ESG Best Practices
The Board and Senior Management remain steadfast in conducting business with integrity, consistent with the high standards of ethics, and in compliance with all applicable laws and regulatory requirements. This shapes a culture of responsibility among employees, with a system of checks and balances at all levels of the organisation.
CDL has a comprehensive set of Corporate Policies and Guidelines in place to provide guiding principles on business conduct and ethics for all employees, in ensuring sustainable business practices.
- Whistle-blowing Policy
- Anti-Corruption, Fraud and Competition Policies
- Personal Data Policy
- Environmental, Health and Safety (EHS) Policy
- Human Rights Policy
- Climate Change Policy
In addition, CDL seeks to uphold fair and responsible practices and promote inclusivity across our business operations and value chain through the following commitments.
Anti-Money Laundering and Counter Financing Terrorism Policy
In 2016, CDL introduced the Anti-Money Laundering and Counter Financing Terrorism policy for its property business in line with Urban Redevelopment Authority’s guidance and Monetary Authority of Singapore’s mission to mitigate the risk of Singapore being used as a platform by global criminals and terrorist organisations to launder illicit funds. The Policy provides guidelines and procedures for our front line sales and compliance function to detect and report such criminal acts.
Employers’ Pledge of Fair Employment Practices
CDL is a signatory of the Employers’ Pledge of Fair Employment Practices with the Tripartite Alliance for Fair Employment Practices (TAFEP). TAFEP works with employer organisations, unions and the Government to create awareness and facilitate the adoption of fair employment practices. The alliance is co-chaired by representing employer unions and National Trades Union Congress.
Green Procurement Specifications
Reflecting our belief in more efficient use of resources, we have a set of Green Procurement Specifications for the selection of vendors and suppliers at our Corporate Office and across core business operations in Singapore. The guidelines include:
- Sharing the corporate EHS Policy with new vendors and suppliers
- Indicating preference for use of eco-friendly and recycled materials and products
- Indicating preference for ISO 14001 certified vendors
- Declaring the use of eco-friendly and recycled paper in printed materials
Supplier Code of Conduct
The Supplier Code of Conduct provides comprehensive guiding principles for our vendors and suppliers to comply with CDL’s expectations of ethical standards, covering the following areas:
- Business integrity
- Fair competition
- Open Communication
- Conflict of interest
- Gifts and entertainment
- Health, Safety, and Environment
- Legal Compliance
- Human Rights
Ethical Marketing Practices
Since 2000, we have developed a set of internal procedures and an operations manual for marketing and leasing. These are reviewed annually to reflect changes in marketing practices, technology, regulation, and stakeholder expectations.
Marketing collaterals produced by CDL are compliant with the Singapore Code of Advertising Practice administered by the Advertising Standards Authority of Singapore, an Advisory Council to the Consumers Association of Singapore.
CDL’s marketing practices also comply with the URA’s Housing Developers Rules (HDR) and Building and Construction Authority’s (BCA) Guidelines for Outdoor Signs at our construction sites. The HDR seeks to enhance transparency in the real estate industry, enabling homebuyers to make better informed decisions when buying a home, while the BCA guidelines prohibit cross-marketing of other products and services.
Board Diversity Pledge
In July 2015, CDL supported the Board Diversity Pledge initiated by the Singapore Institute of Directors and the SGX. By taking the pledge, the Company commits to promoting diversity as a key attribute of a well-functioning and effective Board.
This is in line with our belief that a diverse Board will enhance decision-making by harnessing the variety of skills, industry and business experiences, gender, age, ethnicity and culture, geographical background and nationalities, tenure of service, and other distinguishing qualities of the members of the Board.
Crisis Management Protocol
In 2016, CDL validated our corporate crisis management protocol which include incidence escalation, operational response and crisis communication. The effort culminated in a crisis simulation exercise where the SMT was put through a series of rigorous crisis scenario-based tests and a mock media conference and interview.
Universal Design Policy
CDL develops a wide range of properties from mass market executive condominiums to luxury homes. Regardless of property type, we believe that resource-efficient buildings can be a differentiator. We also continue to embed the principles of Universal Design – “design for all people” in all our projects, above the mandatory requirements specified in the Code of Barrier-Free Accessibility by the BCA.
Our design brief includes features that encourage community-building and social integration. Our Universal Design Policy, which is endorsed by CDL’s top management, provides the Company with a framework to create an inclusive built environment through developing buildings that respond to differing customer needs.
Beyond championing fair practices within our operations and value chain, CDL is also supportive of industry best practices and commitments such as the following:
Pledge for Zero – A CEO Commitment Charter
CDL is a founding signatory of the “Pledge for Zero – A CEO Commitment Charter”, launched at the inaugural Construction CEO Summit organised by the Workplace Safety and Health Council in 2008. CDL adopted the pledge and committed to establish a zero-injury workplace. In 2016, CDL reiterated our commitment towards Construction Industry Workplace Safety and Health (WSH) Action Plans by galvanising 24 of our key builders and consultants to sign the ‘Pledge Towards Vision Zero Through Safe Design – Safe Practices – Safe Culture’.
Singapore Stewardship Principles
CDL is committed to upholding the highest standards of governance, integrity and sustainability in all our business activities. As a sustainability leader and a proponent of responsible investing, we support the call for good governance and stewardship by investors as communicated in the Singapore Stewardship Principles.
Support for FSB Task Force on Climate-related Financial Disclosures
“CDL supports the voluntary disclosure recommendations of the industry-led Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD). As a sustainability pioneer and green building champion, CDL believes that climate change will have significant impacts across many sectors and regions. Businesses have an important role to play in ensuring transparency around climate-related risks and opportunities. The Recommendations will catalyze more reliable disclosure of information that will facilitate more informed businesses and investment decision-making. It will help support a smooth transition to a low-carbon economy. We encourage more businesses to support better climate-related financial disclosure.”