Esther An

Chief Sustainability Officer
City Developments Limited

City Developments Ltd

City Developments Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions.

Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, shopping malls and integrated developments.

With a proven track record of over 55 years in real estate development, investment and management, the Group has developed over 47,000 homes and owns over 23 million square feet of gross floor area in residential, commercial and hospitality assets globally. Its diversified global land bank offers 3.5 million square feet of land area.

Along with its wholly-owned hotel subsidiary, Millennium & Copthorne Hotels Limited (M&C), the Group has 152 hotels and 44,000 rooms worldwide, many in key gateway cities.

Leveraging its deep expertise in developing and managing a diversified asset base, the Group is focused on enhancing the performance of its portfolio and strengthening its recurring income streams to deliver long-term sustainable value to shareholders.

CDL’s value creation business model is founded on its ethos of “Conserving as We Construct” since 1995. For over two decades, it has built a strong track record as Singapore’s trusted property pioneer and is recognised as one of the most sustainable companies in the world.

CDL believes that change is the only way forward for the sustained growth of its business. The company has remained steadfast in its strategic integration of Environmental, Social and Governance (ESG) goals and policies into its business. CDL firmly believes that the way to future-proof its business and create sustained value for its investors and stakeholders is to mitigate risks, enhance resource efficiency, and drive productivity and innovation.

CDL’s continued progress is widely recognised by 12 prominent global ratings, rankings and indexes. This includes the 2021 Global 100 Most Sustainable Corporations in the World by Corporate Knights, of which CDL emerged the world’s top real estate company for the second consecutive year and top Singapore company for the third consecutive year. CDL also maintained double ‘A’s in the 2020 CDP Global A List for corporate climate action and water security, and is the only company in Southeast Asia and Hong Kong to score ‘A’ for corporate climate action for three consecutive years. Other major rankings include FTSE4Good Index Series (since 2002); MSCI ESG Leaders Indexes (since 2009 and ‘AAA’ rating since 2010); and Dow Jones Sustainability Indices (since 2011).

For its efforts in engaging its supplier network effectively to address climate change, CDL was the only real estate company in Southeast Asia and only Singapore company awarded the 2020 CDP Supplier Engagement Leader. This prestigious recognition places CDL amongst the top 7% of companies assessed by CDP for supplier engagement on climate change.

CDL was also accorded Global Sector Leader (Diversified-Office/Retail-Listed) and Overall Regional Sector Leader (Diversified) in the Global Real Estate Sustainability Benchmark (GRESB) and included for the fourth consecutive year in the Bloomberg Gender-Equality Index. Additionally, CDL was named one of the world’s 50 Sustainability & Climate Leaders in a documentary hosted by Bloomberg.

To augment its sustainability-focussed strategy, CDL became the first Singapore company to embrace the United Nations Sustainable Development Goals (SDGs) since its launch in September 2015. To-date, CDL has embraced 14 out of 17 SDGs in its Future Value 2030 sustainability blueprint goals and targets. As part of CDL’s commitment to transparent disclosure, key strategic goals and ESG targets set under its blueprint are tracked and reported quarterly and annually since 2017.

Recognising the high environmental impact of the built sector, carbon management has been CDL’s priority. To support efforts towards a low-carbon economy, in 2018, CDL became the first real estate company in Singapore to have its carbon emissions intensity reduction targets validated by the Science Based Targets initiative (SBTi), a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature.

Along with setting more ambitious science-based emission reductions targets, CDL takes pride to have been the first real estate developer in Singapore and the first real estate conglomerate in Southeast Asia to sign the WorldGBC’s Net Zero Carbon Buildings Commitment in February 2021, pledging to achieve net zero operational carbon emissions for buildings under its direct control and management by 2030 and advocating for all buildings to be net zero operational carbon by 2050.

Testament to its pioneering and unwavering commitment to green building efforts since the early 2000s, CDL has amassed a portfolio of 110 BCA Green Mark certifications for its developments and office interiors, making CDL the most awarded BCA Green Mark Platinum developer in the private sector.

In the face of unprecedented climate, health and economic threats, CDL’s strong ESG performance has positioned it to achieve sustained growth and attract fast-growing sustainable investments.



Podcast - Bringing Embodied Carbon Upfront in Asia Pacific

Thu, 26th Sep 2019

To celebrate World Green Building Week 2019 and the launch of WorldGBC's report Bringing Embodied Carbon Upfront, AkzoNobel and WorldGBC have collaborated to produce this two-part video podcast offering a wholesome Asia Pacific and full value chain perspective on addressing embodied carbon.

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Singapore Green Building Council & CDL join forces to create greener, healthier offices

Thu, 16th Mar 2017

Singapore Green Building Council and CDL joined forces earlier this week to host a first-of-its-kind session to promote greener, healthier and more productive offices.

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