Developer City Developments (CDL) is moving to slash its environmental footprint as part of its new sustainability blueprint.
Its steps include cutting carbon emissions, reducing waste as well as ensuring the use of sustainable construction materials, CDL said yesterday. The firm is setting a tougher carbon-emissions intensity reduction target, raising it from 25 per cent to 38 per cent from 2007 levels by 2030.
Carbon-emissions intensity refers to the amount of carbon emissions per sq m of floor area.
The target it has set is more than the Singapore Government's pledge of a 36 per cent reduction from 2005 levels by 2030.
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Chief executive Grant Kelley said: "Governments and the international investment community are increasingly holding corporations accountable for their carbon emissions."
Citing the upcoming move by the Government to levy a carbon tax aimed at large direct emitters of greenhouse gases in 2019, Mr Kelley said that "businesses can no longer ignore the impact of climate change risks on their bottom line".
The developer said it reaped more than $16 million in savings last year due to energy-efficient retrofitting and other initiatives implemented for eight office buildings, including Republic Plaza and 11 Tampines Concourse, from 2012 onwards.
CDL achieved a 16 per cent reduction in carbon-emissions intensity from 2007 levels last year, and is on track to meet the 2030 target.
The developer also has a 25 per cent reduction target for energy and water use from 2007 levels by 2030. It already met the figure set for energy use last year, and recorded a 15 per cent cut in water-use intensity.
Apart from lowering carbon emissions, CDL has also pledged to reduce its total waste disposed - both construction waste and general waste from CDL-managed buildings - by 50 per cent from this year's levels.
Another long-term environmental, social and governance goal is to ensure that half of its construction materials are derived from "recycled content, low-carbon sources or certified by recognised environmental organisations", CDL said.
Such materials include repurposed wood or timber certified to be from responsible sources, it told The Straits Times.