Real Estate Firm CapitaLand Development Names Head of Sustainability: 3 Things to Know

CapitaLand Development (CLD), a real estate firm in Asia, has named Giovanni Cossu (pictured, top of page) as head of sustainability. He reports to Wee Hsien Tan, CEO of CLD’s new business and strategic planning division.

Here are three things to know about Cossu and CapitaLand Development (CLD).

1. Business Scope and Scale: In August 2021, CapitaLand's shareholders voted to restructure the business to form two entities: 

• CapitaLand Investment (CLI); and
• CapitaLand Development (CLD).

The CLD business serves core markets in Singapore, China and Vietnam. Key focus areas include retail, offices, lodging, residential, business parks, industrial, logistics and data centers. CLD's portfolio was work S$22 billion (US$16 billion) as of July 2023.

2. Sustainability Strategy: To understand where CLD and Cossu may be heading with sustainability, check out key moves in the CLI sister business, where Vinamra Srivastava serves as chief sustainability officer.

Indeed, CapitaLand Investment (CLI) has a 2030 Sustainability Master Plan that strives to achieve net-zero carbon emissions by 2050, while reducing Scope 1 and 2 carbon emissions by 46% by 2030. The plan, launched in 2020, was revised in June 2021. The revised plan includes an increased target for the use of renewable energy from 35% to 45% by 2030, and a new target to reduce waste intensity in day-to-day operations by 20%. It also introduces new social targets focused on social impact, human capital development, and employee wellness, including having at least 40% female representation in senior management, and increases focus on governance.

3. Giovanni Cossu's Role and Experience: Cossu's will focus on expanding CLD's green competency across the life cycle of building and precinct projects. He'll also champion all sustainability initiatives and ESG (Environmental, Social and Governance) efforts as part of CLD's overall growth strategy. He previously was associate director of sustainability services at National University of Singapore.

New Head of Sustainability: Why Technology Partners Should Care

By 2027, 25% of Global 2000 companies will have assigned a chief sustainability officer (CSO) responsible for meeting their organization’s ESG goals and making ESG-related IT purchasing decisions, according to IDC.

Technology partners need to extend their sales, marketing, engagement and support strategies to successfully fulfill those CSO needs, Sustainable Tech Partner believes.