CapitaLand Group
Explore By Interest

Global

English

About Us
Our Impact
Media
Careers
Contact Us

Global

English

Modal Title

CapitaLand Investment and its listed trusts achieve top sustainability recognition in 2023 GRESB Real Estate Assessment

04 Oct 2023

  • CapitaLand Investment and CapitaLand Integrated Commercial Trust maintained the highest 5-star rating
  • CapitaLand China Trust received a 5-star rating for the first time 

CapitaLand Ascott Trust (CLAS) retained the top position in the hotel category for the third consecutive year and achieved a 4-star rating for 2023 GRESB. As part of CLAS’ sustainability efforts, all its properties in Belgium, Germany including Citadines Arnulfpark Munich (pictured) and the United Kingdom are powered by renewable energy.

Singapore, 4 October 2023 – CapitaLand Investment Limited (CLI) and its real estate investment trusts (REITs) and business trusts have achieved top recognition for their sustainability achievements in the 2023 GRESB Real Estate Assessment.  CLI and CapitaLand Integrated Commercial Trust (CICT) maintained the highest 5-star rating, placing them in the top 20% of the benchmark globally.  For the first time, CapitaLand China Trust (CLCT) received a 5-star rating.  CapitaLand Ascendas REIT (CLAR), CapitaLand Ascott Trust (CLAS) and CapitaLand India Trust (CLINT) received a 4-star rating.  CLAS also retained the top position in the hotel category for the third consecutive year.  CLI, CICT, CLCT, CLAR, CLAS and CLINT were awarded an ‘A’ for public disclosure.  CapitaLand is also the first real estate company in Singapore to be consistently ranked among the top 20% since 2011.

With CLI’s, CICT’s and CLAS’ ratings on GRESB 2023, they will obtain interest rate savings from their existing sustainability-linked loans based on their GRESB achievements.  As at 30 June 2023, CLI and its listed REITs and business trusts have partnered with 19 financial institutions1 to secure a total of S$14 billion in sustainable finance comprising sustainability-linked loans and bonds, green loans, green bonds and perpetual securities.  In 1H 2023, CLI and its listed REITs and business trusts have secured S$2.8 billion through 11 sustainable financing instruments, of which S$1.6 billion from six sustainability-linked loans are pegged to their performance on GRESB.

Rock Square, a shopping mall in Guangzhou owned by CapitaLand China Trust (CLCT), achieved LEED Gold Certification by the US Green Building Council after undergoing asset enhancement initiatives. CapitaLand Investment, CapitaLand Integrated Commercial Trust and CLCT received the highest 5-star rating in 2023 GRESB, placing them in the top 20% of the benchmark globally.

Mr Vinamra Srivastava, CLI’s Chief Sustainability Officer, said:

“CLI integrates sustainability into everything we do, including our business strategies, investments, operations, financing and in developing the capabilities of our employees.  The continuous recognition by prestigious international indices such as GRESB is a testament to our long-term commitment to environmental, social and governance (ESG) excellence.  It also builds trust and confidence amongst our stakeholders by providing a credible demonstration of the progress we have made in our ESG journey.  The interest rate savings from our sustainability-linked loans are also reinvested to fund our decarbonisation initiatives and innovations.  This amplifies the positive impact we make on the environment and communities where we operate, as we seek to achieve our elevated ESG targets in our refreshed 2030 Sustainability Master Plan.”

Mr Ruben Langbroek, GRESB’s Head of Asia Pacific, said: “We would like to commend CLI and its listed trusts for consistently achieving top ratings in the GRESB assessments.  CapitaLand has been an early participant in the GRESB assessments since 2011 and it has continued to demonstrate leadership in sustainability in the real estate sector.  By pegging their sustainability-linked loans to their GRESB rankings, CLI and its listed trusts have shown their commitment to delivering tangible results to investors, especially in decarbonising its portfolio.”

The GRESB Real Estate Assessment is a global benchmark that captures information regarding ESG performance and sustainability best practices for real estate funds and companies worldwide.  The assessment is shaped by what investors and the industry consider to be material issues in the sustainability performance of real asset investments and is aligned with international reporting frameworks.  In 2023, a total of 2,084 listed and non-listed portfolios participated in the real estate assessment.  GRESB will announce the global and regional sector leaders on 17 October 2023.

Continually recognised as a global sustainability leader by international indices

In addition to GRESB, CapitaLand has received numerous other recognitions for its sustainability leadership:

Global 100 Most Sustainable Corporations in the World 

- Included on the index 11 times.

Dow Jones Sustainability World Index 

-  Included on the index for 11 consecutive years.

Dow Jones Sustainability Asia Pacific Index

-  Included on the index for 14 consecutive years.

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

Global Sustainability Yearbook

- Included on the index 14 times.

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

Carbon Clean 200 

-  Included on the index for five consecutive years.

MSCI World ESG Leaders Index

-  Included on the index for nine consecutive years.

FTSE4Good Index Series

-  Recognised for 10 consecutive years.

Find out more about CapitaLand’s sustainability initiatives at https://www.capitaland.com/sustainability

--------------------------------
1 Please refer to Annex for the list of financial institutions that CLI and its REITs and business trusts have partnered with for sustainable financing as at 30 June 2023. 

CLI and its REITs and business trusts have received strong support from a global network of capital partners for sustainable financing, with CLI and its REITs and business trusts securing S$14 billion in sustainable finance from 19 financial institutions as at 30 June 2023.  This includes S$2.8 billion secured in 1H 2023.

The following is a list of the partners:

1.     Australia and New Zealand Banking Group Limited

2.     Bank of China Limited

3.     China Construction Bank Corporation

4.     CIMB Bank Berhad

5.     Crédit Agricole Corporate and Investment Bank

6.     DBS Bank Ltd.

7.     JPMorgan Chase Bank

8.     Malayan Banking Berhad

9.     Mizuho Bank, Ltd.

10.  MUFG Bank, Ltd.

11.  Natixis

12.  Oversea-Chinese Banking Corporation, Limited

13.  Societe Generale

14.  Shanghai Pudong Development Bank

15.  Sumitomo Mitsui Banking Corporation

16.  The Bank of East Asia

17.  The Bank of Nova Scotia

18.  The Hongkong and Shanghai Banking Corporation Limited

19.  United Overseas Bank Limited

Download(s)

NEWS RELEASE

Download

You may also be interested in

Ascendas India Trust (a-iTrust) plans to adopt sustainable design principles and green building standards for its inaugural data centre campus in Navi Mumbai, India, to include features such as intelligent energy management systems, solar panels and waterless cooling systems. This year, a-iTrust secured S$250 million of sustainability-linked loans.