On behalf of the Board, I am
pleased to present CDL’s Corporate Social Responsibility
(CSR) Report for 2007. While it has been a robust year of record
earnings for CDL, we have continued to sustain our CSR commitment
to our stakeholders. CSR remains an integral part of CDL’s
corporate mission and we are motivated to challenge ourselves
to make more environmental advancements in the property arena
and to invest in the development and welfare of the community.
Since 2002, CDL has established
a formal risk management framework to enable significant business
risks within the Company’s property investment, development
and management arm to be identified, assessed, evaluated, monitored
and managed. Further enhancements to the framework were implemented
in 2007 with the assistance of independent consultants to manage
strategic business risks which are reflective of the changes in
markets, products and emerging best practices. Risk management
continues to play an important part in the Company’s business
activities and is an essential component of its planning process.
For more information detailing
the Company’s risk management process for the year under
review, please see the Risk Management
ENGAGING OUR INVESTORS
Affirming the importance of
corporate transparency and open communication with the investing
community, CDL has ensured that its quarterly financial results
are announced timely. The top management provided a review of
the Group’s performance and its future plans to fund managers,
analysts and the media during the half-yearly and full-year financial
results briefing sessions. Information presented at these briefings
was made available on SGXNET and the Group’s website for
easy access by all.
In 2007, the top management
continued the practice of presenting to our shareholders our vision
and strategy at the Annual General Meeting as we had received
very positive feedback when a presentation was made for the first
time in 2006. Ample time was also given to address all queries
by the shareholders during the question and answer session.
It was a busy year for the
top management who participated in various investor conferences
around the world to meet and field queries from current and potential
investors. The Group remained accessible for one-to-one meetings
and responsive to investor queries received in the course of the
ENHANCING ENVIRONMENTAL PERFORMANCE
and Managing Sustainable Quality Developments
CDL has continued to stretch
the boundaries in developing environmentally sustainable projects
which are of quality that caters to the lifestyle needs of our
customers. Using a holistic approach, CDL takes the entire environmental
supply chain into consideration. From design, use of materials,
to construction and finally the maintenance and lifespan, all
of these elements are carefully assessed when making plans for
We constantly source and incorporate
new, innovative and state-of-the-art technologies to help build
greener developments so as to minimise the use of natural resources
and to mitigate our impact on the environment. In 2007, we set
another industry benchmark by being the first private developer
to attain the highest honour – BCA Green Mark Platinum Awards
by the Building and Construction Authority (BCA) for environmental
sustainability. The Oceanfront @ Sentosa Cove (residential) and
City Square Mall (commercial) were awarded this prestigious award
which had previously only been accorded to public sector developments.
Mall, Singapore's first Eco-Mall, is the first private
commercial project to receive the BCA Green Mark Platinum
water and energy efficiency, The Oceanfront @ Sentosa
Cove is the first private residential project to receive
the BCA Green Mark Platinum Award.
Furthermore, with the established
Environmental, Health and Safety (EHS) Policy firmly in place
since 2003, all our developments are subject to stringent independent
audits also known as the CDL 5-Star EHS Assessment system conducted
every quarter. Complemented by training and peer learning, the
EHS performances of the developments have been positive.
We measure and monitor our
energy and water usage as well as our waste management at our
worksites. This will enable us to establish our own benchmarks
for further progress.
With the incorporation of more
eco-friendly designs, use of better technology and more stringent
site controls, the use of energy and fresh water has been reduced
by as much as 20%. However, the increase in construction waste
is due to the fact that there were also more projects in the finishing
stages (when more waste is generated) in 2007 as compared to 2006.
Performance—Resources used in project development
(per square metre of gross floor area)
In 2007, CDL’s Property
Division (Investment Properties) achieved the coveted ISO 14001:
2004 (Environmental Management System) and ISO 9001: 2000 (Quality
Management System) certification for 14 commercial buildings it
manages – a first in Singapore.
