CICT posts ‘above average’ ESG score for cutting carbon, water intensity
The analyst said the firm needs to improve workplace safety.
The CapitaLand Integrated Commercial Trust (CICT) has exceeded the average score for environment, social, and governance requirements of Maybank for its long-term goals and sustainability master plan.
“CICT is the proxy for Singapore commercial real estate and a beneficiary of reopening as well as resilient domestic consumption,” said Maybank.
Its score was 2.0 of 66 for being able to reduce carbon emissions and water intensity in its operations in excess of 40% from base year 2008.
“CICT has raised about SGD3.2b of green/sustainability-linked debt as of 30 Sep (32% of borrowings),” it said.
However, it still needs to improve workplace safety and environmental issues.