDL’s ESG performance with economic impact and highlights our value-creation through six capitals – Financial, Organisational, Natural, Manufactured, Social and Relationship, and Human – making stronger business sense of CDL’s sustainability integration of over 20 years.
The <IR> journey has been a rewarding one for CDL as it promotes integrated thinking and inclusive disclosure across business functions to present a more holistic picture on how CDL creates lasting value. Beyond just a communication medium, we have used the <IR> framework as a strategic tool to assess CDL’s ESG impact through a financial lens and to develop forward thinking, value-driven strategies to stay relevant in the ever-changing global landscape.
Through the years, we have sharpened our value creation model by integrating our three-pronged sustainability strategy – as a developer, an asset owner and a corporate citizen – to fulfil our corporate vision of “Building Value for Tomorrow, Today”. In 2017, we further introduced the “CDL Future Value 2030” sustainability blueprint to future-proof our business. In line with the Paris Agreement, United Nations Sustainable Development Goals, as well as global and local green building agendas, the blueprint sets out a clear direction and long term ESG goals and targets to guide CDL towards 2030.
“Integrated Reporting is the future of corporate reporting as stakeholder expectations for disclosure and transparency intensify and as demand for responsible investment increases. It offers a useful process for companies to review their business model and performance, putting a balanced triple bottom line as priority. The integrated thinking and disclosure approach has enabled us to build a more compelling business case around CDL’s long term value creation to attract like-minded investors, customers and partners.”
Esther An, Chief Sustainability Officer, City Developments Limited.
Please download the CDL Integrated Sustainability Report 2017 from www.cdlsustainability.com
City Developments Limited (CDL) is a Singapore-listed international real estate operating company with a global presence spanning 97 locations in 26 countries. As one of Singapore’s largest companies by market capitalisation, our income-stable and geographically-diversified portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls, totalling over 18 million square feet of floor area globally.
Since 1995, CDL has built on our ethos of “Conserving as we Construct” to fulfil our role as a developer of living spaces, lives and communities. Building on our track record of over 50 years in real estate development, investment and management, CDL has been leveraging our stable of prime assets and growing our funds management business, with over S$3.5 billion in funds under management currently. We also launched the first green bond by a Singapore company to tap on socially-responsible investors.
CDL is the first Singapore company to be listed on four of the world’s leading sustainability benchmarks – FTSE4Good Index Series (since 2002), MSCI Global Sustainability Indexes (since 2009), Global 100 Most Sustainable Corporations (since 2010) and Dow Jones Sustainability Indices (since 2011).