SINGAPORE (EDGEPROP) - City Developments (CDL) has been named the fifth most sustainable corporation in the world, according to an annual ranking by Toronto-based media and research firm Corporate Knights.

The Global 100 Most Sustainable Corporations in the World ranking assesses corporations based on environmental, social and governance (ESG) indicators using publicly available information. This year, a total of 6,900 companies with more than US$1 billion ($1.35 billion) in revenue were evaluated.

CDL emerged fifth on the list, jumping from the 40th place position it garnered in 2021. This marks the company’s best performance to date in the 13 consecutive years it has been included in the Global 100. CDL also remains the highest-ranking Singapore company in the list, a position held for a fourth consecutive year.

Sherman Kwek, CDL’s group CEO, says the company is honoured to receive the ranking. “Our unwavering commitment continuously spurs us to set new benchmarks, such as including embodied carbon in our net zero targets,” he says.

The company has pledged to achieve net zero emissions for assets under its direct control by 2030.