CLI continues to ramp up efforts to reduce Scope 1 and 2 emissions Through action and innovation on the ground
Singapore, June 15, 2024 LONDON, Oct 23, 2020 /PRNewswire/ — CapitaLand Investment Limited (CLI) has expanded the scope of its capital goods category to incorporate three new Scope 3 categories deemed significant to the company’s business – purchased goods and operations, fuel and energy-related activities, and upstream transportation and distribution – following a recent review of its complete inventory of Scope 3 emissions, emission hotspots and key decarbonization levers across its value chain. For more information, see the 15Number Global Sustainability Report. CLI has also enhanced reporting in existing categories such as tenant consumption and improved engagement with tenants and the supply chain. The expanded scope reaffirms CLI’s commitment to addressing its sustainability goals and focused implementation progress set out in its 2030 Sustainability Master Plan (SMP).
CapitaSky, Singapore
Mr. Vinamura Srivastava“Our focus on Scope 3 emissions is important as they represent the majority of CLI’s greenhouse gas emissions. We are pleased to have increased our green leases with tenants as tenant emissions are the largest contributor to Scope 3,” said David G. Schneider, CLI’s Chief Sustainability and Sustainable Investment Officer. China and Singapore “We continue this commitment globally, increasing from 43% a year ago to 57% as at the end of December 2023. We are committed to strengthening our engagement with our occupiers and enhancing our supply chain management through various initiatives, such as piloting sustainable building innovations crowdsourced from the global CapitaLand Sustainability X Challenge (CSXC) and rolling out Environmental, Social and Governance (ESG) related capacity building programs for critical suppliers selected through commissioned third-party due diligence ESG checks. Upon completing the program in 2023, these supply chain vendors achieved improved ESG scores. Our continued focus on sustainability through our on-the-ground activities and reporting is in line with our vision to be the global real estate asset manager of choice that creates sustainable positive impact.”
Strengthening efforts to reduce Scope 1 and 2 emissions
In addition to expanding its Scope 3 emissions disclosure, the report highlights progress in reducing Scope 1 and 2 emissions and managing climate-related risks towards achieving its net-zero target. The company expanded its renewable energy footprint with the construction of its first 21-megawatt solar power plant in the state of Tamil Nadu. Indiapowering its assets; expanding green energy use to 44 facilities Singapore, China, India, Australia, Belgium, Germany, India, Japan, Indonesia And that Englandand 10 business parks IndiaThey also abated a total of 41,000 tonnes of carbon dioxide emissions, equivalent to the annual emissions of more than 8,900 gasoline vehicles. CLI continues to expand its renewable energy procurement efforts to further transition to clean energy sources and reduce the carbon footprint of its assets.
Through its Asset Enhancement Initiative (AEI), CLI achieved a 13.4% energy intensity reduction compared to 2019, despite the portfolio’s expansion. In 2023, 60% of buildings in its global portfolio will be green rated, with CLI targeting 100% certification by 2030. Additionally, 46% of CLI’s properties are LEED Gold or above or equivalent certified.
Earlier this year, CLI also released its first-ever Climate Resilience Report, based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which incorporates climate scenario analysis of 480 properties across various asset classes across 20 countries, underscoring CLI’s recognition and transparency regarding the urgency of climate action.
Innovation as a key lever on the path to decarbonization
In 2023, CLI partnered with tenants for the first time to test CSXC innovations on tenant premises. CSXC has more pilots focused on reducing energy and water consumption. Ten CSXC 2023 finalist innovations are being piloted in four countries, bringing the total to 30 innovations in seven countries since 2021. Initiatives such as CSXC and the CapitaLand Innovation Fund (CIF) demonstrate that innovation and sustainability partnerships will play a key role in CLI’s decarbonization efforts.
Leadership in Fund Management and Sustainable Finance
As CLI pivots to global real asset management, it is committed to embedding ESG considerations into every stage of the fund management lifecycle. In line with the 2030 SMP, CLI develops customized ESG strategies to ensure that funds adhere to the highest standards of responsible investment, from fund product development to fundraising, investment, asset management and exit. CLI conducts comprehensive Environmental, Health and Safety (EHS) impact assessments for all new investments and ensures that sufficient capital expenditure is allocated to specific assets to achieve desired ESG outcomes.
CLI aspires to be a leader in sustainable finance, which it achieves through valued strategic partnerships with its financial partners. In 2023, CLI and its publicly listed real estate investment trusts (REITs) and business trusts will: SGD 4.5 billion Total investment in sustainable finance is SGD 16.1 billion Since 2018, interest savings from sustainability-linked loans have been reinvested in decarbonization investments.
CLI’s carbon reduction efforts recognized by major global index
Through strategic initiatives aimed at reducing carbon emissions across its operations, implementing innovative solutions and adopting renewable energy sources, CLI has significantly reduced its environmental impact while increasing operational efficiency. These proactive measures and its commitment to publishing robust reports detailing its actions and findings have led CapitaLand to be recognised in prestigious global sustainability indices such as the Dow Jones Sustainability World Index for 12 years.Number The company this year received its eighth consecutive Five Star rating from the GRESB Real Estate Assessment, highlighting CLI’s commitment to environmental stewardship and reinforcing its position as a pioneer in the sustainable real estate asset management sector.
About CapitaLand Investment LimitedCapitaLand)
Headquarters and listed company SingaporeCapitaLand Investment Limited (CLI) is a leading global real estate asset manager. Asia scaffold. March 31, 2024the CLI is SGD 134 billion Not just assets under management 100 billion Singapore dollars Funds Under Management (FUM) through six publicly traded real estate investment trusts and business trusts, and over 30 private investment companies Asia Pacific, Europe and the U.S. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics, self-storage and data centers.
CLI aims to grow its assets under management and fee related revenues through fund management, accommodation management and commercial management, whilst maintaining effective capital management. As the investment management arm of the CapitaLand Group, CLI has access to the development capacity and pipeline investment opportunities of CapitaLand’s development division.
As a responsible business, CLI has placed sustainability at the core of its operations and is committed to achieving net-zero scope 1 and 2 carbon emissions by 2050. CLI contributes to the environmental and social well-being of the communities in which it operates, while delivering long-term economic value to its stakeholders.
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Issuer: CapitaLand Investment Limited (company name: 200308451M)
Important Notices
This announcement and the information contained herein do not constitute, and are not intended to constitute, an offer of, or a solicitation of, investment products to investors in any jurisdiction in which such an offer or solicitation is not permitted.
Source: CapitaLand Investment Limited