Constantly striving to achieve
even higher standards of environmental and management performance,
the Property Division has in place an Integrated Management System
which provides high-quality, pro-active, excellent service as
well as a safe and green environment for the tenants. Key areas
such as tenant satisfaction, consumption levels of precious natural
resources such as water and energy are closely monitored to improve
The Property Division has already
been successfully running a recycling programme in 17 of its commercial
properties. However, taking recycling up one notch, food recycling
was also incorporated at Plaza by the Park in November 2007. There,
the food waste from the food court is collected daily and recycled
to generate renewable energy from bio-gas and compost. If successful,
there are plans to expand this programme further.
Influencing Our Stakeholders
– Offices Go Green!
In 2007, “Climate Change”
was the buzz word as more governments and corporations reviewed
their business processes and looked at ways to reduce their carbon
footprints. Leveraging on this rising eco-awareness and as one
of Singapore’s largest landlords, it was timely for us to
embark on a campaign that could proactively involve our tenants
to play a part in conserving the environment.
In yet another pioneering green
initiative, CDL kicked off the pilot programme “1°C
Up” in five commercial buildings in October 2007 including
Republic Plaza, City House, Fuji Xerox Towers, Plaza by the Park
and Central Mall (offices). In this innovative programme, CDL
hopes to encourage our tenants to make an active contribution
towards the green cause by agreeing to raise the airconditioning
temperature in their office by 1°C and yet not compromising
on their comfort levels.
With much enthusiastic support
from our tenants, an overwhelming participation rate of over 90%
was achieved. Heartened by such positive response, CDL extended
the programme to another six buildings in December. While the
monetary savings may not be substantial, an independent consultant
estimates that with good participation, the carbon emissions from
these 11 buildings can be reduced by about 1.5 million kg per
year which is equivalent to 6,000 trees required to absorb the
same amount of carbon emitted into the environment each year.
Walking the talk, CDL established
video-conferencing facilities in the office to enhance productivity
and lessen the need for business travel. As part of CDL’s
“Let’s Work Green!” initiative to promote green
practices at the workplace, a customised cutlery set was given
to employees to reduce the use of disposable cutlery so as to
conserve natural resources.
Valuing Our People
2007 has been a challenging
year as a thriving economy has also created a tight labour market.
CDL has always placed great emphasis on the importance of the
human asset in the corporation. We continue to offer a comprehensive
range of policies and practices that not only cultivate and enhance
the talent and skills of our employees but helps create a positive
environment that places immense value on a quality workplace and
work-life balance for all employees.
More information can be obtained
in the Human Resource Review page.
REACHING OUT TO THE
Sharing its success with the
community has also been a guiding principle for CDL. We firmly
believe in looking beyond making monetary contributions by actively
engaging the community. We have been energetically managing a
wide range of sustainable outreach initiatives that require alternative
resources such as time and skill. CDL has also been a strong supporter
of the government’s 3P Partnership Model with efforts that
encompass the People, Private and Public sectors.
Our focus in the community
remains in four core areas, namely the environment, the arts,
youth development and the less fortunate.
Project Eco-Office, an outreach
initiative founded by CDL and Singapore Environment Council (SEC)
in 2002 received heightened interest amongst the business community.
The 2007 Project Eco-Office Seminar titled “Converting your
Office into a Green Office” saw an enthusiastic turnout
of over 150 top management executives from all over the island.
The list of Green Office Label Recipients has also grown steadily
and 17 new offices were certified green in 2007 in addition to
another three re-certified offices including CDL.
Project Eco-Office also took
to the airwaves for the first time in a four-day radio campaign
on 93.8Live. Listeners had the opportunity to find out more about
Project Eco- Office and also to learn from two new Green Office
Label recipients who shared their motivation and strategy in creating
a green office. 93.8Live has an estimated 270,000 PMEB (Professionals,
Managers, Executives and Businessmen) listeners tuning in weekly.
CDL also strongly supported
the National Environment Agency (NEA)’s Clean and Green
Singapore (CGS) campaign in November 2007 in three key events.
