• CDP: The only company in Southeast Asia and Hong Kong to remain on the CDP A List for seven consecutive years; only Singapore company to score double ‘A’s for climate change (since 2018) and water security (since 2019) • MSCI ESG Ratings: Maintained ‘AAA’ leader rating since 2010 • Sustainalytics: Regional and Industry top-rated companies • TIME World’s Most Sustainable Companies 2024 • Environmental Finance Sustainable Company Awards 2024: Sustainability Reporting of the Year – APAC • The Edge Singapore Billion Dollar Club: Best ESG Risk Ratings award for the second consecutive year • BT-UOB Sustainability Impact Awards 2024: Impact Enterprise of the Year (Large Enterprise Category) and Impact Leader of the Year (Ms Esther An, CDL’s Chief Sustainability Officer) • Singapore Corporate Awards 2024: Distinction in Sustainability Reporting (Market Capitalisation >$1 billion) and Best Risk Management Award (Bronze) • The Asset Triple A Sustainable Finance Awards 2024: Conferred Best Sustainability-Linked Loan – Real Estate – Recognised for the launch of CDL’s OCBC 1.5°C sustainability-linked loan of £200 million; Successfully achieved a maximum discount on the interest rate for this loan Sustainability Effectively Integrated into Governance Structures The Board Sustainability Committee (BSC) has direct advisory supervision of the Group’s sustainability strategy and targets, including that of its major subsidiaries, Millennium & Copthorne Hotels Limited (M&C) and CBM Pte Ltd. The BSC also oversees the Group’s sustainability strategy and is apprised of initiatives to address climate and sustainability-related risks and opportunities, sustainable investment plans, as well as sustainability reporting on material ESG issues, work plans, performance targets setting, tracking and reporting. The CSO reports directly to the BSC since 2018. As at 1 January 2025, the BSC comprises four independent directors and the Group CEO. Two meetings are held annually, or more frequently as and when necessary, for the management to update the BSC on the Group’s sustainability plans and performance reviews. In addition, the Company engages the Board in ESG-focused events such as the annual Hong Leong and CDL Group Sustainability Forum since 2014, and the CSO communicates significant global and local ESG trends and practices via emails. The CDL Sustainability Quarterly Report posted online at www.cdlsustainability. com offers regular updates on the Group’s sustainability initiatives and interim EHS performance to the BSC, Sustainability Committee and external audiences. For more details on the BSC’s roles and responsibilities for climate-related risks and opportunities, please refer to the Corporate Governance Report. To achieve effective integration of sustainability throughout the company, the CSO chairs the Sustainability Committee, which comprises members across all business and operational units. For greater accountability, CDL’s ESG performance is linked to the Management Executive Committee (ExCo) members’ remuneration. 30% of the ExCo members’ remuneration is linked to ESG targets, with a respective weightage of 5% for Environmental targets, 10% for Governance targets and 15% for Social targets. With Heads of Departments (HODs) reporting to the respective ExCo members, the ESG Key Performance Indicators cascade down to every level in the organisation. HODs are held accountable for their ESG performances, which are then captured in their annual performance appraisals that correspond with their remuneration and promotions. Board of Directors Environment – Green Building, Decarbonisation and EHS Corporate Governance and Fair Operating Practices Labour Practices and Human Rights Stakeholder Engagement and Consumer Issues Community Involvement and Development CDL Group Subsidiaries including Hospitality and Building Management Board Sustainability Committee Chief Sustainability Officer Sustainability Committee across Business and Operational Units Advisory Panel (Management Executive Committee and Senior Management) CDL SUSTAINABILITY GOVERNANCE STRUCTURE SUSTAINABILITY BOARD STATEMENT SUSTAINABILITY CITY DEVELOPMENTS LIMITED 50
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