The sustainability landscape within India's real estate sector, particularly in significant urban centers like Mumbai, Bengaluru, and Delhi NCR, is rapidly becoming a subject of heightened concern and meticulous scrutiny. Issues such as water scarcity and environmental degradation are prompting urgent dialogues among industry stakeholders. Bengaluru’s acute water crisis serves as a pointed reminder of the repercussions stemming from swift urbanization coupled with subpar water management practices, catalyzing a re-evaluation of development strategies across other major cities.
In the bustling hub of Delhi NCR, apprehensions surrounding the sustainability of its development practices and their potential ramifications on water resources are taking center stage. In response, leading real estate developers are making commendable strides to address these pressing concerns, transitioning toward sustainable construction and operational models that prioritize ecological preservation.
A shining example is DLF, recognized as India’s largest publicly traded real estate developer, which is pioneering an array of sustainable construction initiatives. DLF has effectively managed to recycle millions of liters of water daily through the implementation of zero-discharge water systems and state-of-the-art sewage treatment plants, relieving local water sources from undue stress. Furthermore, DLF’s inclusion in esteemed sustainability indices, such as the Dow Jones Sustainability Index, underscores its unwavering commitment to environmentally considerate development.
DLF is a trailblazer in sustainable real estate development across India, as reflected in its remarkable accomplishments. The only Indian real estate firm to feature in the Dow Jones Sustainability Index for the last three consecutive years, DLF has set forth a robust agenda focused on environmental, social, and governance excellence. Turning the spotlight on its flagship projects, initiatives like Camellias, heralded as India’s first LEED Platinum-certified residential building, exemplify a new benchmark for sustainable living. Additionally, DLF's The Crest stands tall as the world’s largest LEED Platinum-certified residential structure, further evidencing the company’s dedication to eco-conscious construction. Notably, DLF has set multiple records in sustainability, beginning with India’s first-ever residential building to receive LEED Platinum certification from the USGBC.
Aakash Ohri, DLF's Joint Managing Director & Chief Business Officer, expressed that, "Sustainability is deeply embedded in our operations." The company’s sewage treatment plants recycle over 14 million liters on a daily basis, contributing beneficially to horticulture, secondary water usage, and lake replenishment while minimizing dependency on groundwater. There’s a strong emphasis on maintaining greenery; DLF undertakes the transplantation of mature trees, ensuring the preservation of Gurgaon’s verdant landscape even amid infrastructural expansion. The company remains committed to establishing industry benchmarks for sustainability through innovative methodologies, engaged community action, and responsible development, all while assuring that their projects meet both current requirements and future expectations. DLF’s strategy revolves around integrating energy efficiency and sustainability throughout the design and management of its developments, positioning the company as a leader in sustainable real estate and paving the way for a greener future for the coming generations.
Conversely, Bharti Real Estate is diligently working towards creating a green supply chain by enforcing a sustainable procurement policy and engaging its suppliers. The company is also adapting recommendations from the Taskforce on Climate-related Financial Disclosures (TCFD), while assessing both physical and transitional climate risks.
Ravinder Arora, Director and Chief Operating Officer of Bharti Real Estate, stated, "Improving sustainability in the real estate industry is critical. The industry has a significant role in increasing energy efficiency, lowering carbon emissions, and conserving natural resources." He elaborated that Bharti Real Estate has established clear, measurable objectives for its ESG journey and developed a comprehensive plan to realize those goals. By adhering to responsible practices and innovative solutions, they are contributing to a greener future. Their structures are meticulously designed using sustainable materials, employing topsoil conservation techniques, maximizing energy efficiency, implementing water conservation strategies, establishing waste management practices, and adhering to rigorous air quality monitoring, ultimately minimizing environmental impacts. As they prepare to activate their Worldmark portfolio assets, the plan involves generating electricity through renewable sources by installing solar panels on upcoming properties and forming Power Purchase Agreements with leading renewable energy firms in the country. They strive to adopt green energy practices, reduce carbon emissions, and align closely with India’s ambitious Net Zero goals.
Further aligning with sustainability initiatives, Signature Global India Limited has also made notable advances. The company exhibits a proactive stance on environmental issues, having secured IGBC Gold Ratings for several of its projects and collaborating with entities like the Council on Energy, Environment, and Water (CEEW). This partnership on the ‘Cleaner Air and Better Health’ project showcases a dedicated commitment to minimizing air pollution arising from construction activities, underscoring the firm’s emphasis on sustainable development.
Lalit Aggarwal, Co-Founder and Vice Chairman of Signature Global, remarked that, "Signature Global has always taken a proactive approach to ESG." Many of their projects boast either EDGE certification or IGBC Gold ratings, affirming their devotion to environmental stewardship. Their optimization methods yield a considerable 52% reduction in water usage, employing various effective practices including low-flow fixtures, rainwater harvesting systems, and facilities for wastewater treatment and reuse. These efforts not only lessen the strain on local water resources but significantly enhance the robustness of urban water systems.
Recognizing the imperative of sustainable practices is paramount for the long-term viability of urban centers, Signature Global is wholeheartedly committed to conservation efforts, driven by a desire to safeguard natural resources like water, often regarded as the elixir of life.
The extensive initiatives spearheaded by these developers do more than just preserve water and mitigate environmental impact; they also underscore the financial advantages of sustainable methods, enhancing energy efficiency and resulting in cost savings for homeowners. Moreover, promoting self-regulation among workers and initiating behavioral modifications illustrate a holistic approach to tackling environmental challenges afflicting the construction sector.
Despite the challenges that remain, the forward-thinking actions undertaken by developers such as DLF and Signature Global represent positive progress towards securing the sustainability of India’s real estate segment, particularly in the dynamic context of Delhi NCR. The ongoing collaboration with industry stakeholders, government officials, and environmental specialists is crucial for propelling these initiatives forward, safeguarding the environmental and social well-being of urban communities.