CDL: Integrating new approaches to biodiversity reporting

Context

City Developments Limited (CDL) is a leading global real estate company with a network spanning 163 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalization. With over 60 years in real estate development, investment and management, the Group has developed over 50,000 homes and owns around 23 million square feet of gross floor area in residential for lease, commercial and hospitality assets globally. 

CDL's consistent dedication to sustainability is embodied in its ethos, ‘Conserving as We Construct’, a guiding principle since 1995.  The company’s sustainability strategy recognizes and assesses the profound impact of business on nature and biodiversity. This strategy aims to strengthen CDL’s commitment to a purpose-driven and resilient triple bottom line; add value to its stakeholders; and accelerate collective nature-positive action.  

Exploring new reporting tools

Since 2016, reporting according to GRI 304: Biodiversity 2016 has significantly aided CDL in understanding and managing its biodiversity impacts through a structured framework that emphasizes transparency and accountability. GRI 304: Biodiversity 2016 helped CDL disclose and gain awareness on its impacts by:

• Allowing location-specific reporting: the disclosure of information about its operational sites in relation to protected areas and areas of high biodiversity value enable CDL to assess and understand potential nature-related risks.
• Promoting management of significant impacts: CDL has reported and gained awareness on significant direct and indirect impacts of its activities on biodiversity and how to manage them. In 2020, the company launched a Biodiversity Policy and in 2021 aligned it with Singapore’s “City in Nature” vision, adding “Biodiversity Conservation” to CDL’s list of material ESG issues. 
• Encouraging habitat protection and restoration: disclose efforts related to the protection and restoration of habitats, fostering a proactive approach to biodiversity management. 
  

By mandating the identification of biodiversity impacts across operations and supply chains, GRI 304: Biodiversity 2016 guided CDL to utilize information and tools to conduct thorough risk assessments on its impact on nature. This includes understanding how its activities may contribute to biodiversity loss and identifying opportunities for mitigation and remediation.    

Since 2010, CDL has been conducting Biodiversity Impact Assessments (BIAs) on greenfield sites adjacent to natural habitats before construction begins. These early assessments have enabled CDL to identify and mitigate environmental impacts before they occur. One significant success includes their Forest Woods condominium project, where the company carried out a comprehensive Environmental Impact Assessment (EIA) that included biodiversity, traffic, public health, and more. CDL was able to successfully preserve two rare Black Morinda trees, balancing development with ecological responsibility. 

In 2024, CDL became the first company in Singapore and Southeast Asia to publish a TNFD-aligned report within its annual Integrated Sustainability Report, underscoring the commitment to transparency and environmental responsibility. The inclusion of the TNFD LEAP (Locate, Evaluate, Assess, and Prepare) approach within GRI 101: Biodiversity 2024 provided a structured and harmonized method to align and identify the most significant biodiversity-related impacts in accordance with other standards and disclosure frameworks. The TNFD and GRI 101: Biodiversity 2024 both use consistent concepts like the five direct drivers of biodiversity loss defined by IPBES. By following the LEAP steps, CDL can effectively identify biodiversity impacts, ensuring alignment with GRI 101: Biodiversity 2024 disclosures in the future.  

CDL also adopted advanced tools like ENCORE and Xylo Systems to assess its nature-related dependencies and impacts from operations of wholly-owned and directly managed assets in Singapore. ENCORE was used to evaluate CDL’s dependencies and impacts on ecosystem services across its value chain. Xylo Systems enabled them to monitor biodiversity at a granular level, evaluating species diversity and occurrences. CDL assessed a project area of over 238,000m², and found an average biodiversity index of 0.86.

Integrating these tools supported CDL to report its impacts comprehensively under GRI 101: Biodiversity 2024 and the TNFD. However, some challenges remain. It is difficult to completely avoid the effects of urban development on local biodiversity, especially when operating in highly urbanized cities like Singapore. Human disturbance, which is difficult to avoid because of the high density of residents and urban activity, has been identified as a key driver for species decline across CDL's sites. Consequences of biodiversity loss are not always easy to predict,and assessing long-term impacts continues to require improved data collection and monitoring. 

Lessons learned

• Early identification and prevention as part of Biodiversity Impact Assessments is helpful to proactively think about preventing biodiversity loss, mitigating impacts, and ensuring the developments fit more harmoniously with the surrounding ecosystems. 

• The use of data-driven tools Xylo Systems and ENCORE has shown CDL the value of technology in enhancing the accuracy and effectiveness of biodiversity management.  

• Interoperability within frameworks such as GRI and the TNFD makes reporting more efficient, reducing duplication and driving meaningful action. 

• The success that came with proactively carrying out environmental assessments and using advanced tools to monitor biodiversity has encouraged CDL to strengthen their commitment to finding better ways to balance sustainable development with the conservation of biodiversity.