SINGAPORE (EDGEPROP) - City Developments (CDL) has won the inaugural 2021 Terra Carta Seal on Nov 3 by the Prince of Wales through his Sustainable Markets Initiative.

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CDL is the only Singapore company out of 45 global companies to be awarded the seal, which recognises global companies driving innovation and demonstrating commitment and efforts towards creating genuinely sustainable markets.

“The Terra Carta seal recognises those organisations which have made a serious commitment to a future that is much more sustainable, and puts nature, people and the planet at the heart of the economy. We all need to make changes if we are to preserve the planet for our children and grandchildren and these businesses have pledged to make it easier for us all to do so,” says the Prince of Wales in a press release.

Sherman Kwek, CDL Group CEO, says the company is deeply to receive the seal from the prince. “We share the same commitment to connect People and the Planet through recognising and promoting the intrinsic value of Nature. In this decade of urgent action, we will continue to push forward with our ESG integration efforts to enhance the value and resilience of our business,” he says.

In February, CDL was the first real estate developer in Singapore and the first real estate conglomerate in Southeast Asia to sign the World Green Building Council’s (WorldGBC) Net Zero Carbon Buildings Commitment, where it pledged to achieve net zero operational carbon by 2030.

Last month, the company was also recognised as Global Sector Leader and Overall Regional Sector Leader in the Global Real Estate Sustainability Benchmark (GRESB) 2021 Diversified — Office/Retail  2 category. CDL also maintained its GRESB 5 Star rating, which recognises entities placed in the top 20% of the benchmark.