Strong sustainability performance places CLINT in the global top 20%
INDIA: CapitaLand India Trust (CLINT) has achieved the highest 5-star rating for standing investments in the 2024 GRESB Real Estate Assessment for the first time, placing CLINT in the top 20% of the benchmark globally. CLINT was awarded a total score of 90 out of 100, making it the 19th highest among listed companies in Asia. CLINT advanced from its 4-star rating for standing investments in 2023, which was its inaugural submission, and maintained its 4-star rating under the development category.
Mr Gauri Shankar Nagabhushanam, Chief Executive Officer of CapitaLand India Trust Management Pte. Ltd. (the Trustee-Manager of CLINT), said: “Achieving the top 5-star rating from GRESB validates our sustainability efforts and is a milestone in our journey towards creating a sustainable built environment. It reflects CLINT’s commitment to responsible business practices, environmental sustainability, and creating long-term value for our stakeholders. CLINT integrates sustainability in every stage of the real estate life cycle, from investment to design, development, operations, and financing. As of December 2023, 99% of our business parks portfolio is green-certified. We have also reduced Scope 1 and 2 carbon emissions intensity by 52% as compared to our 2019 baseline.”
“The increased adoption of renewable energy is central to CLINT’s decarbonization strategy and in line with our sponsor CapitaLand Investment’s commitment to achieving Net Zero carbon emissions for Scope 1 and 2 by 2050. Approximately 39% of CLINT’s energy consumption is sourced from renewable energy. In January 2024, we set up a 21-megawatt solar plant in Tamil Nadu to further increase our green power usage. In addition, 63% of our loans are sustainability-linked. We will continue to identify and adopt meaningful environmental, social, and governance (ESG) practices to drive sustainable growth,” added Mr Gauri Shankar.
GRESB Real Estate Assessment is a global benchmark that captures information regarding ESG performance and sustainability best practices for real estate funds and companies worldwide.
In addition to GRESB’s 5-star rating, CLINT has received other notable recognitions for its ESG performance this year. These include the Corporate Sustainability Award at Securities Investors Association Singapore (SIAS) Investors’ Choice Awards 2024 and an ESG ‘A’ rating from Morgan Stanley Capital International (MSCI). CLINT also received a ‘Gold’ award for Annual Report in the REITs & Business Trusts category at the Singapore Corporate Awards 2024.
