Building a Greener Tomorrow: CDL’s 3-Decade Journey in Sustainable Urban Development

A Legacy of Responsibility

City Developments Limited (CDL) has long been recognised as a pioneer in sustainable development. Since 1995, the company has stood guided by its forward-looking ethos, “Conserving as We Construct.” This belief has shaped CDL’s unwavering commitment to balancing business growth with environmental and social responsibility. At the core of CDL’s sustainability strategy lies a desire to drive positive change through deep collaboration across the public, private, and people sectors. This approach is not just about reducing environmental impact – it is about redefining business success in a world increasingly shaped by climate realities and societal expectations.

By embracing the triple bottom line of people, planet, and profit, CDL ensures that it contributes meaningfully to both environmental stewardship and social progress, while remaining economically viable. Under its GET (Growth, Enhancement, Transformation) strategy, established in 2008, CDL integrates sustainability across its business—from building development pipelines to asset enhancement initiatives, and strategic investments that support low-carbon and nature positive projects.

Integrating Sustainability Strategically and Operationally

For three decades, CDL’s deliverables have reflected its firm belief that the success of businesses is beyond short-term profits. Strong governance is crucial to achieving successful integration of sustainability into its business strategy. To reinforce sustainability governance, CDL established a CSR-Corporate Governance Committee in 2012, now renamed as the Board Sustainability Committee, with CDL’s Chief Sustainability Officer reporting directly to it. This structure ensures strong top-down leadership and oversight of company-wide implementation, embedding sustainability into core decision-making, corporate strategy and operations.

For greater accountability, ExCo members’ remuneration is also linked to ESG KPIs – 30% of ExCo members’ remuneration is contingent on hitting the Group’s ESG targets. These KPIs cascade down to Heads of Departments, and every level in the organisation both strategically and operationally.

Measuring Progress through Target-Setting and Metrics

What gets measured gets managed. In 2017, CDL established the Future Value 2030 Sustainability Blueprint sets goals for our integrated sustainability strategy towards 2030 — a milestone year for UN SDGs and the net-zero climate agenda. The Blueprint sets clear targets to drive positive outcomes across E, S and G. By tracking its sustainability targets through robust internal monitoring systems and external assurance, using global standards like GRI, SASB, and ISSB. By consistently measuring and disclosing progress, CDL enhances transparency and credibility. This is key to building investor trust, managing long-term risks, and staying competitive in a climate-conscious market. Staying ahead of evolving regulations and ESG standards required CDL to remain agile and committed to continuous improvement.. In 2023, CDL established a two-pillar ESG Disclosure and Reporting Framework, capturing value and impact. The framework is a unique blended framework embracing the 15 UN SDGs and 10 key reporting frameworks and standards, reflecting CDL’s commitment to robust, transparent, and holistic sustainability performance.

Mobilising Sustainable Finance for Climate Action

CDL recognises sustainable finance as a key driver of climate action, having secured over S$9 billion in green and sustainability-linked financing since 2017. This includes green loans, a green bond, a green revolving credit facility, and various sustainability-linked loans.

In June 2024, CDL achieved a milestone with a S$400 million sustainability-linked loan from DBS Bank—the first of its kind to support nature conservation and sustainable development in Singapore, guided by CDL’s adoption of the TNFD Recommendations. Additionally, CDL met all Sustainability Performance Targets under its OCBC 1.5°C loan, secured in December 2023, earning the maximum interest rate discount.

Innovation for Greener, Cooler Urban Living

CDL continues to push the boundaries of sustainable development by integrating cutting-edge green building technologies and decarbonisation solutions across its projects.

At Copen Grand, CDL’s Executive Condominium project, a carbon sequestration and activation system was deployed for the clubhouse structures, using ready-mixed concrete with up to 80% cement replacement. This innovative mix captures carbon dioxide to enhance the concrete’s performance while reducing emissions.

