Singapore-
The refreshed 2030 SMP1 integrates CLI's commitment to achieve Net Zero carbon emissions by 2050 and reduce scope 1 and 2 carbon emissions by 46%2 by 2030. It includes an increased 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%. It also introduces new social targets focused on social impact, human capital development, and employee wellness, including having at least 40% female representation in senior management3, and increases focus on governance. The refreshed 2030 SMP provides greater clarity on CLI's pathways to achieve its sustainability goals.
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'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)4; and have also expanded our social and governance focus with new targets. 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.'
'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,' added
International Tech Park Chennai, Taramani achieved the certification of Net Zero Waste at Operation Phase by
Theme 1: Build portfolio resilience and resource efficiency
Apart from elevating its target for the use of renewable energy and introducing a new target for waste management, CLI included in the refreshed 2030 SMP its target to reduce its absolute scope 1 and 2 carbon emissions to accelerate its transition to a low carbon business. CLI will also continue to work towards its targets to reduce carbon emissions intensity, energy consumption intensity and water consumption intensity by 72%, 15% and 15% respectively.
CLI has detailed specific pathways to achieve its environmental targets in the refreshed 2030 SMP, including the integration of sustainability in the entire real estate life cycle; driving innovation and collaboration in the built sector; and leveraging sustainable finance, among others.
Theme 2: Enable thriving and future-adaptive communities
CLI is strengthening its social efforts by expanding the 2030 SMP to include CLI's social impact on its communities through
Pathways to achieve its social targets include leveraging CHF to amplify social value creation in communities where CLI operates; developing capability and culture of sustainability throughout the organisation; and cultivating stakeholder engagement through thought leadership and advocacy.
Theme 3: Steward responsible business conduct and governance
CLI has increased its governance focus in the refreshed 2030 SMP to highlight the importance of responsible business conduct and stewardship in its business. This includes committing to upholding strong corporate governance, maintaining transparent reporting, and having sound processes in place to manage sustainability risks.
CLI has implemented a robust ESG governance structure. It has a dedicated
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CLI's 14th Global Sustainability Report
In tandem with the announcement of its refreshed SMP, CLI issued its 14th Global Sustainability Report. Externally assured since 2010, key highlights of the report include:
Advancing towards Net Zero
58% of CLI's global portfolio5 received green building certifications, on track to achieving 100% certification by 2030
Reduced carbon emissions intensity and energy consumption intensity by 15% each
Expanded its use of renewable energy to about 5% (58,000 MWh) of its total electricity consumption. This helped to mitigate about 33,500 tonnes of carbon emissions, equivalent to the annual emissions of 7,400 petrol-powered cars. This was attributed to 26 properties in
Over
Commitment to safety and inclusivity
Maintained a diverse and dynamic global workforce with about 40% female representation in senior management and global staff strength comprising over 85 nationalities
CLI staff clocked in over 370,000 training hours, with more than 83% of its staff attending at least one ESG training
Conducted pilot ESG due diligence screening of close to 500 critical suppliers to enable CLI to effectively monitor and engage them on their ESG performance
CLI's Global Sustainability Report 2022
Innovation is key to CLI's decarbonisation efforts and through CapitaLand Sustainability X Challenge (CSXC), sustainable solutions for the built environment are crowdsourced worldwide with the opportunity to be piloted at
As CLI continues its transformation into a leading global real estate investment manager, it signed the UN Principles for Responsible Investment6 and the
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Read our take on the environmental sustainability challenges and opportunities in the real estate sector, and how investors should approach this rapidly evolving landscape at: https://www.capitaland.com/en/about-capitaland/newsroom/Perspectives/2022/The-Journey-to-Net-Zero-Towards-a-Greener-Investment-Mandate.html
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