Sustainability Report 2015

For over 50 years, creating spaces for people to live, work and play in has been CDL’s core business. As Singapore embarks on its twin goals of becoming a green and smart nation, CDL will continue to develop sustainably-built and marketable properties to create long-term value for owners and occupants throughout our life cycle management.

Value of Green Buildings

Our commitment to sustainability has gained traction as the business case for green property investment becomes increasingly evident. According to a 2014 Building and Construction Authority (BCA) study8 of 40 commercial properties in Singapore, existing buildings retrofitted to a Green Mark Gold, GoldPLUS or Platinum status can achieve 20% energy savings on average. Another study by BCA and the National University of Singapore reinforced this finding and concluded that green office buildings can achieve an average reduction of 17% in total operating expenses and realise capital value gains of 2.7% within a payback period of about 6.3 years after the retrofit.

Sustainable Construction

We consider applying sustainable construction methods and technologies as a way to enhance the financial value of our properties. Mindful of the environmental impact of our developments, we continuously review and proactively manage the use of natural resources through adopting innovative construction methods and green features. To optimise environmental benefits, sustainability considerations are factored into the entire life cycle starting from land acquisition to the conceptualisation of building design.

With a commitment towards environmental conservation that extends beyond compliance, CDL positions itself to seize opportunities that arise from the increasing regulatory changes. Since 2011, CDL has set a minimum target for all our new developments to be certified BCA Green Mark GoldPLUS, two levels above the mandatory Green Mark certification requirement. To date, we have amassed a portfolio comprising over 70 Green Mark certified developments and buildings, of which 33 are awarded with the highest Green Mark Platinum rating. This will complement BCA’s target of greening at least 80% of Singapore’s building stock by 2030.

Apart from greening our urban-scape, our efforts have also translated to an estimated energy savings of $36.5 million for 57 of our Green Mark certified buildings between 2008 and 2014. For CDL’s longstanding commitment to green building excellence, we received the inaugural BCA Built Environment Leadership Award in 2009 and the BCA Green Mark Platinum Champion Award in 2011, and we remain as the most Green Mark-accorded private developer in Singapore to date. Please click here for the full list of CDL’s Green Mark awarded properties.

Retrofitting Existing Buildings

New developments aside, CDL has also set the pace for greening existing buildings. Over the past few years, we retrofitted several of our commercial buildings by upgrading chiller plants, introducing motion sensors, and replacing energy-efficient lighting and recladding façades. On average, this yielded an estimated annual energy savings of close to 14 million kWh which is equivalent to almost $3.6 million in 2014. In fact, seven out of the 12 Green Mark Platinum awards in 2014 were for existing buildings that demonstrated improved environmental performance during the re-certification process.

8 Source: Snippets of 3rd Green Building Masterplan: Featuring the Business Case for Green Buildings