CapitaLand Recognised as Corporate Sustainability Leader by International Benchmarks
This is a news release from CapitaLand Limited.
Singapore, 9 April 2009 – CapitaLand has been recognised as a corporate sustainability leader by two international sustainability benchmarks. The Group is a component of the newly-launched Dow Jones Sustainability Asia Pacific Index, which comprises Asia Pacific’s leading companies in terms of sustainability. CapitaLand is the only Singapore real estate company in the index. The Dow Jones Sustainability Asia Pacific Index captures the top 20% of the largest 600 companies in Asia Pacific based on long-term economic, environmental and social criteria.
Separately, the Group has also been included in Sustainability Yearbook 2009, one of the world’s most comprehensive publications on corporate sustainability. CapitaLand was identified as a Sustainability Leader in the real estate sector and is the only Singapore company in this year’s ranking.
Mr Liew Mun Leong, President and CEO of CapitaLand Group, said: “CapitaLand’s inclusion in both the Dow Jones Sustainability Asia Pacific Index and the Sustainability Yearbook 2009 marks a significant milestone in the Group’s corporate sustainability efforts. We are honoured that our corporate sustainability initiatives have been recognised by these two international benchmarks, and to be the only Singapore real estate company to receive these accolades. Despite the current global financial downturn, CapitaLand remains committed to a maintaining a high degree of corporate sustainability while extending our leadership position as one of the largest real estate companies in Asia.”
CapitaLand’s Corporate Sustainability Initiatives
CapitaLand has always been mindful of conserving the natural environment and adopts a holistic approach to managing its environmental footprint. For example, an Environment Management System (EMS) ensures that environmental practices are implemented consistently across the Group for the development and management of properties. A key pillar of this system is the CapitaLand Green Building Guidelines, which advocate green best practices and apply to all of the Group’s major building development and management projects. In Singapore, new projects aim to achieve a Green Mark Gold rating from the Building and Construction Authority, one level above the legal requirement. For overseas projects, the target is achieving a local green building rating recognised by the World Green Building Council. The Group also carries out environmental impact assessments for all new projects to ensure that environmental risks are assessed, managed and controlled.
In 2008, CapitaLand won the prestigious Singapore Environmental Achievement Award 2007/08 at the Singapore Green Summit, and was the only Top Achiever of the award that year. CapitaLand will continue to promote environmentally-sustainable practices throughout the Group and aim to be an industry leader in terms of green buildings and environmental awareness.
Human Capital Development/ Retention
CapitaLand’s credo is “Building people to build for people”. It adopts an integrated human capital strategy to recruit, develop and motivate employees. CapitaLand identifies talents both internally and externally to build its talent pipeline and bench strength for succession planning. CapitaLand leverages on in-house training institutes – CapitaLand Institute of Management and Business (CLIMB) and Ascott Centre for Excellence (ACE) – to train and develop employees.
In 2006, CapitaLand started the ICE (Innovation, Creativity, Entrepreneurship) programme to tap on the innovative spirit, creative energies and enterprising mindsets of all employees. Employees submit ideas to ICE Berg, a platform that rewards staff when they contribute their ideas. To date, 550 employees from Australia, China, Japan, Malaysia, Philippines, Singapore and Thailand have shared ideas at 17 ICE camps in seven cities.
Corporate Citizenship/ Philanthropy
CapitaLand is also committed to be a socially-responsible corporate citizen. Through its philanthropic arm CapitaLand Hope Foundation, CapitaLand supports programmes dedicated to the education, healthcare and shelter needs of underprivileged children. The foundation leverages on CapitaLand’s extensive geographical footprint by identifying and supporting programmes in overseas communities in which CapitaLand operates. In 2008, CapitaLand won the coveted “Outstanding Corporate Citizen of China” award in recognition of its corporate social responsibility efforts in China.
Corporate Governance And Risk Management
CapitaLand is committed to observing high standards of corporate conduct. The Group remains focused on practising good corporate governance while achieving operational excellence and delivering its long-term strategic objectives. CapitaLand’s application of good governance principles is underpinned by sound systems of internal controls and accountability, which help to promote and drive long-term sustainable growth and shareholder value.
For example, CapitaLand’s Board currently comprises 10 directors, with nine nonexecutive directors independent of management and the Group’s substantial shareholder. In addition, the roles and responsibilities of the Chairman and the President & Chief Executive Officer are separate and held by different individuals. The Board has seven Board committees to provide independent supervision and assist on corporate governance matters.
CapitaLand maintains a prudent risk profile by counterchecking business initiatives with an independent risk management team, working within unique in-house risk management models, and by investing in a mix of stable assets and development properties.
In 2008, the Group’s high standards of corporate conduct were recognised with a number of prominent corporate governance awards. CapitaLand won the Most Transparent Company (Property) award from the Securities Investors Association (Singapore) (SIAS) for the eighth consecutive year and clinched a Merit for SIAS’ overall Singapore Corporate Governance award. CapitaLand was also named “Best Company in Singapore” by The Asset magazine in its Corporate Governance Awards 2008.
About the Dow Jones Sustainability Asia Pacific Index
The Dow Jones Sustainability Asia Pacific Index captures the top 20% of the largest 600 companies in Asia Pacific based on long-term economic, environmental and social criteria. Index components are selected according to an assessment which accounts for general as well as industry-specific sustainability criteria and covers a variety of issues such as corporate governance, risk management, branding, climate change mitigation, supply chain standards and human capital.
The index currently comprises 122 sustainability leaders – three from Singapore (namely CapitaLand, Singapore Airlines and Singapore Exchange), 77 from Japan, 30 from Australia, 7 from South Korea, three from Hong Kong, and two from Taiwan.
For more information on the Dow Jones Sustainability Asia Pacific Index, please visit http://www.sustainability-indexes.com.
About Sustainability Yearbook 2009
The Sustainability Yearbook is one of the world’s most comprehensive publications on corporate sustainability and the related challenges and opportunities for companies. Published by SAM Sustainable Asset Management and PricewaterhouseCoopers, the Sustainability Yearbook assesses companies according to their economic, environmental and social success factors. Every year, the 2,500 largest companies in the world (as reflected in the Dow Jones Wilshire Global Index) are invited to participate in SAM’s Corporate Sustainability Assessment. Only the top scoring 15% of companies in each of the 57 sectors assessed are eligible for inclusion in the Sustainability Yearbook.
For more information on the Sustainability Yearbook 2009, please visit www.samgroup.com/yearbook.
About CapitaLand Limited
CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, the multinational company’s core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific, Europe and the Gulf Cooperation Council (GCC) countries.
The company’s real estate and hospitality portfolio spans about 120 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.
The listed subsidiaries and associates of CapitaLand include Australand, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust and CapitaRetail China Trust.