Singapore’s CapitaLand Investment targets net zero emissions by 2050

It has upped its target to reduce its Scope 1 and 2 greenhouse gas emissions from 28% to 46% by 2030

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Singapore’s CapitaLand Investment Limited (CLI) has announced its commitment to achieve net zero emissions by 2050.

It has upped its target to reduce its Scope 1 and 2 greenhouse gas emissions from 28% to 46% by 2030, from a 2019 base year – validated by the Science-based Targets initiative.

The company intends to meet its goals through various measures, including reducing energy use and improving energy efficiency through innovative building designs and engineering solutions.

That would include optimising and upgrading key building systems to lower onsite power consumption.

CLI also plans to boost its deployment and use of renewable energy onsite where feasible, purchase green power in markets where legislation allows for it and use renewable energy certificates “only as a last resort”.

Mr Lee Chee Koon, Group Chief Executive Officer, CLI said: “Sustainability is at the core of everything we do and science-based climate action is imperative. We are cognisant of our responsibility to not only contribute to Singapore’s net zero carbon goals but also transition to a low carbon business in the communities we operate in across the world.

“Achieving our new ambition to attain net zero by 2050 requires a myriad of initiatives and we will continue to regularly report our sustainability performance and impact. CapitaLand’s sustainability journey started over 20 years ago and today we are well-recognised as a global sustainability leader in the real estate industry. We appreciate the trust and support from our stakeholders as we continue to do good and do right, as we do well.”