CORPORATE POLICIES & ESG COMMITMENTS
In line with the Board’s stance to maintain high ethical standards that are integral to our corporate identity and business, CDL has the following corporate policies and guidelines in place. These are also available on our corporate website (www.cdl.com.sg) and our Intranet.
As part of CDL’s corporate governance process, all corporate policies are reviewed and approved by our Board of Directors and/or the relevant board committees or the Senior Management. The policies have been disseminated to employees of CDL’s key subsidiaries, where necessary. To facilitate the understanding of domestic workforce in our overseas subsidiaries, the policies are also translated into local languages, where necessary.
- Investor Relations Policy
- Whistle-blowing Policy
- Anti-Corruption Policy
- Fraud Policy
- Competition Policy
- Personal Data Policy
- Anti-Money Laundering and Counter Financing Terrorism Policy
- Board Diversity Pledge
- Crisis Management Protocol
- Employers’ Pledge of Fair Employment Practices
- Ethical Marketing Practices
- Green Lease Partnership Programme
- Green Procurement Specifications
- Pledge for Zero – A CEO Commitment Charter
- Singapore Stewardship Principles
- Supplier Code of Conduct
- Support for Task Force on Climate-related Financial Disclosures
- Sustainable Employment Pledge
- Women’s Empowerment Principles
Board Diversity Policy
This Board Diversity Policy sets out the policy and framework for promoting diversity on the Board of Directors (“Board”) of CDL.
The Board welcomes the push for greater diversity in the boardroom which can provide a more diverse approach to business decision making and the Company had, since 28 August 2015, supported the Board Diversity Pledge initiated by SID and SGX-ST where the Company pledged its commitment to promote “diversity as a key attribute of a well-functioning and effective Board” and shared the view “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”.
Click here to read our Board Diversity Policy.
Investor Relations Policy
CDL is committed to engaging our shareholders through regular, effective and fair communication, in compliance at all times with the requirements for disclosure of information in accordance with listing rules of the Singapore Exchange Securities Trading Limited (SGX-ST).
The Company’s Investor Relations (IR) department serves as an intermediary between the Company and our shareholders and the investment community. Through effective information disclosure and dialogue, CDL aims to further enhance our corporate transparency and maintain the trust of our stakeholders.
Click here to read our IR Policy.
Within the organisation, the commitment to conduct business with integrity and the highest ethical standards whilst complying with applicable laws and regulations is translated into cultivating the values of openness, integrity and accountability amongst all CDL employees. CDL has a Whistle-blowing Policy to ensure that arrangements are in place to allow whistle-blowers to raise concerns over a breach of these standards, highlight incidents of malpractice or wrongdoings within the Company.
This Policy applies to any suspected improprieties involving employees of the CDL Group except employees of subsidiaries that have their own audit or risk committees which have oversight of their whistle-blowing programme.
Communication Channels to CDL Ethics Officer
|Calls From:||Countries of Operations||Toll-free numbers|
|United States of America||1-833-795-0114|
|Postal address:||CDL Ethics Officer|
|9 Raffles Place|
|#12-01 Republic Plaza|
Click here to read our Whistle-blowing Policy.
This sets out the responsibilities of the Group companies and of each employee in observing and upholding CDL’s position against all forms of corruption, bribery and extortion. The Anti-Corruption Policy also provides information and guidance to employees on how to recognise, address, resolve, avoid and prevent instances of corruption, bribery and extortion which may arise in the course of their work.
Click here to read the Anti-Corruption Policy.
The Fraud Policy provides guidance on actions which may constitute fraudulent conduct and highlights the importance of the implementation, maintenance and compliance with the internal controls framework of the Group and its policies and procedures.
Click here to read the Fraud Policy.
The Competition Policy sets out CDL’s policy to compete fairly and ethically in the conduct of business in all of its markets, and in compliance with the competition laws which apply to the Group’s business activities. This policy seeks to educate and improve the knowledge and understanding of CDL’s employees on anti-competitive practices and acts of abuse of dominant position which are prohibited, and to provide direction and guidance to employees in their relationships and communications with competitors and customers.
Click here to read the Competition Policy.
Personal Data Policy
The purpose of the CDL Personal Data Policy is to inform you of how CDL manages personal data which is subject to the Singapore Personal Data Protection Act (No. 26 of 2012) (“the Act”). Please take a moment to read the CDL Personal Data Policy so that you know and understand the purposes for which we collect, use and disclose your personal data.
- have any questions, complaints or feedback relating to your Personal Data or our Personal Data Policy;
- would like to withdraw your consent to our use of your Personal Data as set out in our Personal Data Policy; or
- would like to obtain access and/or make corrections to your Personal Data records under our control or in our possession,
Please contact CDL as follows:
|Postal:||Data Protection Officer|
|City Developments Limited|
|9 Raffles Place|
|#12-01 Republic Plaza|
Climate Change Policy
As the threats and impacts of climate change become increasingly unprecedented in scale, rapid, far-reaching transition to a new climate economy is required. As Singapore’s property pioneer and leading green developer, CDL recognises the crucial role it has to play in mitigating and adapting to the effects of climate change. At the core of our sustainability-centric vision is our ethos of “Conserving as We Construct” established since 1995 and our 2030 Future Value sustainability blueprint launched in 2017.
