Jessica Cheam, Straits Times 16 May 08;
ASIAN firms and investors are taking an increasing interest in corporate social responsibility (CSR), a top regional banker said yesterday.
Practices by companies that reflect these concerns present opportunities for financial investments, said Merrill Lynch's Pacific Rim president, Mr Jason Brand.
For instance, as climate change awareness grows, solutions are needed for a whole host of social and environmental problems, he said. This is where businesses in Asia can get involved and display leadership, he said on day two of the bank's four-day Asia Rising Stars conference.
He singled out local property developer City Developments (CDL) as a firm whose corporate and social responsibility practices have helped it build a green reputation and a stronger brand.
Yesterday, at the conference, CDL launched its inaugural Social and Environmental Report, which documents the company's social and environmental impact, and includes a disclosure of its carbon dioxide emissions. This is the first local environmental report to be checked by the Global Reporting Initiative, a global sustainability reporting standard backed by the United Nations Environment Programme.
With investors increasingly demanding such information from businesses, firms that comply get ahead of the game, said the Singapore Environment Council's executive director, Mr Howard Shaw. 'Carbon disclosure will be an eventuality for all firms in future,' he noted.
Also speaking to the event's 500-strong audience via satellite was former US vice-president Al Gore, who spoke of balancing the need for developing nations to lift themselves out of poverty and the need to achieve this growth without polluting the environment.
CapitaLand launches programme to encourage adoption of green lifestyle
Channel NewsAsia 16 May 08;
SINGAPORE: CapitaLand has launched a new programme to encourage more people to adopt a green lifestyle.
Called "Building a Greener Future", the programme features a range of environmental-friendly initiatives.
For a start, 100,000 re-usable shopping bags will be given out to shoppers through tenants at the 11 CapitaLand Malls.
The bags come with a loyalty programme that rewards shoppers for using the bags, instead of plastic bags.
CapitaLand has also arranged for 168 recycling bins for paper, metal and plastic materials in 20 malls, offices and Ascott serviced residences. - CNA/de
Bags and bins as CapitaLand goes green
It will offer re-usable shopping bags in its malls, recycling bins at all its properties
Nicholas Fang, Straits Times 16 May 08;
PROPERTY giant CapitaLand has launched a new campaign to encourage users of its malls, offices and serviced apartments here to adopt a green lifestyle.
It is starting the initiative with 100,000 re-usable shopping bags that come with a novel incentive programme.
CapitaLand president and chief executive officer Liew Mun Leong said that, while the idea of re-usable shopping bags is not new, the company has added a new twist.
'It will have a mini loyalty programme to further influence our shoppers to adopt a greener way of shopping.'
Those who pick up one of the bags - to be given out at CapitaLand malls - will be able to collect stamps when they use the bags. Three stamps will entitle them to a limited edition umbrella.
CapitaLand's 'Building a Greener Future' programme kicked off yesterday, with a ceremony at the Raffles City shopping centre officiated by Dr Yaacob Ibrahim, Minister for the Environment and Water Resources.
The programme will comprise a series of further initiatives over the next few years.
Mr Liew said that, from today, 168 customised recycling bins will also be placed at the company's 22 malls, offices and Ascott serviced residences.
'We hope this will encourage the recycling of paper, metal and plastic by making it more convenient for our shoppers, tenants and residents to do so at our CapitaLand properties.'
An estimated 600,000 shoppers pass through the company's 11 malls every day, or some 18 million each month.
CapitaLand vice-president for corporate social responsibility Baey Yam Keng said that more initiatives will be rolled out in the coming months. It is understood that these will include programmes for schools and the possible adoption of water bodies such as reservoirs.
Dr Yaacob said the Government is heartened to see the private sector embracing and spreading the green message.
'It is obvious that they know best how to implement this at their operations and we do not want to legislate this but rather work with them.
'We encourage more private sector parties to take up such initiatives in the future.'
CDL reveals what it does for society and environment
Conrad Tan, Business Times 16 May 08;
CITY Developments Ltd (CDL) yesterday launched its first annual report focusing on the property developer's impact on the environment, such as energy usage and carbon emissions.
The 54-page voluntary report, one of the first of its kind for a Singapore public-listed company, also details CDL's activities and performance on various social and environmental issues, including efforts to improve the efficiency of energy and water use at its property projects and to reduce the amount of waste it generates.
But profits still come first, managing director Kwek Leng Joo said at a media conference to launch the report yesterday.
'Businesses are for profit. Companies are out there not primarily to do charity work, think about how they should protect the environment or how they should repay kindness to society,' he said. 'The primary obligations are to the shareholders and investors.'
A company needs to be profitable first 'before it can even put itself in a position to talk about CSR (corporate social responsibility) or anything else', Mr Kwek said.
Just a day earlier, CDL reported a 31 per cent jump in net profit to $165 million in the first quarter from a year earlier. And last year saw record revenue and profit for the second-largest developer here amid the boom in property prices.
But a public-listed company must also be sure that 'whatever kind of business it is in is sustainable', which is where CSR issues are relevant, Mr Kwek said.
As a major property developer, paying attention to environmental conservation and protection issues is necessary to ensure that its core business of developing and managing new projects is sustainable in the long term, he added.
According to the report, CDL invests 2-5 per cent of the construction cost of a project in environmentally friendly 'green' design and features.
The company said it aims to track and measure its social and environmental efforts and performance against international benchmarks, and is setting up a formal CSR committee comprising senior management that will report directly to Mr Kwek.
Zoe Knight, head of socially responsible investment research at Merrill Lynch, said the report is a 'breakthrough' for Singapore.
Other Singapore-listed companies that have published separate environmental impact reports include Singapore Airlines and Chartered Semiconductor Manufacturing.
Seeing green with Capitafrog
Arthur Lee Business Times 17 May 08;
CAPITALAND unveiled a green mascot called Capitafrog as it launched its Building a Greener Future programme at Raffles City on Thursday. The property group is looking at making the mascot into a soft toy and will unveil further green initiatives in the coming months.
To drive home the green message, some 100,000 green shopping bags will be distributed to shoppers via CapitaLand mall tenants. Shoppers get one stamp on a loyalty card each time they use the bag. They can exchange three stamps for a limited edition Building a Greener Future umbrella adorned with Capitafrog. In addition, 168 customised recycling bins for paper, metal and plastics will be strategically placed in CapitaLand malls, offices and Ascott service residences to encourage the green habit.
The company will also invite architectural students in China to participate in a design competition for a Green CapitaLand Hope Foundation school as part of a corporate social responsibility (CSR) and green campaign.
