NEW DELHI (India CSR): Oberoi Realty, a leader in premium real estate, has reaffirmed its commitment to sustainable development with the release of its second annual Environmental, Social, and Governance (ESG) report. This comprehensive report underscores the company’s dedication to purpose-driven sustainability, emphasizing a holistic approach by integrating ESG principles into its business strategy.
Key Highlights and Milestones
The ESG report showcases several key highlights and milestones that underline Oberoi Realty’s commitment to sustainability:
- Enhancing ESG Governance: Oberoi Realty has established a dedicated ESG Board Committee led by the Chairman & Managing Director, alongside an ESG Steering Committee comprising Senior Executives and Department Heads. This governance structure spearheads and oversees key sustainability functions.
- Commitment to Long-term Sustainability Goals: The company is committed to long-term goals aimed at creating a positive impact on society and the environment while ensuring responsible business practices.
- Green Building Certification: Oberoi Realty is committed to green building design, with its most recent projects pre-certified as a minimum gold standard.
- Investing in Sustainable Practices: The company has implemented water-efficient fittings, energy-efficient systems, on-site waste management solutions, and increased energy consumption from renewable sources.
- Employee-Centric Approach: Recognized as an ‘Employer of Choice,’ Oberoi Realty boasts robust employee well-being programs.
Long-Term Commitments for FY 2023-24
Oberoi Realty has adopted several key long-term commitments for the fiscal year 2023-24, reflecting its dedication to continuous improvement:
- Improved Yearly Performance in Global Sustainability Indices: The company aims to enhance its performance in global sustainability indices.
- Increased Focus on Diversity, Equity, and Inclusion: With a target of achieving 30% diversity by 2030, Oberoi Realty is committed to fostering an inclusive work environment.
- Commitment to Achieving Water Positivity by 2030: The company aims to become water positive, ensuring sustainable water management practices.
- Striving for Net Zero Waste to Landfill by 2030: Oberoi Realty is working towards eliminating waste sent to landfills.
- Targeting Net Zero Emissions for Direct Operations by 2040: The company aims to achieve net zero emissions for its direct operations (Scope 1 & 2) by 2040.
Leadership Perspectives
Vikas Oberoi, Chairman and Managing Director of Oberoi Realty, stated, “At Oberoi Realty, we are committed to innovation and human-centric design, enhancing urban living and adding value to our residential offerings. Our dedication to sustainable development drives us to implement eco-friendly building practices and promote environmentally responsible business operations. Our newly published ESG report outlines our targets and goals, further solidifying our commitment to sustainability and our promise to stakeholders for long-term value creation.”
Ayashkanta Rout, Head of Sustainability and CSR at Oberoi Realty Ltd., added, “Our second ESG report marks a significant milestone in our reporting journey towards building a ‘sustainable tomorrow’. The establishment of a dedicated Board-level ESG committee, focus on enhancing our social as well as environmental practices, and implementation of resource-efficient processes in our operations demonstrate our commitment to measurable progress across all six pillars – People, Product, Planet, Prosperity, Practices, and Partnerships. We are confident that these efforts will not only benefit the environment and society but also create long-term value for all our stakeholders.”
A Roadmap for the Future
Oberoi Realty remains committed to pushing the boundaries of sustainable construction, ensuring a greener future for urban development. The company’s ESG report serves as a roadmap for its ongoing efforts in creating value for all stakeholders while minimizing environmental impact.
Reporting Period
This report further demonstrates Oberoi Realty’s commitment to transparent and accountable communication. The reporting period for this report is from 1st April 2023 to 31st March 2024.
Materiality Approach
The report details Oberoi Realty’s management approach to identified material issues relevant to the business and its potential impact on sustainable value creation. Fourteen material issues have been identified and assessed through an inward and outward lens. These issues have been prioritized based on their ability to impact the business and the potential impact the business can have on the environment and society through the management of these issues. The material issues have been identified through a consultative process with key internal and external stakeholders.
(India CSR)
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