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The new real estate metric: Return on Social Responsibility

The new real estate metric: Return on Social Responsibility

In the decades since the turn of the century, if one thought process has become the all-pervading mantra for the business community, it is that the world does not exist in isolation. If we must preserve our planet for the future generations, industry will have to treat itself as part of the larger social and ecological ecosystem, and not work in isolation with monetary gains as the only motive and end goal. The World Economic Forum Global Risk Report 2021 features extreme weather, climate action failure, human environmental damage, infectious diseases, and biodiversity loss as top risks in terms of likelihood. All these risks are interlinked and complex and requires a highly collaborative approach from each of us who make a community.

It is also no secret that the early adopters in the corporate world, who have taken a conscious view of their business in the larger context of the socio-geographical ecosystem in which they exist, have actually ended up reaping superior returns on investment, better customer and stakeholder respect and sustainable operations, with a more tuned-in workforce. Moreover, there have been incidental benefits of better designed, environment friendly workspaces, which eventually almost always leads to lower operating and maintenance costs, longer life of the underlying assets, thereby directly contributing to the bottom-line.

IndoSpace has been at the forefront of this change, and for us, the results have been an overwhelming vindication of our efforts at being an ESG compliant organization. To us, ESG compliance goes beyond a tick-in-the-box in the adherence matrix; instead it has become a part of our DNA and it encompasses every walk of our business, right from:

  • Human capital development
  • Vendor selection and evaluation
  • Robust governance systems
  • Sustainable building certifications
  • Focus on renewable energy
  • Employee health, safety and well being
  • Focused CSR initiatives within the communities we operate in.

IndoSpace Logistics Park Luhari near Delhi NCR is the first logistics park in India to receive a Platinum Certification by the Indian Green Building Council (IGBC), under the IGBC Logistics Parks and Warehousing rating system. We also achieved more than 40% savings on energy and water, at several parks. This has led to securing the esteemed EDGE certification from GBCI (Green Business Certification Inc.) for most of our projects. IndoSpace has also conducted GreenHouse Gas (GHG) Footprint studies for its parks to take measures to further decarbonize our overall footprint. We will be focusing in further enhancements on renewable portfolios through the installation of solar panels. In addition, we are also working towards acquiring more green building certifications across all our parks. IndoSpace has pledged to continue taking an overall life cycle approach to deliver sustained economic, social, and environmental benefits.

IndoSpace Logistics Park Luhari near Delhi NCR
IndoSpace Logistics Park Luhari near Delhi NCR

Finally, it cannot be reiterated enough that only as a community can we grow; only together can we beat the odds that face our modern world. We, at IndoSpace, are committed to lead from the front! We look forward to cooperating with our stakeholders and social ecosystems to make businesses ESG compliant.

Authored by
Rajesh Jaggi
Vice Chairman, Real Estate – The Everstone Group
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