4 Sustainable bonds: Asia Capital Markets Report 2025 | OECD, 26 June 2025 5 Sustainable Finance Market Analysis, Mordor Intelligence, Jan 2026 Investment: Continual mobilisation of sustainable finance to accelerate action Sustainable finance is a key enabler for embedding ESG into business models. In 2024, companies in Asia issued approximately US$145 billion in sustainable bonds, representing about 28% of the global corporate sustainable-bond issuance.4 The sustainable finance market is expected to grow from US$13.4 trillion in 2025 to US$15.06 trillion in 2026.5 This trend in capital flows reflects a shift in investor expectations towards sustainability. By linking financing and credit terms to sustainability outcomes, sustainable finance aligns the incentive structure for businesses to manage climate, regulatory and reputational risks, positioning it as a strategic long-term growth lever. Since 2017, CDL has secured over $11 billion in sustainable finance, leveraging its strong sustainability performance and credibility, validated by global ESG rankings like FTSE4Good, MSCI ESG Ratings, and the CDP A List. These recognitions boost investor confidence, providing CDL with access to sustainable capital at competitive terms and underscoring the financial value of ESG stewardship. In today’s climate of heightened scrutiny and evolving global ESG standards, reliable and verifiable data is crucial for business resilience. CDL is integrating a new ESG data platform to enhance the transparency, consistency and accuracy of its sustainability reporting. This commitment to data integrity and robust disclosure strengthens investor confidence, streamlines compliance and builds long-term resilience in a data-driven sustainability landscape. Impact: Consistent Sustainability Practices for Positive Impact With the recent ESG pullback, corporates will be tested on their commitment to sustainability practices. CDL remains dedicated to sustainable development and ESG best practices, earning recognition in leading global ESG ratings and rankings for the past three decades. For a complete listing of CDL’s ESG leadership, please refer to Chapter 1 of CDL ISR 2026. Some of the Group’s key achievements in the year under review include: • Global 100 Most Sustainable Corporations in the World by Corporate Knights: Ranked 69th in 2026 – the only Singapore company on the global ranking. CDL is the only Singapore company listed for 17 consecutive years since 2010 • CDP: The only Singapore company to achieve double ‘A’s for Climate Change and Water Security in the 2025 CDP A List for 7 consecutive years • MSCI ESG Ratings: ‘AAA’ rating since 2010 • Sustainalytics: Regional and Industry Top-rated in 2025 • TIME World’s Most Sustainable Companies: 2024-2025 • Financial Times – Statista Asia Pacific Climate Leader 2025: Recognised for the third consecutive year • The Asset Triple A Sustainable Finance Awards 2025: Conferred Best Sustainability-Linked Loan – Real Estate • Equileap Gender Equality Report & Ranking 2026 – Developed Markets Edition: Ranked 93rd What this means for our corporate strategy GET Strategy • Build development pipeline and recurring income streams • Enhance asset portfolio through asset enhancement initiatives, asset repositioning and redevelopment • Drive operational efficiency • Transform business via new platforms - Strategic investments - Fund management • Innovation and venture capital What this means for our sustainability strategy • Apply the CDL Sustainable Investment Principles to steward responsible capital allocation and investment decisions • Integrate nature and sustainable finance to capture growth opportunities • Align with UN Principles for Responsible Investment (PRI) • Accelerate development pipelines that prioritise ecosystem restoration, nature protection and biodiversity conservation • Increase urban greening initiatives and improve the sustainability performance of both new developments and existing assets • Accelerate decarbonisation across new and retrofitted properties to meet high green building standards and net-zero commitments, including optimised design, low-carbon materials, and a transition to renewable energy sources • Embed robust Environmental, Social, and Governance (ESG) practices to strengthen portfolio performance and long-term value creation • Advance nature-related risk and opportunity assessments in line with TNFD guidance to support nature-positive outcomes • Develop and implement biodiversity and resilience plans for managed properties • Accelerate impact investing in PropTech funds, start-ups and scale-ups to uncover and testbed building innovations for our properties • Enhance alignment for key subsidiaries to achieve CDL Group’s sustainability and nature strategy, goals and action in a phased approach • Elevate stakeholder collaboration and partnerships to support low-carbon and nature-positive projects G GROWTH E T ENHANCEMENT TRANSFORMATION ANNUAL REPORT 2025 | 75
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