Property developer CapitaLand and conglomerate Keppel Corp have been praised for their sustainable practices in a report out yesterday.
CapitaLand was named Asia's most sustainable diversified real estate developer by the Global Real Estate Sustainability Benchmark (GRESB) for the sixth straight year.
CapitaLand Mall Trust, Singapore's largest real estate investment trust, was also recognised as the most sustainable listed shopping mall owner in Asia.
GRESB assesses the environmental, social and governance performance of real assets globally, including real estate portfolios.
Companies are evaluated on seven aspects of sustainability: management; policy and disclosure; risks and opportunities; monitoring and environmental management systems; performance indicators; building certificate benchmarking; and stakeholder engagement.
The report ranked Keppel Land, the property arm of Keppel Corp, top in the Residential (Global), China and East Asia sectors, and third among developers globally.
Keppel Reit was ranked second globally across all 733 diversified entities and sectors as well as among 173 companies in the office sector, up from its third position last year in both categories. It also ranked first among listed real estate companies globally.
Keppel Reit was also the first real estate investment trust to be named the most sustainable office landlord in Asia for three consecutive years.
"We will continue to push the envelope in delivering value through innovative and green real estate solutions, to meet the needs and capture opportunities resulting from the rapid pace of urbanisation, especially in our key markets such as China," said Keppel Land chief executive Ang Wee Gee.
CapitaLand group chief corporate officer Tan Seng Chai said: "These results are deeply encouraging and affirm the path that CapitaLand has taken towards creating long-term value for our investors by growing our business in a sustainable manner."