- Earns the BSC Sword of Honour across 12 commercial projects
- Embassy REIT recognised as the world’s largest ‘USGBC LEED Platinum v4.1 O+M’ certified office portfolio; receives a 5-star rating by GRESB; recognised by the prestigious Golden Peacock Awards
Mumbai|16th January, 2023: Embassy Group, one of India’s leading real estate developers, has been recognised for its ESG leadership after receiving several industry-standard awards that acknowledged the organisation’s consistent contributions towards upholding excellence in its environmental, social, and governance (ESG) standards. Embassy Group was felicitated by bodies including GRESB, LEED, the British Safety Council, and the Golden Peacock Awards for initiatives undertaken around the energy management and corporate governance standards adopted and followed by Embassy Office Parks REIT (Embassy REIT) and Embassy Services Private Limited (ESPL).
Embassy Group, via Embassy Property Development Private Limited (EPDPL), is a co-sponsor of Embassy REIT.
Aditya Virwani, COO – Embassy Group, said, “We have transformed the real estate industry with our future-ready properties, as well as helped other organisations prioritise their real estate operations in accordance with UN Sustainable Development Goals. We anticipate that investments in sustainable infrastructure, biodiversity, and diversity & inclusion will increase to meet the evolving needs of investors, tenants, clients, employees, and other stakeholders. The recognition of our ESG practices by these leading certifications is a testament to our industry-defining programs.”
Pradeep Lala, MD & CEO – Embassy Services, added, “We are extremely proud that our focus on operational excellence has led to consistent performance over the years, ensuring that our workplaces are the greenest and safest in the country. 2022 was a banner year for us, particularly expanding on the critical role the integrated facilities management sector can play in helping the real estate industry and India transition to a low carbon economy. For example, our ESGRO framework by Embassy Services will help our clients pursue their ESG goals with a strategic approach.”
Awards conferred to Embassy Group in recognition of its ESG actions:
- The prestigious British Safety Council (BSC) Sword of Honour was conferred to both Embassy Services Private Limited (ESPL) and Embassy REIT for upholding the highest standards of Occupational Health and Safety across 12 business parks in India. ESPL and Embassy REIT also received 5-star ratings for Occupational Health and Safety from BSC in 2022. This was a prerequisite for receiving the Sword of Honour accolade.
- Embassy REIT achieved the distinction of operating and maintaining the world’s largest ‘USGBC LEED Platinum v4.1 O+M’ certified office portfolio by Green Business Certification Inc. Embassy REIT received this certification for all 77 operational buildings spread across 12 office parks in Bangalore, Mumbai, Pune, and NCR.*
- Embassy REIT was awarded a 5-star rating by GRESB, the leading global ESG standard for real estate and infrastructure investments, for its entire 42.8 msf operational and development portfolio. Embassy REIT’s development portfolio was also ranked #1 in the Asia Office sector, a milestone for an Indian REIT.
- Embassy REIT was also the recipient of the prestigious ‘Golden Peacock Award for Sustainability’ for the year 2021, as a recognition of its leading initiatives in the Environmental, Social and Governance (‘ESG’) field. Embassy REIT is the only Indian real estate entity to receive this recognition in the past six years, reinforcing its commitment to be a sustainability leader for the sector.
ESG, considered a key non-financial KPI for companies, is used by investors and consumers to evaluate a company’s attitude towards environmental, social, and governance responsibilities. Over the last 10 years, Embassy Group has made significant contributions towards ensuring sustainability and ethical impact across all business operations.
As part of its ESG strategy, Embassy REIT announced its commitment to achieve 75% renewable energy usage across its properties by FY2025. An existing 100 MW solar plant supplying electricity to its Bangalore properties as well as an ongoing project to install solar rooftop panels with a capacity of over 20 MW across its pan-India asset base are central to achieving this target. Embassy REIT has also implemented several initiatives to reduce energy and water consumption, as well as promote waste recycling in its parks.
*GBCI is India’s leading authority on sustainability in building design, construction, and operations and is a part of the U.S. Green Building Council (‘USGBC’), which provides independent oversight of professional credentialing and project certification under the Leadership in Energy and Environmental Design (‘LEED’) green building rating system.
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