CapitaLand saves $1.5m with green initiatives

Keith Chee, Business Times 15 Jan 09;

(SINGAPORE) CapitaLand said yesterday it saved about $1.5 million last year through green initiatives.

The initiatives were introduced as part of the group's ISO certification for environmental management, which it obtained for its Singapore operations in 2007.

In the first 11 months of 2008, CapitaLand reduced electricity and water consumption by 4 and 5 per cent respectively for 23 properties in Singapore.

In doing so, it achieved its overall aim of reducing electricity and water consumption by 2 per cent in 2008 from 2007.

According to president and chief executive Liew Mun Leong, CapitaLand surpassed its targets by 'creating an environmentally aware mindset throughout the company and implementing various green initiatives to reduce, reuse and recycle'.

It was able to make savings by taking a holistic approach to developing and managing its projects, properties and office operations.

One of the systems it has in place is an online environmental tracking program that monitors about 150 of its properties in 60 cities worldwide.

For 2009, CapitaLand aims to cut utility consumption 3 per cent at about 150 Singapore and overseas properties, saving about $3.5 million in the process.