CSR CDL REPORT
CSR REPORT
1. EXECUTIVE SUMMARY
Sustainability reporting has become a commonplace for businesses that want to communicate with and engage their stakeholders. It not only helps organisation to set goals and measure performance, it also helps organisation to manage change in order to make their operations more sustainable.
A “good” sustainability report delivers value, whether internal or external, to the business and its stakeholders. Too often, sustainability reports read like they were produced to meet a marketing need or to plug a gap in corporate communications. In this report, the Sustainability Reporting Guidelines published by the Global Reporting Initiatives (GRI) will be used as a benchmark to evaluate City Developments Limited (CDL) sustainability report.
2. INTRODUCTION
City Developments Limited (CDL) is an international property and hotel conglomerate and the leading real estate developer in Singapore. It operates in more than 20 countries in Asia, Europe, North America and Australasia. The CDL Group has over 350 subsidiaries and associated companies including 5 companies listed on the stock exchanges of Singapore, London, Hong Kong, Amsterdam, New Zealand and Manila. CDL has a market capitalization of US$5.8 billion and ranks just outside Singapore's top 10 listed companies. It is also the second-biggest property developer in Southeast Asia.
Since the 1990s, CDL has been integrating their CSR into their corporate vision & mission. In 2008, a companywide CSR Committee set out with a mission to become a responsible corporate citizen who believes in creating value for stakeholders, conducting sustainable business practices, caring for the community and protecting the environment. CDL envisions them to be a leader in business and a champion of
1. EXECUTIVE SUMMARY
Sustainability reporting has become a commonplace for businesses that want to communicate with and engage their stakeholders. It not only helps organisation to set goals and measure performance, it also helps organisation to manage change in order to make their operations more sustainable.
A “good” sustainability report delivers value, whether internal or external, to the business and its stakeholders. Too often, sustainability reports read like they were produced to meet a marketing need or to plug a gap in corporate communications. In this report, the Sustainability Reporting Guidelines published by the Global Reporting Initiatives (GRI) will be used as a benchmark to evaluate City Developments Limited (CDL) sustainability report.
2. INTRODUCTION
City Developments Limited (CDL) is an international property and hotel conglomerate and the leading real estate developer in Singapore. It operates in more than 20 countries in Asia, Europe, North America and Australasia. The CDL Group has over 350 subsidiaries and associated companies including 5 companies listed on the stock exchanges of Singapore, London, Hong Kong, Amsterdam, New Zealand and Manila. CDL has a market capitalization of US$5.8 billion and ranks just outside Singapore's top 10 listed companies. It is also the second-biggest property developer in Southeast Asia.
Since the 1990s, CDL has been integrating their CSR into their corporate vision & mission. In 2008, a companywide CSR Committee set out with a mission to become a responsible corporate citizen who believes in creating value for stakeholders, conducting sustainable business practices, caring for the community and protecting the environment. CDL envisions them to be a leader in business and a champion of