CLI continues to intensify efforts to reduce Scope 1 and 2
emissions through on-ground actions and
innovation
SINGAPORE, June 15, 2024 /PRNewswire/ -- CapitaLand
Investment Limited (CLI) has incorporated three new Scope 3
categories deemed material to its operations – Purchased goods and
operations, Fuel- and energy-related activities, and Upstream
transportation and distribution – and expanded the scope of the
Capital goods category following the latest review of its full
inventory of Scope 3 emissions, emissions hotspots and key
decarbonisation levers across its value chain, as detailed in its
15th Global Sustainability Report. CLI also bolstered
its reporting in existing categories, such as tenant consumption,
enabling improved initiatives with tenants and the supply chains.
The widened scope reaffirms CLI's commitment to action on its
sustainability targets and a focused execution progress charted by
its 2030 Sustainability Master Plan (SMP).
Mr Vinamra Srivastava, CLI's
Chief Sustainability and Sustainable Investments Officer, said:
"Tightening our focus on Scope 3 emissions is crucial because they
account for the majority of CLI's total greenhouse gas emissions.
With tenant emissions being the largest contributor to Scope 3, we
are pleased that we have increased green leases with tenants in
China and Singapore to 57% as at end Dec 2023 from
43% a year ago, and we'll continue to do so globally. We are
stepping up collaboration with tenants and working to strengthen
our supply chain management through various initiatives such as
piloting sustainable building innovations crowdsourced from our
global CapitaLand Sustainability X Challenge (CSXC)
and deploying a series of environmental, social and governance
(ESG)-related capability-building programmes for selected critical
suppliers in a third-party due diligence ESG check we commissioned.
In 2023, upon completion of the programme, these supply chain
vendors achieved an improved ESG score. Our continuous focus
on sustainability through on-the-ground actions and reporting
addresses our vision of being the preferred global real asset
manager creating sustainable positive impact."
Intensified efforts to reduce Scope 1 and 2 emissions
In addition to expanding its Scope 3 emissions disclosures, the
report highlights its progress in reducing its Scope 1 and 2
emissions intensity and managing climate-related risks as it
strives towards its Net Zero targets. It expanded its
renewable energy deployment by commissioning its first captive
21-megawatt solar power plant in Tamil Nadu, India, to power its assets there. The
expanded use of green energy to 44 properties in Singapore, China, India,
Australia, Belgium, Germany, India, Japan,
Indonesia and the United Kingdom, as well as ten business parks
in India, also mitigated a total
of 41,000 tonnes of carbon emissions, equivalent to the annual
emissions of over 8,900 petrol-powered cars. CLI will continue to
scale up its renewable procurement efforts, further advancing its
transition to clean energy sources and reducing the carbon
footprint of its assets.
Through asset enhancement initiatives (AEIs), CLI achieved a
13.4% energy intensity reduction against 2019 despite a growing
portfolio. With 60% of buildings in its global portfolio
attaining green ratings in 2023, CLI targets to achieve 100%
certification by 2030. Furthermore, 46% of CLI's properties
were certified LEED Gold and above or equivalent.
Earlier this year, CLI also published its first Climate
Resilience Report based on the recommendations of the Task Force on
Climate-related Financial Disclosures (TCFD). The report
incorporates a climate scenario analysis of 480 properties
across 20 countries and various asset classes, emphasising CLI's
recognition and transparency regarding the urgency of climate
action.
Innovation as a key lever in the decarbonisation journey
In 2023, CLI partnered with tenants for the first time to
testbed innovations from its CSXC at their premises.
CSXC has seen more pilots focusing on reducing energy and
water consumption. Ten shortlisted innovations from CSXC 2023
are being piloted in four countries, bringing the total tally to 30
innovations across seven countries since 2021. Initiatives
such as the CSXC and the CapitaLand Innovation Fund (CIF)
demonstrate how innovation and sustainability partnerships play a
key role in CLI's decarbonisation journey.
Leadership in fund management and sustainable finance
As CLI pivots towards global real asset management, it is
committed to integrating ESG considerations into every stage of its
fund management lifecycle. Guided by the 2030 SMP, CLI
develops customised ESG strategies that ensure funds adhere to the
highest standards of responsible investing—from fund product
development to capital raising, investments, asset management and
exits. CLI conducts a comprehensive Environment, Health, and
Safety (EHS) Impact Assessment for every new investment to ensure
sufficient capital expenditure is allocated to the identified asset
to attain the desired ESG outcomes.
CLI aims to be a leader in sustainable finance, which is made
possible through valued strategic partnerships with financial
partners. In 2023, CLI and its listed real estate investment
trusts (REITs) and business trusts secured S$4.5 billion in sustainable finance, bringing
the total to S$16.1 billion since
2018. Interest savings from sustainability-linked loans were
channelled back into decarbonisation investments.
CLI's carbon mitigation efforts recognised by leading global
indices
Through strategic initiatives aimed at reducing its carbon
footprint across its operations, implementing innovative solutions,
and embracing renewable energy sources, CLI has significantly
mitigated its environmental impact while enhancing operational
efficiency. These proactive measures, alongside efforts taken
to publish robust reports detailing actions and findings, have
earned CapitaLand recognition in prestigious global sustainability
indices such as the Dow Jones Sustainability World Index for the
12th year and achieved a five-star rating from GRESB
Real Estate Assessment for eight years. Such inclusion
underscores CLI's dedication to environmental stewardship and
reinforces its position as a frontrunner in the sustainable real
asset management sector.
About CapitaLand Investment Limited
(www.capitalandinvest.com)
Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI)
is a leading global real asset manager with a strong Asia foothold. As at 31
March 2024, CLI had S$134
billion of assets under management as well as S$100 billion of funds under management (FUM)
held via six listed real estate investment trusts and business
trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real
estate asset classes cover retail, office, lodging, business parks,
industrial, logistics, self-storage and data centres.
CLI aims to scale its FUM and fee-related earnings through fund
management, lodging management and commercial management, and
maintain effective capital management. As the investment management
arm of CapitaLand Group, CLI has access to the development
capabilities of and pipeline investment opportunities from
CapitaLand's development arm.
As a responsible company, CLI places sustainability at the core
of what it does and has committed to achieve Net Zero carbon
emissions for Scope 1 and 2 by 2050. CLI contributes to the
environmental and social well-being of the communities where it
operates, as it delivers long-term economic value to its
stakeholders.
Follow @CapitaLand on social media
Facebook: @capitaland / facebook.com/capitaland
Instagram: @capitaland / instagram.com/capitaland
Twitter: @capitaLand / twitter.com/capitaland
LinkedIn: linkedin.com/company/capitaland-limited
YouTube: youtube.com/capitaland
Issued by: CapitaLand
Investment Limited (Co. Regn.: 200308451M)
Important Notice
This announcement and the information contained herein does not
constitute and is not intended to constitute an offering of any
investment product to, or solicitation of, investors in any
jurisdiction where such offering or solicitation would not be
permitted.
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