City Developments (CDL), has been awarded the 2021 Terra Carta Seal by Prince of Wales via his Sustainable Markets Initiative on Nov 3.
CDL was the only Singapore-based company among 45 global companies to receive the seal. This seal recognizes global companies that are innovative and demonstrate commitment towards building truly sustainable markets.
“The Terra Carta seal recognizes organisations that have taken a serious commitment towards a more sustainable future and put nature, people, and the environment at the core of their economy. The Prince of Wales released a press release saying that all people need to make positive changes in order to protect the planet for their children and grandchildren.
Sherman Kwek is the CEO of CDL Group and says that the company is honored to be given the seal by the prince. We share the same commitment to connect People with the Planet by recognising the intrinsic value and promoting it. He says that in this decade of urgent action we will continue to push for our ESG integration efforts to increase the value and resilience our business.”
CDL, a real estate developer in Singapore, was the first to sign the World Green Building Council (WorldGBC), Net Zero Carbon Buildings Commitment. This commitment required CDL to reduce its operational carbon emissions by zero by 2030.
The company was also recognized as Global Sector Leader, Overall Regional Sector Leader, and Global Sector Leader in the Global Real Estate Sustainability Benchmark 2021 Diversified — Office/Retail 2. category. CDL has maintained its GRESB 5-Star rating, which recognizes entities that are in the top 20% of this benchmark.