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StarHub, City Developments among world's most sustainable companies
TWO homegrown companies have made it to the list of top 10 most sustainable corporations in the world.
This makes Singapore the only Asian city to have representation in the top ranks alongside the Western regulars.
Telco StarHub has clinched eighth position, while property developer City Developments Ltd (CDL) came in 10th.
The results were announced on Thursday during the World Economic Forum in Davos, Switzerland by Corporate Knights, a Toronto-based media and investment advisory company.
Publicly listed companies with a market capitalisation of at least US$2 billion were considered in the assessment. Companies were then evaluated across 12 key performance indicators that measure the management of resources, employees and finances.
Tan Tong Hai, CEO of StarHub, said: "I am very happy that our efforts to create a sustainable future and to deliver long-term value for our stakeholders are recognised. It has always been important to us to do what is right for the business, community and the environment."
In 2013, StarHub was ranked 66th in its first entry and had improved its ranking to 29th in 2014 and 24th in 2015.
Meanwhile, CDL was also crowned the world's most sustainable real estate company.
CDL owes its status as a sustainability forerunner to the work of its deputy chairman Kwek Leng Joo, who died last November from a sudden heart attack. Mr Kwek was a well-known advocate of corporate social responsibility, especially in championing sustainability practices to be adopted by businesses.
Starting from 81st position in 2010, CDL's ranking improved to 34th in 2015 and rose to 10th in 2016.
CEO Grant Kelley said: "We are focused on sustainable development and have helped to green Singapore with more than 80 Green Mark buildings... Our efforts have created stronger brand equity and product differentiation. They have also given us a first-mover advantage as environmental regulations have been mandated progressively for the property sector."
Keppel Corporation also made a debut at 55th spot on the Global 100 list. It was also the top industrial conglomerate, beating even giants such as General Electric.
CapitaLand was also listed 93rd in the list.
Toby Heaps, CEO of Corporate Knights, noted that the presence of Asian firms on the Global 100 has grown significantly since the index was first launched in 2005. "This is a trend that is set to continue as the region develops and sustainability issues gain prominence on companies' agendas."