CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2022 OVERVIEW 10 11 SUSTAINABILITY DRIVING POSITIVE IMPACT Since 1995, we have been delivering on our ethos of “Conserving as We Construct” to fulfil our role as a builder of living spaces, lives and communities. Our unwavering commitment to Environmental, Social and Governance (ESG) integration for close to 30 years has helped us to mitigate climate risks, meet rising investor expectations and open new growth opportunities by tapping into fast-growing sustainable investment and finance. In 2022, we completed our third Climate Change Scenario Study. As one of the first four companies in Singapore to adopt the Task Force on Climate-related Financial Disclosures (TCFD) in 2017, the study aims for us to be future-ready for physical and transitional risks. Given the rising urgency, scale, and severity of climate change, we expanded the scope and markets included under the CDL Group. The study also considered the disruption caused by the COVID-19 pandemic, which has had a prolonged and significant impact on business operations, financial performance and related climate risks and trends. RECOGNISED ON 14 LEADING GLOBAL SUSTAINABILITY RATINGS, RANKINGS AND INDEXES Only Company in Southeast Asia & Hong Kong to Maintain Double ‘A’s for Climate Change (since 2018) & Water Security (since 2019); Only Singapore Company to Score an A in 2022 ESG Regional Top Rated and Industry Top Rated in 2022 Since 2018 Rated Prime since 2018 Top 8% amongst CDP Participants for Supplier Engagement on Climate Change World’s Top Real Estate Management & Development Company; Top Singapore Company; Only Singapore Company Listed for 13 Consecutive Years; Ranked 5th overall in 2022 Since 2014 Top-ranked Singapore Company in Equileap Gender Equality in Asia-Pacific Special Report 2022, and top-ranked Singapore Company globally in 2021 ESG Leaders Index ESG Transparency Index since 2016 Only Singaporebased Developer listed since 2022 ‘AAA’ rating since 2010 Dow Jones Sustainability Indices (World) from 20112021, and Dow Jones Sustainability Indices (Asia-Pacific) since 2011; S&P Global Sustainability Yearbook 2022 Member 2nd in Asia (Diversified – Office/Retail); GRESB 5-star rating Only Singapore Real Estate Company since 2018 NET ZERO CARBON COMMITMENT First Singapore real estate developer to sign the World Green Building Council’s Net Zero Carbon Buildings Commitment with whole life-cycle approach in two phases: - 2030: New developments and assets under direct management and control in Singapore - 2050: All buildings to be net zero carbon SINGAPORE GOVERNANCE AND TRANSPARENCY INDEX 2022 #4 out of 489 companies 120 BCA GREEN MARK Certifications for our developments and office interiors ACHIEVED ENERGY SAVINGS OF >$38 MILLION from energy-efficient retrofitting and initiatives across all our managed buildings from 2012 to 2022 CDL Green Gallery | Singapore CHANGES IN OCEAN CURRENTS Ocean currents are vulnerable to the effects of climate change. Slower ocean currents change the Earth’s atmosphere, and consequently, the weather. Ocean currents change affects food sources for fishes, marine mammals, and sea birds, which inherently impacts the entire food chain. COLLAPSE OF MARINE FOOD WEBS Marine life is not only impacted by overfishing and pollution, but also impacted when waters warm and currents shift. The warming of our ocean could eventually cause marine food webs to collapse. The collapse of marine food webs jeopardises the livelihoods of over one billion people that depend on the sea for sustenance. SEA ICE LOSS Sea ice, which forms when seawater freezes each polar winter, is melting and thinning more and more each summer. Sea ice loss threatens the survival of animals that live on and below the sea ice platform. Likewise, the livelihoods of communities in the Polar regions will suffer. SEA LEVEL RISE As global warming continues, it is inevitable that massive ice sheets and glaciers in Greenland and Antarctica will collapse and melt entirely, eventually pouring enough water into the ocean to raise global sea levels by several metres. Sea level rise poses an imminent risk to many coastal cities such as Singapore, San Francisco, Shanghai, Sydney, Jakarta. RISING SEA TEMPERATURE About 90% of the excess heat trapped by atmospheric greenhouse gases is absorbed by our ocean. Warmer waters also hold less carbon dioxide, which means more will stay in the atmosphere, accelerating global warming. 90% of coral reefs may perish by 2050 – this directly imperils the livelihoods of coastal communities that depend on reef fishes for sustenance.
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