CapitaLand Investment enhances reporting of Scope 3 emissions

CapitaLand Investment (CLI) has enhanced its Scope 3 emissions reporting with new categories and an expansion of existing categories.

This follows the latest review of its full inventory of such emissions across its value chain, said CLI on Wednesday (Jun 5).

Scope 3 emissions are the indirect emissions arising from a company’s supply chain.

The real estate investment manager has incorporated three new Scope 3 categories deemed material to its operations, namely purchased goods and operations, fuel and energy-related activities, and upstream transportation and distribution.

This is on top of expanding the scope of the capital goods and downstream leased assets categories, according to its 15th Global Sustainability Report.

CLI added that the widened scope reaffirms its commitment to act on its sustainability targets and the progress charted by its 2030 Sustainability Master Plan.

Vinamra Srivastava, CLI’s chief sustainability and sustainable investments officer, noted that Scope 3 emissions account for the majority of CLI’s total greenhouse-gas emissions.

“With tenant emissions being the largest contributor to Scope 3, we are pleased that we have increased green leases with tenants in China and Singapore to 57 per cent as at end-December 2023 from 43 per cent a year ago, and we’ll continue to do so globally,” he said.

He added that CLI is also stepping up collaboration with tenants and strengthening its supply chain management. This includes deploying a series of ESG-related capability-building programmes for selected critical suppliers in a third-party due diligence ESG check it commissioned.

“Our continuous focus on sustainability through on-the-ground actions and reporting addresses our vision of being the preferred global real asset manager creating sustainable positive impact.”

CLI’s : 9CI 0% shares closed on Tuesday down 0.4 per cent or S$0.01 at S$2.66.