INTERVIEW
CapitaLand pushes for global drive for sustainability Devising a new metric to measure sustainability outcomes.
I
n an exclusive interview with Real Estate Asia, CapitaLand Group’s Chief Sustainability Officer Lynette Leong who is responsible for elevating the company’s sustainability strategy and policies, discussed CapitaLand’s 2030 Sustainability Master Plan, its sustainability initiatives, and how the company is teaming up with various agencies in Singapore to drive long-term changes. From sustainability innovations, devising a new “Return on Sustainability” metric, to the introduction of green leases at its developments, one of Asia’s largest diversified real estate groups CapitaLand is pushing ahead with its ambitious 2030 Sustainability Master Plan. Globally, CapitaLand owns and operates a wide array of assets such as offices, retail malls, business parks, logistics, data centres, integrated developments, and lodging and residential spaces. Leong said this brings about a challenge as to how the company can fully execute its sustainability efforts across all areas. For this, CapitaLand has crafted a Sustainability Master Plan for the next 10 years. The company is hopeful that it will elevate its sustainability efforts in the over 30 countries where they are present. “We have a huge global footprint. Our footprint cuts across more than 230 cities in over 30 countries. And at the same time, we have a diverse portfolio of different asset classes. With this complexity in our business model and each different asset class having different specifications, it makes sustainability a lot more challenging to execute,” Leong said. “Which is why CapitaLand’s Sustainability Master Plan is supposed to be more effective in doing that. We set ourselves ambitious goals for the next 10 years. With this complexity, it’s necessary to continually innovate and bring new ideas into the way we run operations,” she added. CapitaLand Sustainability X Challenge In its efforts to explore more ways to apply sustainable practices to its global portfolio across different types of assets, the group launched the CapitaLand Sustainability X Challenge to crowdsource globally from public innovators. “This is the first time that any Singapore real estate company is crowdsourcing sustainable solutions globally for the built environment. In this challenge, we are tackling the challenges that our properties face in energy, water and waste management, as well as the improvement of the indoor air quality of our buildings in order to safeguard against health and safety issues, especially with COVID-19,” Leong said. 18
REAL ESTATE ASIA | Q1 2021
CapitaLand Group’s Chief Sustainability Officer Lynette Leong
CapitaLand has a huge global footprint and a diverse portfolio of different asset classes. With this complexity in its business model, it makes sustainability a lot more challenging to execute
“One of the objectives of the CapitaLand Sustainability X Challenge is also to bring participating innovators to the next level,” she added. Leong said finalists in the CapitaLand Sustainability X Challenge may have a chance to pilot their solutions at CapitaLand’s properties worldwide. Winners will also receive S$50,000 in funding. They may also be brought to the Smart Urban Co-Innovation Lab, in Singapore Science Park, where they will be able to collaborate with partners to enhance innovative solutions and technology. “We have also launched a Smart Urban Co-Innovation Lab at the Singapore Science Park to catalyse development and deployment of smart city solutions. Together with the Infocomm Media Development Authority as well as the Enterprise Singapore, this private-public partnership aims to galvanise and encourage the built industry to be more innovative,” she added. CapitaLand has received more than 270 entries from over 25 different countries in its inaugural challenge. The challenge finale is set to be held in June this year. CapitaLand’s Green Lease Programme According to Leong, CapitaLand’s retail lessors in its integrated development, Funan in Singapore have agreed to be part of its green lease programme. These leases guide
