Video ULI Asia Pacific Summit 2019 Delivering a Sustainable Future Date: October 09, 2019 00:00:15 --> 00:00:17: Delighted to take this panel forward. 00:00:17 --> 00:00:21: As you know, we're going to focus on delivering a 00:00:21 --> 00:00:22: sustainable future. 00:00:22 --> 00:00:26: I've got three eminent industry leaders with me. 00:00:26 --> 00:00:29: I won't go into CV's and details because we want 00:00:29 --> 00:00:32: to really focus on the topic that Lynette is this 00:00:32 --> 00:00:36: sustainability in charge of sustainability at capital land, 00:00:36 --> 00:00:39: and we know all know how much a large player 00:00:39 --> 00:00:41: capital land is in Asia. 00:00:44 --> 00:00:47: Tom is not Tom Owen. 00:00:47 --> 00:00:51: is the head of. 00:00:51 --> 00:00:55: Boston Properties and also is the Chairman elect of ULI 00:00:55 --> 00:00:58: and David joins us from Heinz in Australia. 00:00:58 --> 00:01:01: So three people who are very thing the leading role 00:01:01 --> 00:01:05: in in in in terms of development and sustainability. 00:01:05 --> 00:01:09: Now we are tasked with demonstrating that making a profit, 00:01:09 --> 00:01:13: making about making the world a better place the same 00:01:13 --> 00:01:15: time are not incompatible. 00:01:15 --> 00:01:18: So yes, we recognize the need to look at the 00:01:18 --> 00:01:21: bottom line or consider the bottom line. 00:01:21 --> 00:01:24: But we really believe that making the world a better 00:01:24 --> 00:01:28: place is also an important criteria and that delivering quality 00:01:28 --> 00:01:28: real estate, 00:01:28 --> 00:01:32: creating better places and enhance the quality of life are 00:01:32 --> 00:01:33: the secrets. 00:01:33 --> 00:01:36: If you like to a sustainable and profitable real estate 00:01:36 --> 00:01:36: business, 00:01:36 --> 00:01:39: and indeed, that's what you'll eye is all about. 00:01:39 --> 00:01:42: So what? I've asked each of the panelists to do 00:01:42 --> 00:01:45: is to think about how they address these challenges within 00:01:45 --> 00:01:49: their business and personally and from their own experience to 1 00:01:49 --> 00:01:52: share with us how it's possible to be aspirational. 00:01:52 --> 00:01:56: It's at the same time to achieve commercial success. 00:01:56 --> 00:01:59: What are the measures that they describe success and how 00:01:59 --> 00:02:02: is this aligned with the objectives of your lie and 00:02:02 --> 00:02:04: how do you make we we we saw on the 00:02:04 --> 00:02:09: on the questionnaire and answers questions how important community is. 00:02:09 --> 00:02:12: So how do you respond to impact on the community? 00:02:12 --> 00:02:14: And finally, how do we have in quality of life 00:02:15 --> 00:02:17: and resilience into your priorities? 00:02:17 --> 00:02:19: So what I'd like each of the panelists do is 00:02:19 --> 00:02:22: maybe spend 5 to 8 minutes if I may say, 00:02:22 --> 00:02:24: put it this way, laying out your store. 00:02:24 --> 00:02:27: Explain how you meet these challenges. 00:02:27 --> 00:02:30: And at the same and how you achieve a successful 00:02:30 --> 00:02:31: bottom line yesterday, 00:02:31 --> 00:02:34: same same time addressed sustainability issues, 00:02:34 --> 00:02:35: so maybe should we go? 00:02:35 --> 00:02:37: Ladies first Lynette sure please, 00:02:37 --> 00:02:41: thanks. Thanks Nick. And good morning ladies and gentlemen. 00:02:41 --> 00:02:42: So happy to be here. 00:02:42 --> 00:02:44: First of all, thank you. 00:02:44 --> 00:02:45: This is glass, not plastic. 