CapitaLand unveiled its 2030 Sustainability Master Plan (SMP), an environmental, social and governance (ESG) blueprint for its business, in 2020. It aims to build resilience in CapitaLand’s real estate portfolio to mitigate climate change risks and future-proof against premature obsolescence. It also directs CapitaLand to use its resources efficiently as a good corporate steward, improve its operational efficiencies, and provide a healthy and safe environment for its employees, tenants and communities to thrive. CapitaLand Investment (CLI), the real estate investment management arm of CapitaLand, has elevated its commitment to sustainability by aiming to achieve net-zero emissions by 2050. To realise this commitment, CLI aims to reduce its absolute Scope 1 and 2 greenhouse gas emissions by 46 per cent, up from 28 per cent, by 2030 from a 2019 base year. These new targets to reduce greenhouse gas emissions are validated by the Science Based Targets initiative (SBTi) to limit global warming to 1.5 degrees Celsius as per the goals of the Paris Agreement. CapitaLand is one of the few Singapore-based companies with SBTi-approved carbon targets (Scope 1 and 2) aligned to the 1.5 degrees Celsius scenario for its extensive global operations.

To accelerate the achievement of CapitaLand’s 2030 Sustainability Master Plan targets and innovation in the built environment, CapitaLand launched initiatives such as the CapitaLand Sustainability X Challenge (CSXC), opened the Smart Urban Co-Innovation Lab in 2020 and set up a S$50 million CapitaLand Innovation Fund in 2021.

Tapping global insights for innovative sustainability solutions

CSXC is the first global sustainability-focused innovation challenge in the built environment by a Singapore real estate company. Held annually since 2021, start-ups globally are invited to submit their sustainable innovations. CapitaLand has committed up to S$650,000 (US$461,000) in 2022 to pilot 10 chosen innovations at CapitaLand's diversified range of properties worldwide, allowing participants to apply their solutions in varying climatic conditions and asset types as well as demonstrate conclusively how their systems will function under real-world conditions.

Two winners were crowned amongst six finalists at the inaugural CSXC 2021 Grand Finale, where CapitaLand Investment's Group Chief Executive Officer, Mr Lee Chee Koon, announced a S$50 million CapitaLand Innovation Fund.

The inaugural Challenge attracted over 270 entries from more than 25 countries, with seven innovations being tested, while the second edition attracted over 340 entries from 50 countries, with 10 innovations under discussion.

One of the successful innovations from the inaugural Challenge was conducted at LogisTech, the first logistics building in Singapore to receive the Building Construction Authority Green Mark Platinum Super Low Energy Award. The innovation, the CONTINEWM®-patented ceramic net emitting infrared, achieved up to 51 per cent reduction in fan energy usage, a 16 per cent reduction in cooling load energy usage, and 153 kWh per day of energy savings across two air handling units. 

Collaborating with industry partners and the community

The Smart Urban Co-Innovation Lab, supported by the Infocomm Media Development Authority and Enterprise Singapore, is Southeast Asia’s first industry-for-industry, platform-agnostic, multi-disciplinary lab for smart city solutions development. The first lab was launched at the Singapore Science Park. Its purpose is to enable collaboration between users and providers of technology in a real-world setting to identify, develop and demonstrate innovative close-to-market solutions. Since its inception in October 2020, the lab has welcomed over 700 companies and onboarded more than 70 members to identify opportunities and co-create solutions for smart, sustainable cities.

Mr S Iswaran, Minister for Transport, who was then Minister for Communications and Information (centre right), and Mr Lee Chee Koon, CapitaLand Investment’s Group Chief Executive Officer (centre left), unveiling the plaque to mark the official opening of the Smart Urban Co-Innovation Lab in 2020, together with Mr Lew Chuen Hong, Infocomm Media Development Authority’s Chief Executive (far right) and Ms Eunice Koh, Enterprise Singapore’s Assistant Chief Executive Officer (far left).

On 30 October 2021, the Smart Urban Co-Innovation Lab @ East Coast launched a community initiative with eight partner companies, including Amazon Web Services, Huawei International and Rohde & Schwarz, to provide corporations and residents with the opportunity to collaborate and co-innovate solutions on community and business issues, as well as to equip students with future-ready skills.

Building a culture of innovation

Innovation can only thrive if businesses have a culture that is supportive of it. CapitaLand not only places sustainability at the core of what it does but also empowers its employees to be creative in deploying solutions that have a positive impact on the environment. In 2021, CapitaLand set up a S$50 million CapitaLand Innovation Fund to further support the test-bedding of sustainable and other high-tech innovations in the built environment over the next five years. At least half of it has been earmarked to fund staff pilots of promising sustainability solutions.

Innovation is key to CapitaLand’s business and culture as it seeks to deliver sustainable value to its stakeholders. CapitaLand continues to push the frontiers of innovation through CSXC, the Smart Urban Co-Innovation Lab and the CapitaLand Innovation Fund, creating a conducive environment for budding start-ups, sector players and CapitaLand staff on the journey towards a more sustainable future.

Posted 08 Feb 2023