At CDL, we believe that the measure of a company’s success lies beyond its financial performance. Taking a holistic approach towards sustainable organic business growth, we evaluate our economic, social and environmental performance against our targets.
At the very core of CDL’s corporate value system is a firm commitment to conducting business with integrity that is consistent with the highest standards of business ethics and one that subscribes to the principles of social responsibility, which include:
- Ethical Behaviour
- Respect for Stakeholder Interests
- Respect for the Rule of Law
- Respect for International Norms of Behaviour
- Respect for Human Rights
Our business activities, whether they be products or business relations and dealings must be aligned with our value system as well as CSR vision and mission. To this end, we have designed policies that integrate and manage the issues of sustainability and social responsibility within our business operations.
As a responsible and prudent steward to one of Singapore’s largest companies by market capitalisation, CDL strives to uphold high standards of corporate governance, transparency and disclosure.
Anti-Corruption & Compliance
In support of this commitment, CDL was amongst the 17 founding signatories of the Anti-Corruption & Compliance Declaration, Southeast Asia’s first anti-corruption declaration to stamp out graft in 2009.
Within the organisation, this commitment is also translated into cultivating the values of openness, integrity and accountability amongst all CDL employees. CDL has a Whistle-blowing Policy to provide an avenue for employees to raise concerns over a breach of these standards, highlight incidents of malpractice or wrongdoings within the Company.
The Policy applies to any wrongdoing or suspected wrongdoing/fraud involving employees as well as CDL’s business associates including consultants, vendors, contractors and/or any other parties with a business relationship with CDL.
Various secure communication channels to the Company’s appointed Ethics Officer are available to all employees and any parties involved in a business relationship with CDL. The Policy provides assurance that all information reported will be regarded with the strictest confidence.
To reinforce CDL’s commitment to ethics and integrity in our business to employees, communication sessions on CDL’s Whistle-blowing Policy are held for new employees on a regular basis. Full details on the Policy and communication channels are also easily accessible to all employees via CDLNet, the Company’s employee intranet platform.
Through our efforts, we are pleased to report that there were no incidents of corruption, anti-competitive behaviour, anti-trust and monopoly practices, within the Company in 2010. Additionally, there were no incidents of non-compliance with laws and regulations for which significant fines or non-monetary sanctions were issued to the Company.
Since 2002, CDL has established a formal risk management framework to enable significant business risks to be identified, assessed, monitored, managed and reviewed regularly.
More details on CDL’s corporate governance and risk management framework can be found in Chapter 3 of this report.
Backed by 48 years of experience, CDL has been a cutting-edge pioneer known for developing iconic and quality properties which feature new lifestyle concepts and innovative technology.
Designing and Managing Sustainable Quality Properties
As aligned with the triple bottom line model, CDL develops properties that are sustainable, functional and financially marketable.
Our commitment to product stewardship is embodied by our three-pronged approach. Beyond design and management of our properties with environmental sustainability in mind, we undertake engagement initiatives with stakeholders involved in the lifecycle of our properties with the aim of encouraging a shared responsibility to reduce the environmental impact of our developments.
Through this, we are able to improve our business practices and CSR performance to provide value to our community where it is most needed.
In recognition of our sustained efforts in driving green building in Singapore, CDL became the first developer to be accorded the highest tier Green Mark Platinum Champion Award by BCA in 2011. This honour is conferred upon developers who have demonstrated a strong commitment towards CSR and outstanding achievements in environmental sustainability.
In 2008, CDL was also conferred the BCA Green Mark Champion Award, and the first and only recipient of the BCA Built Environment Leadership Award in 2009, in recognition of our role as a green pioneer and champion.
Since the BCA Green Mark certification scheme(1) for buildings was initiated in 2005, CDL has received over 50 Green Mark Awards, with 16 of them being the Green Mark Platinum tier – the highest rating for green developments in Singapore. With our sustained commitment towards developing and managing green properties over the years, we have received the highest number of Green Mark Awards amongst private developers to-date.
|CDL'S BCA Green Mark Awards (since 2005)|
|Green Mark Platinum|
|Green Mark GoldPlus|
|Green Mark Gold|
|Green Mark Certified|
+ + Recertified in 2010
+ + + Recertified in 2011
Beyond a reduction in our carbon footprint, CDL approximates that some S$12 million(2) in electricity will be saved annually from our 27 BCA Green Mark awarded buildings from 2008 to 2010 (estimated figure upon completion of the new and existing buildings).
To consistently achieve a high level of quality and sustainability standards in our properties, we continue to set and work towards improving our targets and measurements.
Moving forward, we have raised the bar for ourselves and our target now is to achieve a minimum BCA Green Mark GoldPlus rating, upgraded from our 2010 target of attaining at least a Green Mark Gold rating, for all new developments.
