CapitaLand unveils sustainability master plan

The global sustainability plan aims to build, enable, and accelerate.

CapitaLand has launched its first Sustainability Master Plan that caters to the company’s sustainability targets, strategies and plans for the next decade till 2030.

The plan focuses on three key themes to drive the company’s sustainability efforts in the environment, social and governance (ESG) pillars.

The group said that it is the first real estate company in Singapore to set a public sustainable finance target.

By 2030, CapitaLand intends to secure $6b (US$4.39b) through sustainable finance such as sustainability-linked loans, green loans and green bonds, which is triple the $2b (US$1.46b) CapitaLand has raised to date through sustainable finance.

For its first theme, “Build portfolio resilience and resource efficiency”, CapitaLand aims to reduce carbon emissions intensity by 78% by 2030. The new target is more than double the 29.4% reduction it achieved in 2019.

CapitaLand also seeks to reduce its energy consumption intensity at its operating properties by 35% and increase the proportion of total electricity consumption from renewable sources by 35% by 2030.

In 2019, the company said that it decreased its energy consumption intensity by 19.2%, and about 2%2 of the group’s total electricity consumption was from renewable sources.\

They also aim to reduce its water consumption intensity for its operating properties byr 45%, achieve a25% recycling rate at operating properties, and a diversion of 75% of its construction waste away from the landfill.

The second theme is to enable thriving and future-adaptive communities, which aims to strengthen human capital, health and safety, and supply chain management, and help CapitaLand foster a diverse and dynamic workforce.

CapitaLand will also implement its green lease programme to all tenants across asset classes and geographies by 2030 to encourage tenants to implement environment-friendly features in their premises and embrace more sustainable practices.

Finally, CapitaLands’ third theme is to accelerate sustainability innovation and collaboration in order to achieve sustainable operational excellence in the real estate industry. Under this theme, the group said that it  will leverage technology and innovation to raise productivity, elevate service quality and improve the well-being and safety of its customers.

Sustainability X Challenge
Along with the launch of the Sustainability Master Plan,the group also launched the inaugural “CapitaLand Sustainability X Challenge.” The challenge aims to source innovations globally that can help the group meet its business needs and sustainability targets.
Participants can submit their solutions beginning November. Two winners will be selected, and each winner will receive up to $50,000 (over US$36,000) in project funding to further develop their innovations and pilot their solutions with CapitaLand.

Suitable companies can also leverage CapitaLand’s new Smart Urban Co-Innovation Lab (SmartLab) in Singapore in partnership with Infocomm Media Development Authority and Enterprise Singapore.