{"id":3058,"date":"2018-11-25T15:42:43","date_gmt":"2018-11-25T11:42:43","guid":{"rendered":"https:\/\/sustainablesquare.com\/?p=3058"},"modified":"2022-02-10T11:46:15","modified_gmt":"2022-02-10T11:46:15","slug":"real-estate-singapore-investment-opportunities-sdg-13-climate-action","status":"publish","type":"post","link":"https:\/\/sustainablesquare.com\/wp.old\/real-estate-singapore-investment-opportunities-sdg-13-climate-action\/","title":{"rendered":"HOW CAN REAL ESTATE COMPANIES IN SINGAPORE EXPLORE INVESTMENT OPPORTUNITIES AROUND THE SDG 13: CLIMATE ACTION?"},"content":{"rendered":"
Singapore is one of the few countries in Asia that is taking a straightforward and progressive path to achieve the 17 United Nations Sustainable Development Goals (SDGs). The city-state has already achieved its targets on four out of the 17 SDGs (1, 7, 8 and 9), remarkable progress for Southeast Asia. However, high C02 emissions per capita (ranked 22nd out of 157 countries) lowered its progress in the SDG 13: Climate Action, according to the <\/span>SDGs Index and Dashboard Report in 2017<\/span><\/a><\/span>.<\/span><\/p>\n As a small, low-lying island city-state, climate change poses a real challenge to Singapore. The government is committed to reducing its Emissions Intensity by 36% from 2005 levels by 2030. Many initiatives to expedite the process towards the 2030 target have been activated, such as the <\/span>Climate Action Plan (2016<\/span><\/a><\/span>)<\/span>, while some will be implemented in the future, like the <\/span>Carbon Tax<\/span><\/a><\/span> policy, for example. Yet, a major role has to be played by the construction and real estate industries, which are responsible for <\/span>40%<\/span><\/a><\/span> of global emissions.<\/span><\/p>\n To date, the real estate industry accounts for 23% (7 companies) of the top 30 largest listed companies in the Singapore Exchange. This article analyses their environmental performance and provides recommendations on the investment opportunities they can explore to advance their progress in the SDG 13.<\/span><\/p>\n Strong Environmental Stewardship<\/b><\/p>\n It is noticeable that these 7 real estate companies have shown high transparency while disclosing their sustainability performance. Regulated by sound and strict policies, they invested in setting up environmental management systems including policies, guidelines, programs and ambitious targets.<\/span><\/p>\n Environmental Management System<\/span><\/p>\n – <\/span>Internal standards: <\/b>Sustainable Building Guidelines (Capitaland)<\/span><\/p>\n – <\/span>National standards<\/b>: BCA Green Mark (Sing gov), Carbon Less and Indoor Air Quality Certification (HK gov)<\/span><\/p>\n – <\/span>International standards:<\/b> ISO14001 Environmental Management System<\/span><\/p>\n All of the analysed companies committed to a reduction plan of emissions\/water\/energy intensity by 2020 or\/and 2030.<\/p>\n – Environmental, social and governance (ESG)-linked remuneration: <\/span>Incorporate ESG indicators into in the individual goals setting of all employees, including senior management.<\/span><\/p>\n – Empowering tenants: Use technology to help tenants track and manage their energy usage.<\/span><\/p>\n – Waste management: Making recycling becomes a focal point in the sustainability strategy.<\/span><\/p>\n The most common environmental practices observed among the analysed companies is to comply with sustainable buildings guidelines in the countries where they operate. Some have started to put a focus on engaging with tenants, managing waste and incorporating ESG indicators into employees\u2019 remuneration.<\/span><\/p>\n Accelerating Progress In The SDG 13<\/b><\/p>\n Addressing the SDG 13 doesn\u2019t only help Singaporean real estate companies comply with the regulations (Carbon Tax 2019) and save on costs (through the efficient use of resources), but also ensures a sustainable future for the nation and the country. <\/span>Sustainable enterprises cannot operate in an unsustainable society<\/span><\/a><\/span>. Singapore is not immune to the impact of climate change. Rising sea levels; increasing water prices due to scarcity and worries over food security can threaten the future operations of these businesses.<\/span><\/p>\n expected for companies operating in this field to go beyond compliance and proactively invest and innovate to tackle the issues around the SDG 13. The following are some practices they might take into consideration:<\/p>\nHighlighted Programs<\/strong><\/h5>\n
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