CapitaLand cuts carbon emissions and water intensity, exceeding 2020 reduction targets

In addition to exceeding its 2020 reduction targets for carbon emissions and water intensity, the property group also said it has avoided incurring $108 million in utilities cost since 2009.
In addition to exceeding its 2020 reduction targets for carbon emissions and water intensity, the property group also said it has avoided incurring $108 million in utilities cost since 2009.PHOTO: BLOOMBERG

SINGAPORE - CapitaLand has cut its carbon emissions intensity by 26.2 per cent and reduced its water intensity by 21.8 per cent, compared with levels in 2008.

This exceeds the group's 2020 reduction targets of 23 and 20 per cent respectively, said CapitaLand on Tuesday.

The property group, in its eighth Global Sustainability Report, also said it has avoided incurring $108 million in utilities cost since 2009. This arose from 18.8 per cent reduction in energy consumption as well as a 21.8 per cent drop in water consumption reduction.

It has also diverted 4,700 tonnes of recyclable waste from landfills, and installed over 80 electric vehicle charging stations in its properties worldwide.

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In a message to stakeholders, CapitaLand president and group chief executive Lim Ming Yan, said: "As a sustainable real estate developer, we want to build a lasting company that adds value to our stakeholders across our diversified global real estate portfolio of integrated developments, shopping malls, serviced residences, offices and homes.

"Such global developments will spur us to continually strive for operational efficiency, and leverage on innovation to build resilient and sustainable real estate of the future."

Mr Lim added that despite the challenging environment last year, CapitaLand continued to deliver a set of resilient financial results of $5.3 billion of total revenue and $2.4 billion of earnings before interest and tax from continuing operations. The group's return on equity also improved to 6.6 per cent, up from 6.1 per cent in 2015.

CapitaLand is one of the few real estate developers in Singapore to cover its international property portfolio in over 20 countries and global workforce of more than 12,700 staff (in 2016) in its sustainability report.