CDL pledges to reach net zero carbon emissions by 2030

The developer is also advocating for all buildings to be net zero carbon in operation by 2050.
The developer is also advocating for all buildings to be net zero carbon in operation by 2050. PHOTO: ST FILE

SINGAPORE (THE BUSINESS TIMES) - City Developments Limited (CDL) has pledged to reach net zero carbon operations for buildings under its direct control by 2030.

The developer, which has signed the WorldGBC's Net Zero Carbon Buildings Commitment, is also advocating for all buildings to be net zero carbon in operation by 2050. In line with pledging the commitment, the developer will have to disclose, reduce and verify operating emissions of its managed buildings.

A net zero carbon building is one that is highly energy-efficient and is powered from on-site and/or off-site renewable energy sources and offsets.

CDL has charted out ways to achieve its 2030 target, which will include turning to smart technologies and innovation to maximise buildings' energy performance; achieving 100 per cent renewable energy; phasing out diesel across all operations; as well as educating building users to change mindsets and action.

Meanwhile, CDL has developed a Smart, Sustainable and Super Low Energy (3S) Green Building Framework, which is in line with the Building and Construction Authority (BCA) Super Low Energy (SLE) building requirements as well as international standards to improve health and wellness in buildings. It has plans to introduce BCA SLE certified buildings in its portfolio.

CDL group chief executive officer, Sherman Kwek, said: "CDL recognises that decarbonisation is a critical step towards global climate action and this is especially relevant to the building and construction sector, which accounts for a significant amount of carbon emissions.

"Taking this bold step forward reinforces our climate mitigation and adaptation efforts to build a more sustainable future in Singapore and abroad."

Other developers have also been stepping up their sustainability efforts recently by pledging sustainability goals.

Last month, Frasers Property announced its plans to achieve net zero carbon by 2050, which is one of five new sustainability goals that it outlined last year. The group is also striving for 80 per cent of all its owned and managed assets to be green-certified by 2024, with all new projects under development to be certified by this year. In addition, it plans to finance the bulk of its sustainable asset portfolios with green and sustainable financing by 2024.

Meanwhile, Australia-based Lendlease - which manages Singapore Exchange-listed Lendlease Global Commercial Reit - is looking to reach net zero carbon emissions by 2025 and absolute zero carbon emissions by 2040.

Lendlease plans to create a decarbonisation investment strategy for both its net zero and absolute zero targets, phase out the use of fossil fuel-based energy sources in its operations, as well as transition to 100 per cent renewable electricity by 2030.

Here in Singapore, its portfolio includes suburban malls such as Jem and Parkway Parade.