Together with SEC, we presented the “Green Living Exhibition”,
a mobile home-living exhibition display which promotes green practices
at home at the CGS Opening Ceremony held at Bishan Park. The event
attracted more than 20,000 visitors. To drive the green message
home, a Green Living Guide Pamphlet and an attractive fridge magnet
with water-saving tips were given to visitors.
Together with other corporate
sponsors, CDL joined in the CGS Corporate Environmental Outreach
Run 2007 at Semakau Landfill as a platinum sponsor. CDL employees
gamely joined in the run and planted the Sea Hibiscus Triple Color
to commemorate the event. Funds raised at the event were channeled
to six local environment-related Non-Governmental Organisations.
For the last decade, CDL has
been a corporate patron of China Exploration and Research Society,
whose mission is to conduct research as well as nature and culture
conservation projects in remote regions of China. CDL continued
its annual financial aid, plus an in-kind contribution of hotel
CDL also produced its 11th
calendar in the “Beauty of Nature” series which highlights
the importance of nature conservation. Distributed to its business
associates and employees, the calendar reinforces the message
on the need to protect our environment daily.
Helping to groom and develop
the youths towards the progress of Singapore remains a significant
area of focus. As Singapore strives to become an education and
research hub, CDL played its part in the advancement of education
in Singapore with contributions to the Nanyang Technological University
(NTU) Wee Kim Wee Legacy Fund, REDAS Research & Education
Fund as well as bursaries for needy students from Singapore Polytechnic.
To further cultivate the heightened
interest in CSR, CDL was the main sponsor of the National University
of Singapore (NUS) CSR Awareness Month organised by the NUS Students’
CSR Group and NUS Business School. The activities included a speaker
series, film screening and exhibition.
In addition, helping our youth
“scale to new heights”, CDL supported the annual National
Vertical Marathon (NVM), organised by the NTU Sports Club. CDL’s
flagship building, Republic Plaza which is one of the tallest
skyscrapers in Singapore, was scaled by some 1,629 sports enthusiasts
— a record in the event’s 13-year history. CDL sponsored
the venue as well as prizes for the CDL Corporate Challenge, a
new category introduced to inspire stakeholders such as our tenants
and business associates to participate. CDL employees also sweated
it out in the Special Olympics Challenge by assisting 36 intellectually
disabled students ascend the building in relay-style.
For the third year running,
CDL participated in NEA’s Corporate and School Partnership
Programme. Besides Catholic High School (Primary), which CDL had
“adopted” in 2005, it also took under its wing Catholic
High School (Secondary) and St. Nicholas Girls’ School (Primary
and Secondary). The schools’ environmental projects were
showcased to over 13,000 visitors at the CGS Schools Carnival
2007. CDL employees also lent a hand and volunteered their time
at St. Nicholas Girls’ School to mentor and assist the students
with their project.
environmental consciousness amongst the youths of today,
CDL has been "adopting" schools such as Catholic
High School under the NEA's Corporate & School Partnership
CDL continued to support its
long-standing partner National Youth Achievement Award (NYAA)
Council, one of Singapore’s most established youth organisations
with some 130,000 participants, dedicated to nurturing the skills
and talents of the youths to benefit the community.
of its sustained commitment to youth development, CDL
was presented with The Distinguished Partner of the NYAA
by Prime Minister Mr Lee Hsien Loong, at the Awards Ceremony.
Sustaining the Arts
The 3rd CDL Singapore Sculpture
Award and Exhibition was held in September 2007. This initiative
has firmly established itself as a key competition in the local
arts calendar. Based on the theme “Aspirations”, Tan
Wee Lit, 29 years old, a postgraduate student at The School of
the Art Institute of Chicago, took home the top prize in the Open
Category with his art piece “All the Essentially Essential”.
13-year-old See Wenhan, a student from Victoria School, won the
top prize in the Student Category with “Peaceful Waves”.
With close to half of the participants in the Student Category
ranging between the ages of 12 and 14, it certainly underscores
the competition’s success as a platform in nurturing artistic
creativity in the young.
the Essentially Essential”, the winning work of
the 3rd CDL Singapore Sculpture Award by Tan Wee Lit,
was created for the designated sculpture site at East
In January 2007, CDL also created
history when it unveiled the “Reed Sculpture” by Peter
Chen, the winning work commissioned from the inaugural CDL Singapore
Sculpture Award. The sculpture was the first donation made under
the National Heritage Board’s Public Art Tax Incentive Scheme.
