CapitaLand recognised for global sustainability leadership on Dow Jones Sustainability Indices
Added: (Mon Nov 16 2020)
Pressbox (Press Release) -
CapitaLand has been listed on the Dow Jones Sustainability World Index (DJSI World) for the ninth consecutive year, reinforcing its reputation as a global sustainability leader in real estate. Dow Jones Sustainability Indices (DJSI) track the performance of the world's leading companies in the areas of economic, environmental and social factors.
CapitaLand has also maintained its listing on the Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific) for the 12th consecutive year. This makes CapitaLand the first and longest standing company in Singapore to be listed on the DJSI Asia Pacific.
CapitaLand’s inclusion in the DJSI is tied to the interest rates across four of CapitaLand’s sustainability-linked loans totalling S$600 million. With CapitaLand maintaining its listing on the DJSI, along with the achievement of other environmental, social and governance (ESG) indicators, CapitaLand will receive interest rate savings from the reduced interest rates on these sustainability-linked loans.
CapitaLand has also retained its listing in the MSCI World ESG Leaders and MSCI World Socially Responsible Investment (SRI) Index in 2020. This is CapitaLand’s seventh inclusion in the rankings. The MSCI Global Sustainability Indices are designed for investors seeking exposure to companies with strong sustainability profiles. It comprises companies focusing on products or services that contribute to a more environmentally sustainable economy by making a more efficient use of limited global natural resources.
First real estate company in Asia (excluding Japan) to have its carbon reduction targets validated by Science Based Targets initiative
CapitaLand is the first real estate company in Asia (excluding Japan), and in Singapore to have its carbon reduction targets set using a science-based approach validated by Science Based Targets Initiative (SBTi), for a ‘well-below 2 degrees Celsius’ scenario. The scenario is in line with the Paris Climate Agreement to keep global temperature rise ‘well-below 2 degrees Celsius’ in this century.
Mr Andrew Lim, Group Chief Financial Officer, CapitaLand Group said: “At CapitaLand, sustainability is at the core of what we do. We measure our sustainability efforts against global benchmarks such as Dow Jones Sustainability Indices and embed sustainability into our cost of funding. Being consistently recognised as one of the world’s most sustainable real estate companies further encourages us to step up our efforts in sustainability. The interest rate savings from our sustainability-linked loans can be redeployed to support our operations and ESG initiatives, spurring better sustainability outcomes. Having our carbon reduction targets validated by the common international standard, SBTi, paves the way for more financial products and services that we could work with our like-minded capital partners to roll out. CapitaLand will continue to build on our sustainability achievements to create a greater positive impact on the environment and society.”
Ms Lynette Leong, Chief Sustainability Officer, CapitaLand Group said: “As a global sustainable real estate leader, CapitaLand continues to break new grounds by being the first in Asia excluding Japan to have our carbon reduction targets validated by SBTi to keep global temperature rise ‘well-below 2 degrees Celsius’. To achieve these carbon reduction targets and other resource efficiency aims outlined in CapitaLand’s 2030 Sustainability Master Plan, leveraging innovation and technology is key. With our inaugural CapitaLand Sustainability X Challenge, companies from across the world are invited to work with CapitaLand to bring their sustainability innovations to life. As we step up on our on-going sustainability practices, the CapitaLand Sustainability X Challenge will amplify our sustainability efforts, enabling CapitaLand to contribute more tangibly in the global fight against climate change and future-proof our organisation.”
CapitaLand’s SBTi validated targets are to reduce scope 1 and 2 greenhouse gas (GHG) emissions by 28% by 2030 since 2019. It has also committed to reducing scope 3 GHG emissions from capital goods by 22% per square metre by 2030 since 2019.
These new carbon reduction targets complement CapitaLand’s current aim of achieving a 78% reduction in carbon emissions intensity by 2030 outlined in CapitaLand’s 2030 Sustainability Master Plan.
Global open call for sustainability innovation through CapitaLand Sustainability X Challenge
To accelerate its sustainability efforts to achieve its carbon reduction targets and other targets outlined in the Master Plan, CapitaLand has launched a global open call for sustainability innovation through its inaugural CapitaLand Sustainability X Challenge (CSXC).
This is the first sustainability challenge by a Singapore real estate company on a global scale. The CSXC also aims to encourage sustainability innovation and collaboration within the built environment.
Companies across the world with suitable sustainability innovations can participate in the CSXC from now till February 2021. Participants can join the CSXC by submitting their proposed innovation to address any of the seven challenge statements developed by CapitaLand to meet its global business needs.
Two winning solutions will each receive S$50,000 to fund their projects, mentoring by a CapitaLand business leader and the exclusive opportunity to pilot, test and implement innovations at select CapitaLand properties in over 220 cities and 30 countries. The projects will be assessed based on the impact, potential outcomes and depth of innovation. They should also be scalable and effectively deployed across the geographies that CapitaLand operates in and its different asset types. Other shortlisted participants will stand a chance to trial their innovations at CapitaLand’s global network of properties.
To participate and for more information on the CSXC and the challenge statements, please visit: www.capitalandsustainabilityxchallenge.com.
CapitaLand’s 2030 Sustainability Master Plan
Launched in October 2020, CapitaLand’s Sustainability Master Plan builds upon CapitaLand’s sustainability achievements over the past 20 years, while accelerating and amplifying its sustainability efforts for the next 10 years till 2030.
In elevating its commitment to global sustainability, CapitaLand’s Sustainability Master Plan focuses on the following three key themes to drive its sustainability efforts in the ESG pillars, enabling the Group to create a larger positive impact on the environment and society:
Build portfolio resilience and resource efficiency
Enable thriving and future-adaptive communities
Accelerate sustainability innovation and collaboration
For more information on CapitaLand’s Sustainability Master Plan, please visit: https://www.capitaland.com/international/en/about-capitaland/sustainability.html