Singapore, 8 February 2024 - City Developments Limited (CDL) has once again been included in the 2023 CDP A List for its environmental leadership in climate change and water security initiatives. This marks the sixth consecutive year CDL has received an ‘A’ score for climate change and the fifth year with an ‘A’ score for water security. CDL has been the only company in Southeast Asia and Hong Kong to remain on the CDP A List for six consecutive years.
CDP’s annual environmental disclosure and scoring process are internationally recognised as the gold standard for corporate environmental transparency. A global non-profit initiative that tracks and discloses climate data of companies worldwide to manage climate and environmental threats since 2000, CDP holds the largest environmental database in the world. Its scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. In 2023, more than 740 financial institutions with over US$136 trillion in combined assets requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform, with responses from over 23,000 companies received. Out of 21,000 companies, only less than 400 scored an ‘A’ for their leadership in environmental transparency and performance on climate change, deforestation and water security.
Besides the CDP A list, CDL’s Environmental, Social and Governance (ESG) best practices have been recognised by leading global sustainability ratings, including MSCI, for 13 consecutive years. CDL is also ranked within the ESG Regional Top Rated and ESG Industry Top Rated in Sustainalytics’ 2024 ESG Risk Rating assessment, amongst others. These accolades assess topics ranging from emissions reduction to carbon management strategies and corporate governance. Last month, CDL clinched the world’s most sustainable real estate management and development company, securing the 22nd spot on the 2024 Global 100 Most Sustainable Corporations in the World list, leaping from its 28th position last year.
Mr Sherman Kwek, CDL’s Group Chief Executive Officer, said, “The global climate emergency requires urgent action to decarbonise and address water security. Maintaining our position on the CDP A List reaffirms our commitment towards creating lasting value for shareholders, communities and the environment. We will continue to innovate and work towards a more resilient and sustainable future.”
Ms Sherry Madera, CDP’s Chief Executive Officer, said, “Congratulations to all the companies on CDP’s A List, and those companies that started or accelerated their journey towards environmental transparency in 2023 – we saw a 24% increase of disclosures last year and that trajectory is to be applauded. Only by laying the groundwork of disclosure can companies show they are serious about their vital part in securing a net zero, nature-positive future. Earning a place on the A List is about more than the score. It’s an indication of high quality, complete data that equips companies with a holistic view of their environmental impact, serves as a baseline for transition plans and – crucially – enables them to follow through on their ambitions. As we move deeper into the Decade of Action, and as CDP continually raises the bar for what represents environmental leadership, the work of A List companies is never complete. We look forward to seeing all companies turn their commitments into further and more meaningful and effective action.”