Capitaland Investment Increases Focus Its Scope 3 Emissions
Investment firm PAG acquires Sembcorp Industries’ stake in its Vietnam JV
CapitaLand Investment (CLI) has recently incorporated three new Scope 3 categories that are considered to be vital to its operations. These include purchased goods and operations, fuel- and energy-related activities, and upstream transportation and distribution.
After conducting a thorough review of its full inventory of Scope 3 emissions, emissions hotspots and key decarbonisation levers across its value chain, the group has expanded its capital goods category to include even more emissions.
“Tightening our focus on Scope 3 emissions is crucial as 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 to announce that our green leases with tenants in China and Singapore have increased to 57% as at the end of December 2023 from 43% a year ago. We will continue to work towards this goal globally,” says Vinamra Srivastava, CLI’s chief sustainability and sustainable investments officer.
CLI is committed to working closely with its tenants and strengthening its supply chain management through various initiatives. This includes piloting sustainable building innovations through its global CapitaLand Sustainability X Challenge (CSXC) and implementing environmental, social and governance (ESG)-related capability-building programmes for selected critical suppliers through a third-party due diligence ESG check.
“Upon completion of the programme in 2023, our supply chain vendors have achieved an improved ESG score. By focusing on sustainability through on-the-ground actions and reporting, we are fulfilling our vision of being the preferred global real asset manager creating sustainable positive impact,” Srivastava adds.
Moreover, CLI is also taking steps to reduce its Scope 1 and 2 emissions, with initiatives such as expanding its renewable energy deployment by commissioning its first captive 21-megawatt solar power plant in Tamil Nadu, India to power its assets there. In 2023, CLI and its listed REITs and business trusts secured $4.5 billion in sustainable finance.
Nestled in Tengah, Novo Place EC embraces a unique development philosophy centered around coexisting harmoniously with nature. This concept not only promotes an eco-friendly and sustainable way of living, but is also evident in the carefully crafted master plan for the area. Comprising of five distinct districts – the Plantation District, Garden District, Park District, Brickland District, and Forest Hill District – this development seamlessly blends into its natural surroundings. The thoughtful design of each district is aimed at preserving and enhancing the biodiversity of the area, allowing residents of Novo Place EC to fully immerse themselves in a close-to-nature lifestyle.
Shares in CLI closed slightly lower by 1 cent or 0.38% at $2.66 on June 4.
This story first appeared on The Edge Singapore. For more stories, .