EXECUTIVE CHAIRMAN'S STATEMENT
A key driver of our resilience and competitive edge has been our sustainability leadership for over three decades, which has added tangible value to our reputation and portfolio
Dear Stakeholders,
2025 was a challenging year for the planet, people and economies.
The global environment in which we operate is becoming increasingly complex. Environmental pressures are intensifying with extreme weather conditions, escalating biodiversity loss and ongoing degradation of nature. Societies and economies are also grappling with heightened uncertainties and shifting geopolitical and economic dynamics. These unprecedented conditions tested our Group’s resilience and adaptability as we navigated challenges and opportunities across geographies and asset classes, while remaining committed to responsible stewardship and sustainable value creation.
For businesses, climate change presents significant, growing and multifaceted operational risks that must be actively managed. Hence, the integration of sustainability remains a key part of CDL’s strategy. CDL remains committed to long-term stewardship and preserving shareholder value in a rapidly evolving global economic landscape.
THREE DECADES OF SUSTAINABILITY LEADERSHIP
A key driver of our resilience and competitive edge has been our sustainability leadership for over three decades, which has added tangible value to our reputation and portfolio. Since 1995, CDL has integrated environmental, social and governance (ESG) considerations into our business. This long-term vision has future-proofed our assets against regulatory shifts, while enhancing our brand equity, resilience and operational efficiency.
Sustainability is a journey of continual improvement. We regularly enhance our frameworks and strengthen governance to ensure that CDL moves forward with unity, clarity, stability, and purpose.
As a pioneer in green building and sustainability, CDL has built a “sustainability premium” that resonates with institutional capital, business partners and customers who share our values. This reinforces the alignment between responsible environmental stewardship and long-term value creation.
STRATEGIC MITIGATION AND ADAPTATION TO TACKLE LONG-TERM CLIMATE RISKS
As highlighted in the World Economic Forum’s Global Risks Report 2026, global leaders and risk experts anticipate turbulence ahead, with geoeconomic confrontation and state-based armed conflict as the immediate top global risks this year, followed by extreme weather events. Over a 10-year outlook, environmental risks such as extreme weather events, biodiversity loss and ecosystem collapse, critical changes to Earth systems, and natural resource shortages and pollution, account for half of the top 10 threats.
We recognise that the current climate emergency will continue to threaten the planet, people and economies. To be future-ready, our long-standing sustainability strategy, disciplined operations and decades of preparation, have placed us in a position of strength, allowing us to adapt both strategically and operationally. This foresight has also enabled us to capture new growth opportunities, such as the rising demand for low-carbon workspaces, climateresilient developments and nature-based solutions.
LEVERAGE SUSTAINABILITY LEADERSHIP TO MOBILISE CAPITAL
Since issuing the first green bond by a Singapore company in 2017, CDL has actively pursued sustainable finance to complement the Group’s financial strategy, accelerating investment in and application of innovative green solutions. To date, we have secured around S$11 billion in sustainable finance and will continue to mobilise capital for climate action.
Sustainability reporting has become mandatory for companies listed on major stock exchanges. In August 2025, the Singapore Exchange Regulation (SGX RegCo) reinforced requirements for the Straits Times Index (STI) constituents, which includes CDL, to continue leading efforts in implementing the International Sustainability Standards Board (ISSB)- based climate-related disclosures from FY2025.
In CDL’s 19th Integrated Sustainability Report, we are proud to have taken steps to fully align our climaterelated disclosures with the mandatory requirements, including the conclusion of our 4th climate change scenario study with updated short-, mid- and long-term views of CDL’s climate-related risks and opportunities.
Our strong track record in sustainability reporting has helped us maintain top rankings on leading global ESG ratings. These rankings have, in turn, enabled CDL to secure green financing on favourable terms, allowing us to advance our transformation into a netzero enterprise while delivering superior risk-adjusted returns to our shareholders. Through a balanced approach of growth, innovation and strategic divestment, the Board is confident that CDL is strategically and operationally positioned to thrive as a sustainable global real estate leader.
UNITED IN ACTION TOWARDS A FUTURE-READY BUSINESS MODEL
On behalf of the CDL Board, I extend my sincere gratitude to our stakeholders – investors, financiers, customers, partners and communities – for your unwavering trust and support in our sustainability journey. Your commitment enables us to innovate and lead. To our management and employees, thank you for your dedication and passion for sustainability.
With collective action and ambition, we can turn risks into opportunities and build a future where our business thrives in harmony with nature.
Let us continue to unite in purpose and action for the planet, for people and for business.
Kwek Leng Beng
Executive Chairman