To help achieve the Paris Agreement global climate targets, CDL is dedicated to achieving low-carbon operations by setting a science-based target to reduce greenhouse gas intensity across Singapore operations by 59% from base-year 2007 by 2030. Recognising that a sizeable proportion of our carbon footprint lies outside our business operations and direct control, we actively engage our supply chain and stakeholders to mitigate climate impact and to encourage communities we operate in to make more low-carbon choices.
Click here to read our Climate Change Policy.
Environmental, Health and Safety (EHS) Policy
For over a decade, CDL has been advocating environmental sustainability in Singapore’s built environment. We make it our business to take concerted efforts towards preventing pollution on the environment and striving to apply environmentally-friendly practices in our operations.
To this end, the EHS Policy was established in 2003. This sets the strategic direction for all departments and employees towards creating a “Green & Safe” corporate culture, conserving resources and preventing pollution.
Click here to read our EHS Policy.
Human Rights Policy
CDL believes in upholding fundamental principles of human and workplace rights in places where we operate. Since 2005, we have been a signatory to the United Nations Global Compact’s principles on Human Rights and Labour, and are guided by international human rights principles as derived from the Universal Declaration of Human Rights and the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work. Beyond our compliance to the local government’s policy and national legislation in protecting human rights, we are committed to respecting human rights in all aspects of our stakeholder engagement such as equitable employment practices, non-discrimination, fair welfare and compensation, as well as workplace health and safety within our developments.
Click here to read our Human Rights Policy.
Universal Design Policy
In line with our commitment to put users’ needs as a priority in the spaces we build, CDL instituted a companywide Universal Design Policy since 2011. Endorsed by CDL’s top management, the policy exceeds the mandatory requirements specified in the Code of Barrier-Free Accessibility by BCA to create an inclusive built environment in Singapore that caters to the varied needs of the public. The policy also contributes to SDG 11 (Sustainable Cities and Communities), which sets out to provide safe, accessible and green public spaces to every member of society.
CDL seeks to uphold fair and responsible practices and promote inclusivity along our value chain, by supporting the following best industry practices and ESG commitments.
|Anti-Money Laundering and Counter Financing Terrorism Policy||In 2016, CDL introduced the Anti-Money Laundering and Counter Financing Terrorism Policy for our property business in line with URA’s guidance and the 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 frontline sales and compliance function to detect and report such criminal acts.|
|Board Diversity Pledge||In 2015, CDL supported the Board Diversity Pledge initiated by the Singapore Institute of Directors and SGX. By taking the Pledge, CDL commits to promote diversity as a key attribute of a well-functioning and effective Board. In 2017, the Board of CDL formally adopted the Board Diversity Policy, which sets out the policy and framework for promoting diversity on the Board.|
|Crisis Management Protocol||In 2016, CDL validated our corporate crisis management protocol which includes incident escalation, operational response and crisis communication. The effort culminated in a crisis simulation exercise where Senior Management was put through a series of rigorous crisis scenario-based tests and a mock media conference and interview.
As of 1 February 2020, CDL has released a Group-wide Incident Escalation and Reporting Framework to facilitate structured reporting and management of all incidents with a potential financial, operational or reputational impact on the Group.
|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.|
|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.
|Green Lease Partnership Programme||To support our commercial tenants’ efforts to lower their carbon footprint, we implemented the Green Lease Partnership Programme in 2014. Since end 2019, 100% of existing tenants have pledged their commitment to go green by signing a Green Lease.|
|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:
|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 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 proponent of responsible investing, we support the call for good governance and stewardship by investors as communicated in the Singapore Stewardship Principles.|
|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:
Click here to read our Supplier Code of Conduct.
|Support for 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 catalyse 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.|
|Sustainable Employment Pledge||Purposeful actions by companies will foster a vibrant economy and society through sustainable employment practices and encouraging innovation. CDL has taken the Sustainable Employment Pledge, an initiative by Singapore Business Federation, and has committed to make at least one improvement to our practices in sustainable employment every twelve months|
|Women’s Empowerment Principles||We recognise the valuable contribution of our women employees to CDL’s business growth and sustainability leadership. With a workforce that is nearly 70% female, CDL is committed to empowering women in our workplace and supporting their pursuit for career and personal development. The Board and top management of CDL firmly believe that diversity and inclusion will strategically enhance a company’s human capital and performance for future growth. Our Group CEO joined over 1,600 leaders globally in pledging CDL’s support for the Women’s Empowerment Principles. Developed through a partnership between the UN Women and UNGC, the principles offer practical guidance to the private sector on how to empower women in the workplace, marketplace and community.|