ESG

 

Increasing demands of sustainable housing, buildings complying to environmental, social and governance (ESG) standards and call for net-zero developments have led to realtors making environment their focal point.

The construction and development sectors combined are liable for 36% for world’s final energy consumption and about 40% of direct and indirect CO2 emission. The Real Estate sector is accountable for 24% of India’s CO2 emission. Various reports have showcased construction and buildings in India are liable for 40% of the use of energy, 30% of raw materials, 20% of water consumption, 20% of land use and generate 30% of solid waste and 20% of water effluents.

To combat this, developers like DLF, Godrej Properties, Prestige Estates, Macrotech and Sobha are advancing to reduce energy and water consumption. Mahindra Lifespace Developers announced its applaudable commitment to constructing only net-zero buildings from 2030.

As per reports published by CBRE, a real estate services company, market leader DLF’s rental sites had been zero water discharge since 2018. Godrej Properties is aiming towards decreasing their waste-to-land footprint while already being a water efficient and carbon neutral company. Macrotech has accomplished a commendable feat of 100% water recycling and is advancing to carbon neutrality by 2035. As per the spokesperson of Mahindra Luminare Lifespace, the company has a 100% green portfolio.

For investors, ESG compliance has become an indispensable factor. Such buildings will yield to better returns is becoming a common idea among the homebuyers as said by Mr, Aditya Kushwaha, chief executive officer of Axis Corp.

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