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CDL ranked the world's most sustainable real estate company

By Nicholas Lam

/ EdgeProp Singapore |

January 17, 2024 9:42 PM SGT

Artist's impression of the 512-unit Lumina Grand executive condo by City Developments (Picture: CDL)

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Singapore-listed property group City Developments Limited (CDL) has been ranked 22nd on the 2024 Global 100 Most Sustainable Corporations in the World list. CDL is also the first Singapore company to be included in the Global 100 list for 15 consecutive years.

CDL also remained Singapore's most sustainable company globally, a position it has held for the sixth consecutive year. CDL's rank jumped from 28th to 22nd after improving in areas such as energy, greenhouse gas and water productivity, ESG-linked remuneration KPIs for management, talent attraction and retention, and a sustainable supply chain.

"We are honoured to be recognised again as the world's most sustainable real estate company on the Global 100 Most Sustainable Corporations in the World listing," said Sherman Kwek, CDL's group CEO. "This accolade reaffirms our commitment to a climate-positive future and achieving our initial net-zero goals by 2030. By embracing innovation, collaboration and sustainable practices, we can reduce our carbon footprint and inspire a collective shift towards a net zero future."

Read also: CDL to divest freehold strata units at Cititech Industrial Building and Citilink Warehouse Complex for $149 mil

The Global 100 ranking is a well-regarded sustainability equity index and the gold standard in corporate sustainability. The ranking is analysed by Toronto-based media and investment research firm Corporate Knights and based on over 6,700 companies with over US$1 billion in revenues. Each company was evaluated using publicly available information based on a set of 25 ESG indicators relative to their industry peers.

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