Photography is another art
form that CDL has been promoting amongst the youths. The 2nd Singapore
Young Photographer Award (SYPA) was launched in 2007 to discover
budding talents. The “CDL Young Architectural Photographer
Award”, a sub-category of SYPA, aims to cultivate more interest
in the photography and appreciation of architecture.
CDL was also an integral partner
of circa2007, a photo outreach programme, managed by NTU, comprising
a series of talks, workshops and exhibitions targeted at youths.
Lending a Hand to the
CDL kept close to its heart
many long-standing beneficiaries and helped spread much goodwill
and cheer with a host of activities round the year. We are proud
to have cultivated an engaged workforce through the company’s
employee volunteer programme, City Sunshine Club (CSC), which
facilitates and encourages staff and their families to participate
in voluntary work.
CSC’s major programmes
aim at improving the lives of the lonely elderly through befriending
visits and outings, nurturing children at risk of delinquency
and supporting CDL’s community outreach activities. A dynamic
“progiving” environment has been instrumental in inspiring
the employees to actively engage in community work. In 2005 and
2006, employee volunteerism was 70%. In 2007, some 2,242 manhours
Since February 2007, CSC expanded
its youth programme to include the youths at Kolam Ayer, volunteering
at Viriya Community Services. For the first time, CSC also helped
to organise a stay-in character building camp at the SAF Yacht
Club for these less privileged youths.
CDL also supported multiple
Assisi Hospice programmes, having built a close working relationship
with the organisation since 1999. All 300 CDL employees participated
in the “Teddy Bank” Fund-Raising Campaign, rallying
the support of their family, friends and business associates,
and raised some $60,000 in one month. Employees even dressed up
the Teddy Banks in a pageant judged by the children from the Hospice!
CSC volunteers continued to build a close rapport with the children
in their annual twice-yearly hosting and befriending outings and
helped to paint and touch up the Hospice with the help of our
business associates in 2007.
$60,000 for Assisi Hospice in its "Teddy Bank"
fund-raising campaign, CDL employees put their creativity
to the test by decorating the Teddy Banks for the enjoyment
of Assisi's patients.
For two weeks, CDL employees
rendered their time and effort, giving up their lunch hours to
help sell Duck Adoption Certificates for the Great Singapore Duck
Race outside CDL buildings. Employees also contributed by approaching
their business associates for donations and the funds raised went
to Touch Community Services.
of Distinction in 2007
|For the Business
|President’s Award for the Environment
||The first corporate recipient in recognition
of its significant and longterm contributions towards environmental
sustainability through its business and community efforts
|Building and Construction Authority Awards
||Garnered 10 awards including two Green Mark Platinum Awards
|Royal Society for the Prevention of Accidents
||The only company in Singapore to be conferred the Gold Award
for outstanding Occupational Health and Safety Management
for two consecutive years in 2006 and 2007
|Green Office Label Certification
||For achieving good environmental performance in an office
|ISO 14001: 2004
(Environmental Management System)
& ISO 9001: 2000
(Quality Management System)
|Awarded to 14 CDL Investment Properties
|For the Community
|President’s Social Service Award
||For its firm commitment and outstanding voluntary contributions
to the community over the years
|CSR Recognition Award
||For sustained commitment towards CSR
|The Distinguished Partner of the NYAA
||For its continuous partnership and strong support of National
Youth Achievement Award (NYAA) towards youth development
||For significant contributions towards Singapore’s
|Patron of the Arts Award 2007
||In recognition of its contributions to the arts
It is my hope that this Report
has provided an insight into some of CDL’s CSR programmes
in 2007. CSR is an unending journey and one that we will continue
to draw on our experience, commitment and dedication. It is an
integral component that serves CDL’s mission to be the partner
of choice for our investors, business associates, employees, customers
and the community at large.