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·       13th consecutive year on the Dow Jones Sustainability World Index and 16th straight year on the Asia Pacific Index, following MSCI, FTSE4Good and GRESB accolades

·       Increased focus on identifying and reducing material Scope 3 emissions and heightened efforts to reduce Scope 1 and 2 emissions 

Singapore, 30 December 2024 – CapitaLand Investment (CLI), a global real asset manager, has entrenched its position as a world leader in sustainability with its selection as an index company of the Dow Jones Sustainability World Index (DJSI World) and Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific) for 2024.  This marks CLI’s13^th and 16^th consecutive year on the DJSI World and Asia Pacific indexes respectively.

CLI is the only Singapore-based real estate company listed on DJSI World and DJSI Asia Pacific in 2024 under the “Real Estate Management and Development” category, as well as the longest-standing real estate company in Singapore to be listed on DJSI Asia Pacific.  The listings underline CLI’s holistic approach and commitment to sustainability, which includes setting and meeting ambitious ESG targets.

The DJSI World and DJSI Asia Pacific indexes comprise the top 10% and 20% of the world’s largest companies respectively, based on long-term economic, environmental and social criteria.  The indexes serve as benchmarks for investors prioritising sustainable business practices and long-term shareholder value.

In addition to the DJSI indexes, CLI remains a constituent of the 2024 MSCI ESG Leaders Index for the 11^th consecutive year, alongside achieving the MSCI ESG AAA rating for the third year.  CLI’s inclusion in the MSCI Index reflects its dedication to meeting stringent environmental, social, and governance (ESG) standards and public disclosures demanded by institutional investors tracking companies’ sustainability profiles, which demonstrate their ability to manage sustainability risks and opportunities. CLI has also retained its listing on the FTSE4Good Index Series for the 11^th consecutive year, a testament to its dedication to integrating ESG considerations into its operations and strategy since 2014.

In October, CLI and its listed REITs and business trusts achieved leading positions in the 2024 GRESB Real Estate Assessment. CapitaLand India Trust (CLINT), CapitaLand Integrated Commercial Trust (CICT) and CapitaLand China Trust (CLCT) achieved the highest 5-star rating for standing investments, while CLI, CapitaLand Ascendas REIT (CLAR) and CapitaLand Ascott Trust (CLAS) received a 4-star rating for standing investments. CLAS and CICT were also named Global Listed Sector Leader in their respective categories.

Focused Approach to Decarbonisation Drive and Reporting

Bookending CLI’s decarbonisation efforts in 2024 were CapitaLand India Trust’s (CLINT) first captive solar power plant in Tamil Nadu, India, which will generate over 30 million kilowatt-hour (kWh) of electricity annually and meet the power supply needs of 2 million sq ft equivalent of office space; and the launch of the fourth edition of the CapitaLand Sustainability X Challenge (CSXC), which invites innovators to submit sustainability innovations that tackle key areas of concern in the urban environment, including water conservation and resilience, waste management and circular economy, construction decarbonisation, transiting to a low carbon environment, supply chain, health, safety and wellness in buildings, and tenant engagement on sustainability.

This year, CLI also announced its adoption of Cooling-as-a-Service (CaaS) systems in Raffles City Singapore, Plaza Singapura and The Atrium@Orchard, covering 4.8 million square feet (sq ft) of gross floor area (GFA).  At the three properties, owned by CapitaLand Integrated Commercial Trust (CICT) and managed by CLI, the systems are expected to reduce energy consumption across all three properties by over 30%¹, and save at least 118,680 tonnes of carbon emissions over the 15-year operating period². Annually, the energy saved can power more than 4,800 four-room HDB flats³.

In 2024, CLI published its first-ever standalone Climate Resilience Report (CRR) aligned with the Task Force on Climate-related Financial Disclosures (TCFD) in March, and its 15th Global Sustainability Report (GSR 2023) in May, with heightened disclosures on its material Scope 3 indicators.

The Climate Resilience Report, CLI’s third climate scenario analysis, is a comprehensive climate scenario analysis of its diversified portfolio of more than 480 properties in 20 countries⁴ across various asset classes.  The report provides critical insights on the extent of the impact of the various physical and transition risks while enabling relevant teams to make informed decisions on directing green capital expenditure towards parts of the business with significant risk exposure, building resilience and reducing vulnerability of identified properties.

CLI’s GSR 2023 incorporates three new Scope 3 categories deemed material to its operations following the latest review of its full inventory of Scope 3 emissions, emissions hotspots and key decarbonisation levers across its value chain.  The report also highlights CLI’s progress in reducing Scope 1 and 2 emissions intensity and managing climate-related risks as it strives towards its Net Zero targets.

Underpinning CLI’s active contribution to global sustainability efforts in an urban environment is its involvement in the Science Based Targets initiative (SBTi).  As an SBTi Expert Advisory Group member since 2021, CLI plays a pivotal role in shaping science-based target-setting methodologies for the real estate sector and its stakeholders. CLI was the only Singapore real asset company shortlisted for the SBTi Building Sector Guidance, actively contributing to the final publication by using its global portfolio performance as a test bed to qualify the criteria.

Global Recognition as a Sustainability Leader

In addition to DJSI, MSCI and FTSE4Good, CLI has earned numerous recognitions for its sustainability leadership, including:

·     Carbon Clean 200

-     Included on the index for six consecutive years

·     Global Sustainability Yearbook

-     Included on the index 15 time

-     First and longest-standing company in Singapore to be listed on the index

·     GRESB

-     CICT, CLCT and CLINT received 5-star ratings

-     CLAR, CLAS and CLI received 4-star ratings

-     CapitaLand Malaysia Trust received 3-star rating

-     CLAS retained Global Listed Sector Leader top position in the hotel category for the fourth

      time

-     CICT named Global Listed Sector Leader, Regional Sector Leader (Asia) and Regional

      Listed Sector Leader (Asia) in the Diversified – Office/ Retail category

-     CLI, CICT, CLAR, CLAS, CLCT and CLINT all received ‘A’ ratings for public disclosure

To find out more about CapitaLand’s sustainability initiatives: https://www.capitaland.com/sustainability

¹ This is in comparison to total energy consumption in 2023.

² Emission factors used for computation of 2023 emissions were from IEA 2023 v1.1 (AR4 Applied)

³ The average household electricity consumption is based on the Energy Market Authority’s statistics.  

⁴ CLI owned properties as at 31 December 2022.