To cut construction-related carbon emissions, CDL replaced diesel generators with energy storage systems at its Irwell Hill Residences site in 2022, achieving up to 80% emissions reduction. This solution has since been adopted at five more residential developments. Operational efficiency remains a key focus. At Republic Plaza, a smart lighting system was installed to reduce energy use, while at City House, CDL piloted a predictive machine-learning model to optimise the performance of chiller systems and air handling units (AHUs). The initiative has delivered a 12% reduction in air conditioning and mechanical ventilation (ACMV) energy use. A separate trial using low-pressure drop filters on three AHUs further improved air filtration efficiency and cut energy consumption by 15%.

CDL’s journey in sustainability has not been without challenges. One of the most significant hurdles was the high upfront cost of incorporating green technologies and sustainable materials. CDL tackled this by taking a long-term view of investment, recognising the eventual cost savings through energy and water efficiency. From 2012-2024, the Company over S$44 million was saved from energy-efficient retrofitting and initiatives across all its commercial buildings. 129 of its developments and office interiors have also attained BCA Green Mark certifications. This results in long term benefits such as lower operating costs and improved occupant health and productivity.

Together, these innovations reflect CDL’s commitment to building a greener, cooler, and more resilient urban future.

Driving Impact through a Triple Bottom Line Approach: People, Planet, Profit

At the core of CDL’s business philosophy lies a steadfast commitment to the triple bottom line – People, Planet, and Profit – ensuring that sustainability is not a parallel pursuit but a fundamental driver of long-term value. By turning vision into action, CDL demonstrates how businesses can achieve lasting impact through a balanced, purpose-driven strategy.

Creating meaningful environmental impact lies at the heart of CDL’s strategy—not just through disclosure and reporting, but through concrete initiatives that inspire change. One of the most prominent examples is the Singapore Sustainability Academy (SSA), a landmark zero-energy facility launched in 2017. Developed in partnership with six government agencies and 15 founding partners from industry and civil society, the SSA serves as a dynamic hub for advocacy, training, and stakeholder engagement. It stands as a physical embodiment of CDL’s commitment to long-term climate action and capacity-building.

In 2024, CDL expanded this effort with the SSA Annex, a net-zero facility that now houses the UN Global Compact Network Singapore (GCNS) as its anchor NGO partner. These community platforms are designed to fast-track climate action and progress on the UN Sustainable Development Goals (SDGs), fostering a more climate-resilient ecosystem of businesses and stakeholders. Todate, some 44,000 have visited SSA to attend some 1,400 thought leadership events, sustainability-related training courses and networking events.

Opened in March 2025, the zero-energy CDL EcoTrain engages children as young as four in environmental education. Complementing this is the CDL MicroForest, also launched in 2025, which serves as a living lab to demonstrate the cooling potential of urban greening in dense city centres – an innovative way to tackle urban heat island effects and enhance native biodiversity in urban spaces.

Another pioneering community education platform CDL has built is the CDL Green Gallery at the Singapore Botanic Gardens. It further exemplifies CDL’s dedication to creating inclusive, climate-forward infrastructure that benefits both people and the planet. Since its opening in 2013, some 410,000 visitors from Singapore and abroad visited the Gallery and learnt more about Nature and climate related subjects featured in 22 exhibitions.

Through these community outreach and advocacy efforts, CDL not only drives environmental and social progress but also reinforces the business case for sustainability – proving that long-term profitability can and must go hand in hand with positive impact for people and the planet.

Future-Ready and Forward-Thinking

Looking ahead, CDL is focused on advancing its decarbonisation roadmap, integrating nature and biodiversity into its developments, and deepening stakeholder engagement to drive a low-carbon, nature-positive, and socially inclusive economy. These priorities are not only aligned with global climate goals but also support CDL’s business vision of resilience, innovation, and growth.

By unlocking green financing, meeting evolving regulatory and investor expectations, and embracing new models of sustainable urban living, CDL is positioning itself as a future-ready leader in the built environment – ensuring prosperity for both people and planet in the decades to come.