Representational Pic
Brookfield India Real Estate Trust (BIRET) has strengthened its position as a leader in sustainable real estate, receiving the title of Global Sector Leader for Sustainable Mixed-use Development by GRESB. In the latest assessment, BIRET earned a perfect score of 100 out of 100 for its development projects, surpassing the global average by 14%. The company's operational buildings also achieved an impressive score of 92 out of 100, reflecting its ongoing commitment to environmental responsibility and high standards.
According to ANI, BIRET has now been awarded a 5-star GRESB rating for the third consecutive year, a significant accomplishment that highlights its dedication to excellence and sustainability. This recognition underscores the Trust's leadership in integrating sustainable practices across its operations.
As part of its long-term sustainability goals, BIRET aims to transition its entire portfolio to renewable energy by 2027. The company's Environmental, Social, and Governance (ESG) strategy includes various initiatives aimed at reducing its environmental footprint while also fostering strong social responsibility and governance frameworks.
Alok Aggarwal, Chief Executive Officer and Managing Director of Brookfield India Real Estate Trust, expressed his pride in the achievement: "Being recognised as the Global Sector Leader in Mixed-use Development and maintaining our 5-star GRESB rating for three years running demonstrates our unwavering commitment to sustainability. This milestone reinforces that responsible and sustainable practices can align seamlessly with business success. We remain committed to achieving net-zero emissions by 2040 or sooner, providing long-term value for all stakeholders."
ALSO READ
Family businesses indispensable for India to become USD 5 trillion economy: Jitendra Singh
Two held for cheating businessman of Rs 18 crore by illegally selling CIDCO land
Navi Mumbai: 2 sell CIDCO land to businessman illegally, dupe him of Rs 18 crore
India's GDP growth slows to 5.4% in Q2 FY25, annual growth may dip below 6.5%
‘Drunk’ businessman crashes SUV into two police barricades
Sebastian Roussotte, CEO of GRESB, highlighted the importance of this recognition. "When we consider real progress towards a sustainable future, we look for tangible indicators. The continued growth of the GRESB Benchmark and the commitment shown by its participants this year are clear signs that the real estate industry is taking meaningful steps towards a greener future," he noted.
As per ANI reports, GRESB is an internationally recognised benchmark that evaluates the ESG (Environmental, Social, and Governance) performance of assets valued at $6.9 trillion. GRESB Sector Leaders are the top performers within their sectors, regions, and ownership categories across GRESB Assessments. This year's recognition emphasises the efforts of entities that have achieved the highest scores, with others coming within one point of the top score also being acknowledged.
Brookfield India REIT is the country's only 100% institutionally managed office REIT, overseeing 10 Grade A assets located in key gateway cities, including Delhi, Mumbai, Gurugram, Noida, and Kolkata. Its portfolio encompasses a total leasable area of 28.8 million square feet, comprising 24.2 million square feet of operating area, 0.6 million square feet under construction, and a further 4.0 million square feet of potential development.
Brookfield India REIT is sponsored by an affiliate of Brookfield, a leading global alternative asset manager with over US$1 trillion of assets under management, spread across real estate, infrastructure, renewable energy, private equity, and credit strategies in more than 30 countries. The quality of Brookfield India REIT's assets, along with its sponsor group's extensive expertise in managing and operating properties, makes it a preferred landlord for tenants.
This recognition reinforces Brookfield India Real Estate Trust's leadership in combining sustainable practices with operational excellence, setting a benchmark in the real estate sector.
(With inputs from ANI)
