Formerly listed on the Singapore Exchange as Global Yellow Pages Limited and privatised last year, the company now known as Sedar Properties is the latest in a growing number of companies to achieve B Corp certification in Singapore.
According to latest data, there are over 7,500 certified B Corporations in 80 countries around the world. Sedar Properties is now Singapore’s 35th B Corp and just one of a handful of property developers in the region to achieve the certification.
Sedar Properties, helmed by property developer CEO Stanley Tan, has an industrial building in Toa Payoh, as well as residential and retail developments in East Auckland, South Auckland and Queenstown in New Zealand covering over 25 hectares. Tan says that the construction and operation of buildings is responsible for 39 per cent of global emissions globally, which is why their team is committed to climate neutrality and implementing sustainability programmes that aim to address their environmental and social impact, both directly and throughout their supply chain.
“We acknowledge that contributing to the development and regeneration of communities comes at a cost to the earth, and we are committed to developing an action plan to measure and reduce our environmental impact.
“In the building industry, there is increasing awareness at all levels of the development process, from finance through to our trade supply channels, of the sector’s environmental footprint. One area that is gaining increasing attention is embodied carbon – the emissions associated with the manufacture and use of a development, including construction materials, the building process, and fixtures and fittings.
“Whilst we are still far away from being able to calculate the total embodied carbon of our projects, our research has included investigating the use of lower embodied carbon building materials. As a result of an internal study, we are now looking for opportunities to introduce sustainably grown mass timber as an alternative to concrete structural components in our developments.
“Innovation is a key driver to improving sustainability, so we are also working closely with our sister company Rumah Investments that invests in early-stage sustainability solutions for the built environment that could be deployed in our developments.
“Recycling programmes have also helped divert construction waste from landfill and a recently introduced organic waste programme at one of our retail properties is sending food scraps to a commercial composting facility annually, rather than landfill,” he says.
Tan says the introduction of the B Corp certification may introduce a new purchasing consideration for first home buyers.
“Historically, first home buyers looking to enter the market may have had to prioritise cost over environmental criteria. The certification may mean they will now be able to purchase a dwelling with the reassurance that the developer has met stringent social and environmental standards.
“We are wholly supportive of B Corp’s vision of an inclusive, equitable and regenerative economy and are proud to be part of a global community of businesses that believe in using business as a force for good.” he says.