BusinessWire India
Mumbai (Maharashtra) [India], December 12: Lodha, India's leading real estate developer, has achieved recognition for its sustainable development initiatives by multiple reputed global sustainability benchmarks. This highlights Lodha's commitment to sustainable urbanisation and its transformative programs including the company's transition to operational carbon neutrality (Scope 1 and 2), setting ambitious 1.5°C-aligned targets validated by the Science-Based Targets initiative (SBTi), and driving innovations through the Lodha Net Zero Urban Accelerator.
Commenting on the recognition, Aun Abdullah, Head of ESG, Lodha, said, "Global recognitions reaffirm our commitment to sustainability and decarbonization. We aim to lead the real estate sector's transition to net zero through our climate action framework and the Net Zero Urban Accelerator with RMI. Our work demonstrates that growth decoupled from emissions is possible, providing a blueprint for sustainable urbanization in India."
Comprehensive Approach to Climate Action
Lodha's sustainable urbanisation programs are built around the core concepts of resilience and decarbonisation, spread across focus areas including climate resilience, low carbon materials, energy efficiency and transition. At the heart of this strategy is Palava, a thriving city-scale development that also acts as a "live laboratory" for testing innovative sustainability solutions. Successful ideas and solutions are scaled and shared with stakeholders, furthering Lodha's leadership in advancing India's 2070 net zero emissions target.
Lodha Shines in Top Three Global Sustainability Benchmarks
1. Global Real Estate Sustainability Benchmark 2024 (GRESB)
* 1st in Asia with a score of 100/100 in the Residential Development Benchmark category
* 1st in India and 5th in Asia with a score of 94/100 in the Standing Investments category
GRESB, or Global Real Estate Sustainability Benchmark, is an organization that provides sustainability benchmarks and ESG (environmental, social, and governance) assessments for real estate and infrastructure. They are globally recognized and driven by investors.
2. S&P Global 2024 Corporate Sustainability Assessment
* 6th highest score out of ~500 Global Real Estate Development companies; 1st in India*
The S&P Global ESG Score is a relative score measuring a company's performance on and management of ESG risks, opportunities, and impacts compared to their peers within the same industry classification.
*As of 26th November, 2024
3. Urban Benchmark published by the World Benchmarking Alliance
* 1st among 84 in the real estate industry globally and 3rd among 300 companies
The World Benchmarking Alliance is a non-profit organization that assesses and ranks the world's most influential companies on their contribution to the Sustainable Development Goals. None of our peers are in the top 10.
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