Local companies among world's most sustainable
Three of corporate Singapore's most well-known firms have been named among the 100 most sustainable companies in the world.
Developer City Developments (CDL) was placed 30th, with Singtel 52nd and fellow telco StarHub 69th in the annual rankings announced at the World Economic Forum (WEF) in Davos, Switzerland, yesterday.
German conglomerate Siemens topped the list, followed by Norwegian insurer Storebrand, tech giant Cisco Systems from the United States, Denmark's Danske Bank and the Dutch ING Group.
CDL said in a statement that it came in top globally among real estate management and development companies, adding that it is also the first Singapore company to be listed in the Global 100 rankings for eight consecutive years.
CDL chief executive Grant Kelley noted that the firm has been pursuing sustainable development for over 20 years.
"In the long run, this not only enhances CDL's reputation, but also assists in risk mitigation, cost management and drives improved operational performance," he said, adding that there are "tremendous opportunities" for firms to create value through sustainability.
"With increasing interest in socially responsible investment, we believe that CDL's sustainability commitment will enable us to tap these prospects."
CDL said in the statement that it practises sustainability by designing and developing "green" buildings, managing buildings in an energy- and resource-efficient way and engaging and influencing stakeholders to support its commitment to sustainability.
The firm began sustainability reporting in 2004, before the Singapore Exchange's rules in the area were introduced last year.
The WEF ranking is compiled by Toronto-based firm Corporate Knights. Its chief executive Toby Heaps said Global 100 firms are "powerful exponents of the idea that doing better by society and the planet can be financially rewarding". "I am glad to see that companies like CDL have been consistent in their long-term commitment to sustainability best practices," he said.