CapitaLand Investment’s refreshed 2030 sustainability master plan integrates 2050 net zero carbon emissions commitment

By Felicia Tan

/ The Edge Singapore |

June 1, 2023 10:40 AM SGT

Clarke Quay. Photo: CLI

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SINGAPORE (EDGEPROP) - CapitaLand Investment (CLI) 9CI -0.3% has refreshed its 2030 sustainability master plan (SMP) to strengthen its environmental, social and governance (ESG) pillars.

The new plan integrates the group’s commitment to achieve net zero carbon emissions by 2050 and to reduce its scope 1 and 2 carbon emissions by 46% by 2030. This includes a higher target for the use of renewable energy from 35% to 45% by 2030 and a new target to reduce waste intensity in day-to-day operations by 20%.

In addition, the new plan introduces new social targets that are focused on social impact, human capital development and employee wellness. This includes having at least 40% female representation in senior management as well as an increased focus on governance.

“Amidst the multitude of global crises, maintaining focus on our pursuit of sustainability in our strategy and business is the way forward. We have doubled down on our sustainability efforts in the refreshed 2030 SMP, aligning it with our net zero commitment, with targets validated by Science Based Targets initiative (SBTi); and have also expanded our social and governance focus with new targets,” says Vinamra Srivastava, CLI’s chief sustainability officer.

“Achieving our sustainability goals requires a global ecosystem approach along multiple stakeholder collaborations. We are also deepening our efforts to reduce scope 3 emissions by forming partnerships with our supply chain vendors, engaging tenants to increase adoption of green leases at our properties globally and working with them to improve their sustainability performance,” he adds.

“Since we unveiled the SMP in 2020, we have been focusing on execution to achieve our ambitious ESG targets. We continue to push boundaries in sourcing for innovative solutions and piloting them at our properties across the world. We have also intensified the use of renewable energy generated onsite and offsite, and expanded our network of capital partners for sustainable financing, among others. We remain steadfast on our sustainability journey towards our ESG goals,” he continues.

As at 10.27am, shares in CLI are trading 1 cent lower or 0.3% down at $3.30.

This article first appeared on The Edge Singapore.

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