CapitaLand Launches 2030 Sustainability Plan, Will Triple Multi-billion Sustainable Finance Portfolio
Singapore-based real estate group CapitaLand announced today the launch of its new Sustainability Master Plan, including several targets and initiatives through 2030. Some of the targets included in the plan are for a 78% reduction in carbon emissions intensity, and a tripling of the firm’s sustainable finance portfolio to S$6 billion (US$4.4 billion) by 2030.
Mr Lee Chee Koon, CapitaLand’s Group Chief Executive Officer said:
“At CapitaLand, sustainability is at the core of what we do. It is embedded into every stage of our real estate life cycle, from investment to development and operations. CapitaLand’s Sustainability Master Plan will be our strategic blueprint, focusing on areas where we can create the greatest positive impact and pursue profitable business growth in a responsible manner. The Master Plan will guide us to galvanise efforts across our global network of properties, enabling CapitaLand to make a bigger contribution to the environment and the communities where we operate, and position CapitaLand as a progressive employer of choice.”
According to CapitaLand, the new sustainability plan focuses on three key themes:
- Build portfolio resilience and resource efficiency
- Enable thriving and future-adaptive communities
- Accelerate sustainability innovation and collaboration
In addition to its carbon emissions target, CapitaLand has also outlined other environment-related goals in its new plan, including a 45% reduction of water consumption intensity at operating properties, achieving a 25% recycling rate at operating properties, and diverting 75% of construction waste away from landfills.
Under the “Enable” pillar, CapitaLand’s commitments include fostering a diverse and dynamic workforce and a talent pool, continuing to adopt a zero-tolerance policy on practices that compromise on the safety and well-being of its customers and staff at all CapitaLand properties, and implementing a green lease programme encouraging tenants to implement environment-friendly features in their premises and embrace more sustainable practices.
The ”Accelerate” theme includes the goal to triple the company’s sustainable finance portfolio to S$6 billion by 2030, with instruments such as sustainability-linked loans, green loans and green bonds. The company has also launched the ‘CapitaLand Sustainability X Challenge,’ aiming to source innovative sustainability solutions, with 2 winning participants receiving up to S$50,000 in project funding to further develop their innovations.
Ms Lynette Leong, Chief Sustainability Officer, CapitaLand Group said:
“We acknowledge that the solution to sustainability challenges requires collective efforts and the pushing of boundaries. To advance sustainability innovation and collaboration for CapitaLand and within the built environment, we will introduce our inaugural ‘CapitaLand Sustainability X Challenge’. It is the first sustainability challenge by a Singapore real estate company on a global scale. Participants from across the world will not only stand to win project funding but, more importantly, pilot their solutions at CapitaLand’s global network of properties and be mentored by our business leaders. The ‘CapitaLand Sustainability X Challenge’ will enable CapitaLand to source and deploy impactful and scalable innovative solutions.
“To accelerate CapitaLand’s sustainability efforts to meet our 2030 goals, we will also deepen our partnerships with financial institutions to triple our quantum of sustainable finance and further dovetail our sustainability performance to reap greater financial benefits. We will also implement our green lease programme globally, work with our customers to lower their resource consumption levels and drive better energy efficiencies together. Through the different approaches, we aim to amplify sustainability outcomes and measure the impacts by our new ‘Return on Sustainability’ metric.”