Smart green investments in tough times gear businesses for better days: CapitaLand CSO

The key for companies is to be wise about where they spend their money in sustainability investing, said CapitaLand CSO Vinamra Srivastava.

“Once the market turns back, all this money will get invested and where will this get invested – it will be in high-quality assets. So if you don’t continue to upkeep your assets to a certain level, you will face the music when it’s time for you to sell the assets.” With the shift to becoming greener, companies that do not invest early enough will be hit by the carbon tax, said Mr Srivastava.It is as simple as switching from a normal lamp to an LED light in the office, which makes energy savings and hence, cost savings.

Companies might end up having stranded assets or assets that they cannot lease or sell because of the emphasis on sustainability. “They don’t have the systems. They don’t have the processes. They don’t have the people. They don’t have ways in which to collect and organise data in a way that is clean enough and that is comprehensive,” he said.

Mr Srivastava added that governance structure is especially important for smaller firms as they might inadvertently trip on greenwashing due to the lack of knowledge or lack of experience. Greenwashing refers to activities that make people believe that a company is doing more to protect the environment than it really is.

In 2022, the company elevated its commitment by pledging to achieve net-zero by 2050. To get there, it aims to reduce absolute Scope 1 and 2 greenhouse gas emissions by 46 per cent by 2030, up from 28 per cent previously. Scope 1 covers direct emissions while Scope 2 covers indirect emissions from the generation of purchased electricity, steam, heating and cooling consumed by its client.

In the past few years, CapitaLand Investment has centred its ESG efforts around strengthening and deepening its master plan targets, placing more emphasis on transparent reporting and ESG risk management, as well as doubling down on energy efficiency and procurement of renewable energy.

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