CapitaLand Group (CapitaLand) has retained top positions as the ‘Global, Regional and Asia Sector Leader’ in the 2021 Global Real Estate Sustainability Benchmark (GRESB) rankings for its exceptional Environment, Social and Governance (ESG) management and performance. CapitaLand retained the highest rating of 5 stars and is the only real estate company in Singapore to win ‘Global Sector Leader’ in the ‘Diversified – Listed’ category four times. It is also the first real estate company in Singapore to be consistently ranked among the top five in Asia since 2011.
CapitaLandInvestment’s(CLI)1realestateinvestmenttrusts(REITs)andbusinesstrustshavealsobeenrecognisedasindustryleadersintheirrespectivecategories.Initsfirstparticipationof GRESB, Ascott Residence Trust (ART) was named ‘Global Sector Leader – Hotel’ andranked top in the ‘Asia Pacific Hotel – Listed’ category.CapitaLand Integrated CommercialTrust (CICT) maintained the highest 5-star rating, which is at the top 20% globally in thebenchmark.CapitaLand, CICT, Ascendas Real Estate Investment Trust (Ascendas Reit),ARTand CapitaLandChina Trust(CLCT)wereawarded an‘A’forpublicdisclosure.
With CapitaLand’s ratings on GRESB 2021, it will obtain interest rate discounts from itsexisting sustainability-linked loans tied to its achievements in GRESB.CLI has just securedanother sustainability-linked loan, its first from MUFG Bank, Ltd, Singapore branch, of S$400million which is also pegged to CLI’s performance on GRESB. CLI’s India property trust,Ascendas India Trust (a-iTrust) has also secured a S$150 million sustainability-linked loan from United Overseas Bank Limited .With these two latest sustainability-linked loans,CapitaLand and its listed REITs and business trusts have secured a total of S$7.1 billion through sustainable finance to date.
Ms Lynette Leong,CLI’sChief Sustainability Officer,said:“CapitaLand’s consistent recognition by international indices such as GRESB cements CapitaLand’s position as a global sustainability leader in real estate.Sustainability is core to everything we do at CLI and we will continue to grow our business responsibly as were inforce CLI as one of the leading listed
1CapitaLand Investment, the real estate investment management business of CapitaLandGroup ,was listed on Singapore Exchange Securities Trading Limited on 20September2021.
real estate investment managers globally.The interest savings from our sustainability-linked loans is a tangiblete stament to our ESG performance and augments our Return on Sustainability metric.It also enables us to fund sustainability innovation initiatives, thereby multiplying the positive impact on the environment and communities where we operate. We will continue to work with our capital partners to roll out more sustainable financial products and services as we push the boundaries in achieving our 2030 Sustainability Master Plan’s ambitious targets.”
Mr Ruben Langbroek, Head of Asia Pacific at GRESB, said: “CapitaLand has been an early participant in the annual GRESB Assessment.We’d like to congratulate them with their‘Global Sector Leader’ recognition in this year’s benchmark. CapitaLand’s ongoing commitment to further enhance its ESG performance is also demonstrated by this latest sustainability-linked loan based on its GRESB scores.These sustainable financing instruments are benefitting real estate companies with a strong ESG performance and provide important incentives for the industry to transition to a resilient, net-zero, and circular built environment–one that aligns people,planet and profit.”
The GRESB assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments, and are aligned with international reporting frameworks,goals and emerging regulations. In 2021,more than 1,500 property companies,REITs, funds and developers participated in the real estate assessment.2
CapitaLand’s track record in sustainable finance
Since 2018, CapitaLand and its listed REITs and business trusts have partnered with 12financial institutions to secure sustainable financing instruments comprising sustainability-linkedloans,greenloans,greenbondsandperpetual securities.
This year, CICT, Ascendas Reit, CLCT and a-iTrust secured sustainable finance of about S$1.6billion, S$810million, S$150million and S$250million respectively from various banks. ART obtained a S$50million green loan from DBS Bank Ltd, making it the first hospitality trust in Singapore to secure a green loan.
In addition to GRESB,CapitaLand has received numerous other recognitions for its sustainability leadership:
- Global 100 Most Sustainable Corporations in the World Index(nine consecutive years);
- DowJonesSustainabilityWorldIndex (nineconsecutiveyears);
- DowJones Sustainability Asia Pacific Index(12 consecutive years.This makes CapitaLand the first and longest standing realestate company in Singapore to be listed on the index);
- FTSE4 GoodIndexSeries (eightconsecutive yearssince2014);
For more informationon GRESB, pleasesee Annex.
- MSCIESG LeadersIndex(CLIislisted ontheindexasofOctober2021. CapitaLand was listed on the Index for eight consecutive years upto 2021).
CapitaLand Group (CapitaLand) is one of Asia’s largest diversified realestate groups.Headquartered in Singapore, CapitaLand’s portfolio spans across diversified real estate classes which include integrated developments, retail, office, lodging, residential and new economy sectors such as business parks, industrial, logistics and data centres. With a presence across more than 250 cities in over 30 countries, the Group focuses on Singapore and China as its core markets,while it continues to expand in markets such as India,Vietnam,Australia,Europe and the USA.
Within its ecosystem, CapitaLand has developed an integrated suite of investment management and operating capabilities that supports its realestate businesses and platforms in building core competencies across the real estate value chain.With this full stack of capabilities,CapitaLand can optimise the strategies of its listed real estate investment management business CapitaLand Investment, and its privately held property development arm CapitaLand Development;to drive competitive advantage for its businesses.
CapitaLand places sustainability at the core of what it does.As a responsible real estate company,CapitaLand contributes to the environmental and social well-being of the communities where it operates,as it delivers long-term economic value to its stakeholders.
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