Our Digital Sustainability Report is designed to be eco-friendly through the implementation of sustainable web design principles.
We leverage advanced programming techniques to ensure that our digital presence is both efficient and environmentally conscious.
Dear Readers,
I am pleased to present our Sustainability Report for FY 2023-24, highlighting our continued commitment to building a sustainable business in India, aligned with our global commitment to environmental, social and governance (ESG) excellence. We believe that sustainable growth is not just a corporate responsibility but a strategic imperative, essential for long-term success.
Since the time we established our presence, we have consistently focused on embedding sustainable practices across our operations. Our spread across gateway cities with operational depth presents significant opportunities for innovation and leadership in sustainable development. In the past year, we have set ambitious targets to reduce greenhouse gas emissions through multiple decarbonization levers such as enhanced use of renewable energy, which we have committed to achieve 100% across the portfolio by 2027 as a step towards our overall target of Net zero by 2040 or sooner. I am proud to share that we have achieved a reduction in (Scope 1/Scope 2) GHG emissions intensity by 74% through cleaner energy sources and resource-efficient technologies. We are committed to establishing Science-Based Targets for our portfolio and have formally submitted these targets for our REIT portfolio to the Science-Based Targets Initiative (SBTi) for validation. We have completed embodied carbon assessments for our ongoing projects and refined our development standards to optimize sustainability. This includes implementing both active and passive design strategies, as well as the judicious use of materials like cement and steel to minimize environmental impact.
At Brookfield India REIT we recognize that sustainability extends beyond environmental impact; it encompasses the well-being of our people and the communities we serve. This year, we have made significant strides in fostering a diverse and inclusive workplace where every employee can thrive. Our policies prioritize well-being and work-life balance, positioning us as an employer of choice. We are equally committed to empowering local communities through education, healthcare, and economic opportunities, creating shared value that contributes to a sustainable society. We proudly launched the “Earth Forward – ESG Dialogues”, a thought-provoking series in collaboration with The Economic Times. This initiative brings key changemakers from across India and our esteemed occupiers, aiming to elevate ESG conversations beyond the boardroom and into everyday lives, inspiring meaningful action and awareness. Our campuses proudly hosted Qriosity, India’s largest corporate campus quiz, which brought together over 2,000 participants from more than 450 organizations. The event culminated in an exciting grand finale at our Candor TechSpace campus in Sector 48, Gurugram. These initiatives not only foster connections among occupiers and societal changemakers but also reinforce our commitment to being the partner of choice for businesses at all stages of growth, from start-up to scale-up. Together, we are building a more inclusive future that benefits both our employees and the communities we serve.
While we celebrate our progress, we acknowledge the ongoing challenges posed by climate risks and evolving societal expectations. We are committed to reducing our environmental footprint further and scaling up our social impact. Our goals include achieving Net Zero carbon neutrality by 2040 and ensuring all buildings are fully recyclable. Collaboration is key to achieving these objectives. We will continue working closely with partners across industries to drive positive change throughout our value chain. Transparency remains a cornerstone of our sustainability efforts as we commit to regular reporting on our progress.
We have initiated a multi-year plan to transform our assets into fully digital-ready ecosystems, enhancing operational efficiency and tenant experience. This journey begins with real-time displays of Indoor Air Quality (IAQ) across all our buildings in India, ensuring transparency and wellness. We are implementing automated meter readings for utilities, integrated dashboard analytics for actionable insights, and piloting advanced technologies like smart cameras and occupancy sensors. These innovations aim to optimize energy usage, enhance safety and improve space utilization, reinforcing our commitment to leveraging technology for smarter, sustainable spaces.
We are honoured to be recognized as Green Champions by the Indian Green Building Council (IGBC) for our role in promoting the Net Zero movement in India. This year alone, we received over 30 awards, recognitions and certifications for our sustainability initiatives. We believe that innovation is vital in addressing global challenges such as climate change and social inequality. This year, our Innovation “Ideathon” garnered over 240 entries from our team members, reaffirming its position as a pivotal employee engagement platform that encourages “looking within.” Our goal is to empower teams to push past their thought barriers, fostering a culture of ideation, innovation, and workplace transformation.
As we move forward, sustainability will remain central to our business strategy. The challenges ahead are significant, but so are the opportunities they present. By prioritizing sustainability, we aim not only to create long-term value for our stakeholders but also to contribute positively to the planet and society.
I extend my heartfelt gratitude to all our employees, partners, and stakeholders whose dedication drives our sustainability initiatives forward. Together, we can forge a path toward a more sustainable and equitable future for all. Let us continue to collaborate and inspire one another as we build a better world for generations to come.
Best Regards,
Managing Director and CEO Brookprop Management Services Private Limited (manager of Brookfield India Real Estate Trust)
Candor TechSpace, Sector 48, Gurugram
