Real estate giants CDL & Frasers Property aim for net-zero carbon emissions by 2030 & 2050 respectively

Building green.

Sumita Thiagarajan | February 04, 2021, 05:36 PM

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Real estate conglomerate City Developments Limited (CDL) was the first in Singapore and Southeast Asia to sign the WorldGBC’s Net Zero Carbon Buildings Commitment on Wednesday (Feb. 3).

To reach net-zero emissions, this would require the real estate conglomerates to ensure that any greenhouse gas emissions that they produced are balanced by removing greenhouses gases from the atmosphere.

This can be achieved by either reducing emissions and/or via restoring forests or capturing carbon from the atmosphere.

All buildings under CDL to be net-zero carbon by 2030

CDL has committed to achieving net-zero carbon in operation for all new and existing wholly-owned assets and developments under its direct operational and management control by 2030.

CDL defines a net-zero carbon building as:

"[...] a highly energy-efficient building that is powered from on-site and/or off-site renewable energy sources and offsets."

The conglomerate will also disclose, reduce and verify operating emissions of its managed buildings, including its corporate office in Singapore.

Sherman Kwek, CDL Group Chief Executive Officer, 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. Our pledge to the WorldGBC’s Net Zero Carbon Buildings Commitment marks a key milestone in our sustainability journey as we take affirmative action to support the global agenda towards net zero by 2050. Taking this bold step forward reinforces our climate mitigation and adaptation efforts to build a more sustainable future in Singapore and abroad.”

How CDL aims to reach this target by 2030

The company has also mapped out pathways to achieve net-zero carbon in operation by 2030 through:

  • Phasing out diesel across all operations.
  • Achieving 100 per cent renewable energy.
  • Developing a low-carbon investment roadmap.
  • Leveraging smart technologies and emerging innovations to maximise buildings’ energy performance.
  • Strengthening supply chain engagement to lower the embodied carbon of its developments.
  • Educating and influencing building users to drive change in mindset and action.

This move towards green buildings is not new for CDL as it has been the most-awarded Building and Construction Authority (BCA) Green Mark Platinum developer and residential developer in the private sector since 2005.

To date, it has amassed a portfolio of 110 Green Mark certified developments and office interiors by BCA.

A net-zero carbon corporation by 2050: Frasers Property

Just last month, Frasers Property also announced its commitment to be a net-zero carbon corporation by 2050.

Frasers Property was the first Singapore-listed real estate company to set a net-zero carbon target.

The multinational company will be laying out roadmaps to achieve net-zero carbon through green-certifying 80 per cent of its owned and managed assets by 2024.

Panote Sirivadhanabhakdi, the Group Chief Executive Officer of Frasers Property Limited, said:

"Sustainability is one of our core capabilities and we are targeting carbon neutrality across our properties by 2050, which is part of five sustainability goals driving our Group-wide businesses. We have further mapped out a sustainability roadmap to incorporate environmentally and socially friendly practices throughout the entire value chain – from investment to design, development and operations – with a focus on carbon reduction, energy efficiency and innovative solutions."

Other sustainability goals

In Singapore, buildings under the company will be in line with various certification schemes such as BCA's Green Mark certification.

The company said that green buildings are energy-, water-, and waste-efficient and help to optimise the use of resources.

Frasers Property will also be training all its employees on sustainability by the end of this year, through campaigns and training programmes.

It will further extend the training to its supply chain and other stakeholders after this year.

In Singapore, 35 developments under Frasers Property have BCA’s Green Mark certifications, as of 2020.

Top images via CDL Sustainability/FB and Frasers Property