00:02:45 --> 00:02:49: Thank you. Good, well done you are. 00:02:49 --> 00:02:53: I thought I was just giving a brief introduction of 00:02:53 --> 00:02:57: CapitaLand in case those four in Galt delegates may not 00:02:57 --> 00:02:58: know who capital N is, 00:02:58 --> 00:03:03: it's the largest real estate company listed on the Singapore 00:03:03 --> 00:03:06: Exchange and we are in the midst of a closing 00:03:06 --> 00:03:10: our merger with Ascendas and that will increase 00:03:10 --> 00:03:13: our AUM to approximately 90 billion dollars. 00:03:13 --> 00:03:17: We have a global footprint spread in our largest coverages 00:03:17 --> 00:03:18: in Singapore, 00:03:18 --> 00:03:21: China and India and expanding in Australia. 00:03:21 --> 00:03:23: I mean the rest of the world, 00:03:23 --> 00:03:25: basically. 00:03:25 --> 00:03:28: So we are actually I'm very happy to be here 00:03:28 --> 00:03:31: to discuss this topic because I think the keyword is 00:03:31 --> 00:03:32: sustainable, 00:03:32 --> 00:03:37: sustainable future. We have been looking at this topic for 00:03:37 --> 00:03:38: awhile. 2 00:03:38 --> 00:03:39: As you know it is. 00:03:39 --> 00:03:42: I don't think it's aspirational anymore. 00:03:42 --> 00:03:46: I think today when we talk about sustainability, 00:03:46 --> 00:03:49: we are looking at the world and how it's changing. 00:03:49 --> 00:03:52: We are confronted with climate change, 00:03:52 --> 00:03:54: alot of well, global warming, 00:03:54 --> 00:03:59: flash floods, rising sea levels in Singapore especially within the 00:03:59 --> 00:04:01: for the past 13 years. 00:04:01 --> 00:04:05: Out of the 15 years we have been experiencing increasing. 00:04:05 --> 00:04:10: Weather and is the is we've experienced the warmest weather 00:04:10 --> 00:04:12: in on record since 1929. 00:04:12 --> 00:04:16: We don't feel it in Singapore because our buildings are 00:04:16 --> 00:04:18: just too cold. 00:04:18 --> 00:04:20: If you know that. 00:04:20 --> 00:04:24: And also rising sea levels is affecting Singapore in a 00:04:24 --> 00:04:25: very big way. 00:04:25 --> 00:04:30: The government is already taking various actions on the eastern 00:04:30 --> 00:04:31: coast of Singapore. 00:04:31 --> 00:04:35: All the new developments have to be raised to at 00:04:35 --> 00:04:39: least 1 meter high than you Changi Airport Terminal that 00:04:39 --> 00:04:43: the Singapore Government is building will stand on land at 00:04:43 --> 00:04:45: 5.5 meters above the sea level. 00:04:45 --> 00:04:49: So this is what the we are preparing for. 00:04:49 --> 00:04:52: So I I guess there are a lot of risks 00:04:52 --> 00:04:52: that. 00:04:52 --> 00:04:55: That we're looking at, but I'm not here to talk 00:04:55 --> 00:04:58: about doom and gloom talking about opportunities. 00:04:58 --> 00:05:01: Otherwise I think everyone will leave the room. 00:05:01 --> 00:05:06: If you look at the the what the total investable 00:05:06 --> 00:05:09: capital in the universe is today, 00:05:09 --> 00:05:16: the International Finance Corporation, which is part of the World 00:05:16 --> 00:05:16: Bank, 00:05:16 --> 00:05:22: has made an estimate that about 20 trillion US dollars 00:05:22 --> 00:05:23: is 20 trillion. 00:05:23 --> 00:05:29: US dollars will be invested in Green Lake related projects 00:05:29 --> 00:05:32: in India and the Asia Pacific by 2030. 00:05:32 --> 00:05:37: 2030 is the timeline that the United Nations 993 countries 00:05:37 --> 00:05:41: of the United Nations have come together to make a 00:05:41 --> 00:05:46: pledge that by 2030 they have to achieve 17 sustainable 3 00:05:46 --> 00:05:50: development goals. In climate, change is one of them, 00:05:50 --> 00:05:54: so there's going to be a lot of capital invested 00:05:54 --> 00:05:55: in this area. 00:05:55 --> 00:06:00: In green related projects, and the banks are already accelerating 00:06:00 --> 00:06:01: that you see, 00:06:01 --> 00:06:03: banks coming up with green financing.