Through our investment in capacity building initiatives, we aim to enhance the built industry’s green expertise and encourage others to explore more sustainable technologies.
Amongst our sustained initiatives developed to raise standards within our sphere of influence is the CDL 5-Star EHS Assessment System, which was introduced in 2001. More details on this programme can be found from pages 19 to 21 of this report.
Apart from a high level of sustainability standards in our properties, CDL is also committed to achieving a high-quality development. As a measure of quality, we make certain that our properties are wellplaced on BCA’s Construction Quality Assessment System (CONQUAS)(3) ranking chart. CONQUAS is a standard assessment system on the quality of building projects in Singapore.
In 2010, two out of the top three ranked private housing projects were developed by CDL. To-date, six out of the 10 highest ranked private housing projects are CDL developments.
Completed in 2010, The Arte sets a new benchmark in quality, topping the CONQUAS ranking chart with a score of 96.2 - the highest score amongst private residential projects to-date.
Consistency in quality has always been a CDL hallmark over the years. Six out of the top 10 private housing projects on the CONQUAS ranking chart to-date were developed by CDL.
For more details on CDL's environmental performance, refer to Chapter 4 of this report.
CDL is committed to upholding the principles of ethical marketing and fair competition. We have in place a set of rigorous internal procedures to ensure factual accuracy of all marketing collaterals. Our marketing and leasing procedures are also guided by an operations manual, which is reviewed on an annual basis.
All marketing collaterals produced by the Company are compliant with advertising and promotion standards in Singapore, namely the Singapore Code of Advertising Practice(4) that is administered by the Advertising Standards Authority of Singapore which is an Advisory Council to the Consumers Association of Singapore. This self-regulatory code of conduct for advertisers has been endorsed by organisations representing advertisers, advertising agencies and media.
In addition, all advertisements placed with the local dailies published by Singapore Press Holdings (SPH) are subject to copy vetting(5) by the media owner prior to publication, with the objective of ensuring compliance with the rules and regulations stipulated by the various Singapore government bodies, Singapore Code of Advertising Practice and SPH’s company policies.
To-date, there has not been any reported incidents of non-compliance with the Singapore Code of Advertising Practice.
Safeguarding Customer Privacy
CDL takes our responsibility to protect the privacy and confidentiality of our customers’ information very seriously. In addition to internal policies and procedures designed to safeguard customer information, we do not divulge or sell any personal information provided by our customers to third parties for their own marketing or promotional purposes.
All employees are guided by CDL’s Code of Business Conduct and Ethics, and any breach of customer confidentiality will be met with strict disciplinary action.
Communication sessions on CDL’s Code of Business Conduct and Ethics are held for new employees. All employees are also provided easy access to the detailed Code via CDLNet.
To-date, we are pleased to report that there has not been any valid case of infringement of customer confidentiality by CDL employees.
Universal Design Policy
Accessibility in the built environment has become increasingly relevant to Singapore with the need to address the trend of an ageing population and increase in mobility difficulties in the years ahead.
A key enabler for enhancing the level of accessibility in the built environment is Universal Design – which broadly refers to “design for all people”. Worldwide, the move towards universal design has developed to meet the demands and desire for independent living amongst a growing populace with varying degree of abilities and advancing years.
For close to a decade, CDL has been incorporating community-friendly features and best practices in Universal Design within our residential and commercial developments, over and above the mandatory requirements specified in the Code on Barrier-Free Accessibility by BCA.
Taking a holistic life-cycle approach, we apply Universal Design principles from ground zero during the architectural planning and carry them through the construction and building operations and maintenance phases.
Moving forward, we are committed to embracing Universal Design principles in the design and management of all our residential and commercial developments and formalised our commitment with our Universal Design Policy in January 2011. This Policy which is endorsed by our top management, provides us with a framework to achieve our objective of creating an inclusive built environment that caters to the needs of all age groups and people with different abilities, allowing them to live independently and enjoy access to facilities.
- (1)The BCA Green Mark Scheme is an initiative by the Singapore government to move Singapore's construction industry towards sustainable and eco-friendly buildings by incorporating best practices in environmental design and construction and adoption of green building technologies. For more details on the BCA Green Mark Scheme, visit www.bca.gov.sg.
- (2)Savings estimated based on average electricity tariff in April 2011 released by Singapore Power.
- (3)For more details on the CONQUAS Scheme, visit www.bca.gov.sg.
- (4)The Singapore Code of Advertising Practice is a fundamental part of the system of control by which local advertising regulates its activities. It seeks to promote a high standard of ethics in advertising by self-regulation against the background of national law and international law and practice, including the International Code of Advertising Practice published by the International Chamber of Commerce. For more details on the Singapore Code of Advertising Practice, visit www.case.org.sg/advertising_code.html.
- (5)The Copy Vetting Guidelines administered by SPH can be viewed at www.sph.com.sg/vetting_guidelines.shtml.