Yahoo Finance Sedar Properties achieves B Corp certification
One of Sedar Properties' developments in New Zealand (Picture: Sedar Properties)
SINGAPORE (EDGEPROP) - Sedar Properties has achieved B Corp certification, making it the 35th company in Singapore to do so and one of a handful of property developers in the region to achieve the certification.
The company, which was formerly listed on the Singapore Exchange as Global Yellow Pages and privatised last year, has an industrial building in Toa Payoh, as well as residential and retail developments in New Zealand spanning over 25 ha.
The B Corp certification is granted by non-profit organisation B Lab. According to its website, certified B Corporations, or B Corps, are companies that “meet high standards of social and environmental performance, transparency, and accountability.” There are currently over 7,500 certified B Corps in more than 80 countries around the world.
Stanley Tan, CEO of Sedar Properties, says the company is committed to climate neutrality and implementing sustainability programmes that address its environmental and social 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,” Tan remarks in a Nov 1 press release.
He continues: “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.”
Tan adds that the company works closely with sister company Rumah Investments, which invests in early-stage sustainability solutions for the built environment that can be deployed in its developments. It also carries out recycling programmes for construction waste and recently introduced a programme at one of its retail properties to send food scraps to a composting facility.
“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. He adds that for home buyers, B Corp certification may be another factor to consider. “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."
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