{"id":94187,"date":"2018-07-18T10:23:47","date_gmt":"2018-07-18T03:23:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdls-carbon-emission-reduction-now-scientifically-validated\/"},"modified":"2018-07-19T01:04:14","modified_gmt":"2018-07-18T18:04:14","slug":"cdls-carbon-emission-reduction-now-scientifically-validated","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdls-carbon-emission-reduction-now-scientifically-validated\/","title":{"rendered":"CDL\u2019s carbon emission reduction now scientifically validated"},"content":{"rendered":"


\nCity Developments Ltd (CDL) has emerged as the first Singapore property developer to have its carbon emission reduction assessed and validated by the Science Based Targets Initiative (SBTi), according to an SGX filing today (18 July).
\nSBTi \u2013 a collaboration between UK-based CDP, World Resources Institute, United Nations Global Compact and World Wide Fund for Nature (WWF) \u2013 helps firms to set and certify science-based carbon reduction targets to limit global warming to below 2\u00b0C, as set in the Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC).
\nWith this, CDL intends to slash its greenhouse gas (GHG) emissions per square metre (psm) at its office as well as commercial and industrial buildings by 59 percent from 2007 to 2030. It is on track to meet this target after it achieved a 35 percent reduction last year.
\nFor its developments, the company pledges to use eco-friendly materials to cut embodied carbon by 24 percent by 2030. Embodied carbon refers to GHG emissions from the manufacture, transport, assembly, replacement and deconstruction of building materials.
\nMoreover, CDL has instructed its unit Millennium & Copthorne Hotels to set a science-based emissions reduction target by 2025, as it accounts for nearly 90 percent of the emissions of its subsidiaries.
\n\u201cTo accelerate our climate action, we have adopted the science-based emissions reduction targets and climate change scenario analysis. These efforts help to future-proof our business by identifying risks for mitigation and adaptation,\u201d said CDL Group CEO Sherman Kwek.
\nHe said CDL has proactively introduced initiatives for low-carbon operations, as the building and construction sector contributes a third of global GHG emissions.
\nFurthermore, Singapore\u2019s upcoming carbon tax will see large emitters pay $5 per tonne of carbon emissions from January 2019 to between $10 and $15 per tonne by 2030. If CDL fails to adequately reduce its carbon emissions and global temperature rise by 2\u00b0C, it could incur annual cost of over $20 million in 2030.
\n\u00a0
\nSenior Content Producer, Christopher Chitty, edited this story
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CDL\u2019s carbon emission reduction now scientifically validated<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

City Developments Ltd (CDL) has emerged as the first Singapore property developer to have its...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-94187","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ov9","jetpack-related-posts":[{"id":41014,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-ranked-top-singapore-company\/","url_meta":{"origin":94187,"position":0},"title":"CDL ranked top Singapore company","date":"January 18, 2017","format":false,"excerpt":"\r South Beach is a new sustainable development in Singapore. (Photo: Christopher Chitty) City Developments Limited (CDL) has been named the top Singapore company for sustainability, and the most sustainable corporation in real estate management and development, in the prestigious Global 100 Most Sustainable Corporations in 2017. Aside from clinching\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120162,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-pledges-to-achieve-net-zero-carbon-operations-by-2030\/","url_meta":{"origin":94187,"position":1},"title":"CDL pledges to achieve net zero carbon operations by 2030","date":"February 4, 2021","format":false,"excerpt":"\r CDL pledges to achieve net zero carbon operations by 2030City Developments Limited (CDL) is the\u00a0first property developer in Singapore and the first real estate conglomerate within Southeast Asia to sign the\u00a0WorldGBC\u2019s Net Zero Carbon Buildings Commitment. City Developments Limited (CDL) has pledged to reach net zero carbon operations for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/green-home-edit.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113799,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singtel-capitaland-and-cdl-included-in-global-100-list\/","url_meta":{"origin":94187,"position":2},"title":"Singtel, CapitaLand and CDL included in Global 100 list","date":"January 22, 2020","format":false,"excerpt":"\r Singtel, CapitaLand and City Developments (CDL) placed 95th, 63rd and 36th respectively in the list. Three Singaporean companies have been included in Corporate Knights\u2019 list of the world\u2019s 100 most sustainable big corporations for 2020, reported The Business Times. Singtel, CapitaLand and City Developments (CDL) placed 95th, 63rd and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107589,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-wants-entire-portfolio-to-be-green-certified-by-2030\/","url_meta":{"origin":94187,"position":3},"title":"CapitaLand wants entire portfolio to be green certified by 2030","date":"May 30, 2019","format":false,"excerpt":"\r It\u2019s part of the company\u2019s broader aim of having its carbon emission targets.\u00a0 With the Ascendas-Singbridge acquisition expected to be completed by June, CapitaLand aims to achieve 100 percent green certification for its expanded global portfolio by 2030. 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But energy\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69976,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-leads-spore-property-industry-in-sustainability\/","url_meta":{"origin":94187,"position":5},"title":"CDL leads S\u2019pore property industry in sustainability","date":"October 25, 2017","format":false,"excerpt":"\r City Developments Limited named as the \u201cMost Sustainable Corporation\u201d in Real Estate Management & Development in 2017. (Photo: CDL) City Developments Limited (CDL) announced on Tuesday (24 October) that it was named as Singapore\u2019s highest scoring property firm in CDP\u2019s latest rankings for climate change response. 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