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Lodha's 2023 Accolades Showcase a Commitment to Sustainable Development

By Lodha

In the world of Indian real estate developers, Lodha is a name that represents quality and innovation. We have had the privilege of being recognised several times over the years for our exceptional projects and contributions to the country. Apart from our pioneering innovations in the field of real estate, as one of the top builders in Mumbai and India, prioritising sustainability and ecological health is a cornerstone of our ethos. Out of all the real estate companies in Mumbai, at Lodha, we have made strident efforts to reduce our reliability on finite natural resources, conserve energy and water, and design structures that preserve and celebrate the surrounding environment. Our endeavours have not only resulted in environment-friendly operations but have also garnered widespread acclaim. Look at the awards/certifications we have received for our commitment towards sustainable real estate development and safeguarding the health of our planet.

Sustainability Awards That Establish Lodha as India’s Top Real Estate Developer

As we celebrate World Environment Day on the 5th of June, here is a glance at how Lodha has contributed towards protecting the environment by adopting sustainable practices.

GRESB Development Benchmark 2023

Lodha secured the top position in Asia among residential real estate developers in the esteemed GRESB Development Benchmark 2023 with a score of 100/100. The esteemed benchmark’s acknowledgement serves as testimony to Lodha’s efforts towards adopting sustainable practices and environment-friendly operations. In the Standing Investments Benchmark, it ranked 8th in Asia in the category of Diversified - Office/ Retail with a score of 90 out of 100. Lodha has also received the esteemed recognition of GRESB Global Sector Leader in Residential Development for premium Lodha properties in Mumbai, Pune, and other major cities in India.

GRESB assessments evaluate a real estate company’s management, performance and development in the broader context of ESG (Environmental, Social and Governance) pillars. At Lodha, our long-term vision rests on restructuring what urban development means to Indians and helping the country transition to a more sustainable Net Zero landscape by 2070. With a positive social and environmental impact on our horizons, GRESB's recognition only motivates us to dedicate ourselves to our ESG principles.

S&P Corporate Sustainability Assessments

The S&P Corporate Sustainability Assessment comprises an overview of more than 13,000 companies globally and undertakes an evaluation of a company’s sustainability practices. The benchmark allows investors and executives to gauge a company’s performance in terms of ESG pillars. It also assesses a company’s ability to adopt sustainable practices while maintaining commercial viability. We are delighted to announce our inclusion in the S&P Global Sustainability Yearbook 2024. As the top-performing Indian company in the S&P Global Corporate Sustainability Assessment (CSA) 2023, we achieved the remarkable 3rd position globally among 266 companies.

Net-Zero Targets Validated by Science Based Targets initiative (SBTi')

Through retaining its position as one of the leading Indian property developers, Lodha, as one of the top builders in India is the first real estate company in India to have targets validated by the Science Based Targets initiative (SBTi') - a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practices in science-based target setting and independently assesses companies� targets.

Overall net-zero target: Lodha has committed to reach net-zero GHG emissions across the value chain by FY2050.

IGBC Environmental Stewardship

Indian Green Building Council (IGBC) have also recognised Lodha builders for their environmental stewardship. We received the 10th CII - Indian Green Building Council (IGBC) Green Champion Award for being the ‘Developer Leading the Green Homes Movement in India�. Our green-certified footprint crossed 50 million sq. ft. in FY24. Lodha Xperia Mall, Palava also achieved the ‘IGBC Performance Challenge for Green Built Environment Award. Lodha’s Mumbai and other projects have been constructed while conserving water and energy, and limiting waste, and have become paragons of sustainability within the real estate sector.

The awards garnered by Lodha in 2023 exemplify the company's dedication to real estate sustainability, evident in every facet of its operations. Our future endeavours include achieving carbon neutrality by 2050, and we have already made considerable headway. In March 2024, we reached a significant milestone in our journey towards becoming a net-zero company by 2050: our company achieved carbon neutrality in operations (Scope 1 and 2 emissions). With our renewable energy share on the rise and our attempts to decarbonise our supply chain underway, we hope to create the world’s finest developments while prioritising the planet’s well-being as we go forward. For each of our projects in terms of quality, luxury and environmental responsibility, Lodha has set new benchmarks for the best builders in Mumbai concerning sustainability.