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SPOTLIGHT ON BUSINESS EXCELLENCE

ASIA BUSINESS CHANNEL

ESTHER AN CHIEF SUSTAINABILITY OFFICER, CDL

BUILDING THE BUILDING THE FUTURE RESPONSIBLY FUTURE RESPONSIBLY THROUGH SUSTAINABILITY THROUGH SUSTAINABILITY

City Developments Limited: Building the Future Responsibly Through Sustainability

A Vision Rooted in Long-Term Value For City Developments Limited (CDL), sustainability is at the core of what they do. Embedded in the company’s philosophy since 1995 and guided by its corporate ethos of “Conserving as We Construct”, CDL recognised early on that the real estate decisions of today carry lasting environmental consequences for its future generations.

This long-term perspective continues to shape its strategy today.

Rather just a corporate responsibility add-on, sustainability is integrated directly into CDL’s core business model. The focus is on future-proofing assets against climate risks, regulatory changes, and evolving market expectations. By aligning sustainability with long investment horizons, the company ensures that its developments remain resilient, relevant, and valuable over time.

Sustainability as a Strategic Advantage – Turning Risks into Opportunities CDL’s

that

At the same time, green-certified buildings

sustainability is not just about responsibility, but also about performance

approach

demonstrates

are increasingly associated with stronger tenant demand, higher asset valuations,

and turning sustainability-related risks into opportunities. Sustainability serves as a critical risk management tool, with real

and greater investor confidence. By being an early mover in low-carbon and climateresilient developments, CDL has positioned

estate assets being directly exposed to climate-related challenges such as extreme

itself ahead of industry trends.

weather, rising temperatures, and stricter environmental regulations. By proactively

The focus on opportunities and risks has enabled the company to turn sustainability

integrating environmental, social, and governance considerations into its operations, CDL reduces the risk of stranded assets while strengthening overall business resilience.

into a genuine competitive advantage.

Flagship Initiatives That Drive Real Impact CDL’s commitment to sustainability is best reflected in its flagship initiatives, which combine innovation, community engagement, and environmental impact.One key initiative is the Building and Construction Authority (BCA) Green Mark Platinum SSA, designed and developed by CDL in June 2017. It is Singapore’s first major people-public-private ground-up initiative and zero-energy facility dedicated to capacity building and thought leadership for climate action and the UN Sustainable Development Goals. After seven years, the SSA was further scaled up with the addition of the 2,690 square feet (sq ft) SSA Annex – marking another milestone in the growth of the SSA community and its partnerships.

Since its inception in 2017 and 2024 respectively, the SSA and SSA Annex have hosted over 1,500 events and training sessions, engaging close to 56,000 stakeholders.Located at the Singapore Botanic Gardens Heritage Museum, the CDL Green Gallery is the first zero-energy gallery in Singapore and the Asia-Pacific dedicated to climate education, engagement, and advocacy. Since its opening in 2013, the gallery has hosted 23 exhibitions, reaching over 438,000 visitors.

Most recently in February 2026, CDL launched the second "Melting Ice, Sinking Cities – The Arctic Impact" exhibition, highlighting the global interconnectedness of climate change and the urgent need for collective action.

Another initiative is the CDL EcoTrain, a repurposed train cabin transformed into a solar-powered climate education hub.

Located at City Square Mall, Singapore’s first eco-mall, it offers interactive exhibits, workshops, and gamified learning experiences that make sustainability accessible to the public. Through this crosssector collaboration, CDL activates underused assets for community engagement, with the CDL EcoTrain reaching over 70,000 visitors and over 1,500 workshop participants in its first year of operation.

Complementing this is the CDL MicroForest, a 5,600 sq ft regenerative tropical microforest developed in collaboration with ecological experts. Designed as a naturebased solution, it aims to reduce urban heat, enhance biodiversity, and improve environmental resilience in dense city landscapes. Beyond its immediate benefits, the microforest serves as a living laboratory, providing insights into how similar solutions can be scaled across urban environments.

