CapitaLand Group is partnering with its tenants for the first time for its third CapitaLand Sustainability X Challenge (CSXC), extending its sustainability efforts to its eco-system partners as it seeks to reduce its scope 3 carbon emissions. Selected CSXC innovations will have the opportunity to be piloted at the premises of CapitaLand’s tenant partners, in addition to the Group’s global network of properties available for startups to testbed their solutions. Funding for this year’s chosen CSXC pilots has also been upsized to over S$1 million to accelerate CapitaLand’s innovation drive in its journey towards Net Zero carbon emissions by 2050. CSXC is the first global sustainability-focused innovation challenge for the built environment by a Singapore-based real estate company. CSXC 2023 submissions are open from now till 1 June 2023 and the top 10 innovations will be shortlisted in early July 2023 to pitch at the CSXC Demo Day to be held in end October 2023.
CSXC tenant partners could gain potential energy and water consumption savings, reductions in waste, and/or improvements in overall health and well-being through the green innovations sourced. DBS Bank Ltd. (DBS) is the first of these new partners to join CSXC and potentially support the startups to run their pilots at DBS’ tenanted spaces in CapitaLand’s properties. CapitaLand also welcomes the Building and Construction Authority (BCA) and Enterprise Singapore (EnterpriseSG) as Exclusive Partners in CSXC 2023 and will collaborate closely to amplify its impact.
Vinamra Srivastava, CapitaLand Investment’s Chief Sustainability Officer, said, “CapitaLand’s sustainability journey started over two decades ago. We recognise that innovation is a key lever to achieve our sustainability targets. CSXC offers startups from around the world the opportunity to testbed their innovations for the built environment at our properties as well as tap on leading industry expertise to commercialise and scale up their solutions. Twenty innovations from our first two challenges have been given the opportunity to be piloted at 24 CapitaLand properties in five countries. We are implementing innovations from the successful pilots at several of our properties.”
“Collective action is necessary to effect meaningful change, and our stakeholders’ involvement is integral in our journey to achieve Net Zero emissions by 2050. We have been actively engaging tenants through initiatives such as our green lease programme, providing green fit-out guides and activities to raise awareness on sustainability. By partnering with them to pilot CSXC innovations at their spaces, we hope to work collaboratively to improve their sustainability performance, and leverage innovation to create a better future. We thank BCA, EnterpriseSG, DBS and our other partners for their continued support of CSXC,” added Srivastava.
