International Tech Park Chennai – Radial Road is first business park in India certified by IGBC to be Net Zero at design stage
CapitaLand Investment (CLI), a leading global real estate investment manager (REIM), signed a Memorandum of Understanding (MoU) with the Confederation of Indian Industry (CII) – Indian Green Building Council (IGBC) to further the Net Zero movement in the country.
IGBC and CLI were represented by Mr. Gurmit Singh Arora, Chairman, IGBC and Gauri Shankar Nagabhushanam, CEO – India Business Parks, CLI, who signed the MoU at the 21st CII-IGBC Green Building Congress held in Hyderabad. Under the partnership, IGBC will build resource capabilities by training CLI’s professionals in implementing Net Zero concepts at its properties across India and jointly work towards spreading awareness among industry stakeholders. IGBC will also facilitate CapitaLand assets to achieve Net Zero results in energy and water usage, waste management, and carbon emissions.
Leading the agenda for sustainability, IGBC has recognized CLI’s upcoming International Tech Park Chennai – Radial Road (ITPC-RR) as the first Net Zero business park in India. The provisional Net Zero certification for ITPC-RR which is under development extends across parameters including energy efficiency, water conservation and waste management.
Gauri Shankar Nagabhushanam said: “Sustainability is a core tenet of CapitaLand Investment’s business, and we integrate it into every stage of our real estate life cycle, from investment to design, development and operations. Our Net Zero commitment in India augments CLI’s commitment to achieving Net Zero emissions by 2050. Together with CII-IGBC, we will strive for our assets to be Net Zero-certified and advance the Net Zero movement in the real estate industry in India.”
Dr C Velan, City Head, Business Parks Chennai and Head, India Property Management, CLI said: “Innovations in the development process at ITPC-RR to enhance water and energy efficiencies and waste management has enabled us to achieve the Net Zero certification by IGBC. We have also collaborated with like-minded partners to make the Net Zero certification possible, and we will continue our Net Zero commitment to roll the certification out to our other assets in the country.”
CLI’s commitment to sustainability
Sustainability is at the core of CLI’s business. In May 2022, CLI elevated its commitment to sustainability by pledging to achieve Net Zero emissions by 2050, which builds on existing sustainability targets outlined in CapitaLand’s 2030 Sustainability Master Plan unveiled in October 2020. This includes accelerating the transition to a low-carbon business, improving water conservation and resilience, and enabling a circular economy.
In India, CLI Business Parks currently has 39 green buildings within its properties. CLI has adopted various measures to reduce its carbon footprint. The initiatives include the use of on-site and off-site renewable energy, high-efficient water-cooled chiller systems, chillers using low global warming potential refrigerant, on-site deployment of solar panels, automated waste segregation system for waste recovery and on-site wastewater recycling facilities. As part of its digital initiatives, CLI has also set up an Internet of Things-driven intelligent building platform that improves energy efficiency in its properties through real-time data analysis and performance monitoring.
CapitaLand has been consistently recognized for its global sustainability leadership, including being part of prestigious rankings such as the ‘Global 100 Most Sustainable Corporations in the World Index’ and ‘Dow Jones Sustainability World Index’ for 10 years, as well as ‘GRESB’ whereby CapitaLand has been consistently ranked among the top 20% of the sustainability benchmark since 2011.
In India, CapitaLand has a strong presence with a portfolio of over 20 business and IT parks, industrial, lodging and logistics properties across seven cities – Bangalore, Chennai, Goa, Gurgaon, Hyderabad, Mumbai and Pune. The Group is a key contributor to India’s IT industry development, having pioneered the renowned International Tech Park Bangalore in 1994. CapitaLand has deep expertise in India across the full real estate value chain – from owning, developing and managing properties to fund management through CapitaLand India Trust and private funds.