Together, these initiatives highlight CDL’s ability to translate sustainability from concept into tangible, community-focused outcomes.

Overcoming Challenges Through Integration and Innovation

Embedding sustainability across a global property portfolio is not without challenges. One of the key obstacles is ensuring that sustainability goes beyond reporting and becomes operational. CDL addresses this by integrating sustainability into board oversight, investment decisions, and executive performance metrics. When sustainability influences capital allocation and leadership incentives, it becomes a core business function.

CDL strengthens sustainability practices beyond its immediate operations.

Partnerships with financial institutions reinforce its leadership in sustainable finance, enabling the growth of environmentally responsible investments.

Since issuing the first green bond by a Singapore company in 2017, CDL has actively pursued sustainable finance to complement the Group’s financial strategy, accelerating investment in the application of innovative green solutions. To date, CDL has secured over S$11 billion in sustainable finance and will continue to mobilise capital for climate action.

Another challenge lies in managing complex data across multiple assets and regions.

CDL has invested in digital monitoring systems and robust carbon accounting frameworks to ensure that sustainability performance is measurable and credible.

As decisions are made from more reliable data, transparency is enhanced, whilst trust with investors and regulators is greatly strengthened.

High costs have always been perceived as the trade-off to sustainability efforts. CDL recognises that while green investments may involve greater upfront expenses, they are reframed as long-term value drivers that mitigate regulatory risks, attract tenants, and protect asset value. This perspective allows the company to balance strong

financial

performances

with

environmental stewardship in its business operations.

Building a Culture of Sustainability At CDL, sustainability is built on its very foundational culture. Employees are equipped with knowledge in areas such as climate risk, carbon management, and sustainable design. Sustainability is deeply embedded in CDL’s core, and this ensures that sustainability is understood and implemented at every level.

CDL extends this integral culture to its external stakeholders. Through green leasing practices and energy efficiency initiatives, CDL works closely with tenants to lower greenhouse emissions and reduce environmental impact. Programmes that reward energy savings encourage behavioural change and promote shared responsibility.

The company also engages suppliers through initiatives such as the CDL SME Supplier Decarbonisation Queen Bee Programme, aimed at improving transparency and reducing emissions across the value chain. By supporting and equipping small and medium enterprises (SME) with tools and knowledge, the climate resilience of CDL’s supply chain is strengthened, while SMEs can remain competitive in a rapidly evolving lowcarbon economy.

To further support SMEs and its supply chain ecosystem, CDL has also partnered with homegrown SME V-Plus Agritech to develop the CDL MicroFarm at City Square Mall. The 68 square metre (sqm) hydroponic facility has collectively harvested over 85 kilogram (kg) of produce, which strengthens local food resilience while advancing nature-positive integration within the built environment.

Driving the Next Phase of Sustainable Growth As CDL advances towards net zero, the focus is on reducing emissions across its portfolio while aligning with global standards. These priorities are a testament to its continued commitment to innovation and leadership in sustainability. In today’s urban landscape, climate resilience remains a growing challenge. As rising temperatures and extreme weather events arise from climate change, CDL continues to invest in solutions that enhance the durability and adaptability of its developments. Nature-based strategies, such as urban greening and biodiversity restoration, are becoming increasingly important in this effort.

The company also continues to strengthen and invest in its capabilities through digital innovation, sustainable financing, and talent development, to remain agile and responsive in a rapidly changing landscape.

A Model for Sustainable Urban Development CDL’s approach to sustainability is built on long-term foresight and investments, coupled with seamless integration to its core business operations. The company has demonstrated that sustainability can be a powerful driver of business success and environmental stewardship.

This strategy offers an ambitious blueprint for the future of real estate. By embedding sustainability into every aspect of its operations, CDL is shaping cities that are more resilient, inclusive, and sustainable for generations to come.