CapitaLand Investment (CLI), a Singapore-based global real estate investment manager, has signed an MoU with the Confederation of Indian Industry (CII) – Indian Green Building Council (IGBC). The agreement, CLI said, is aimed at furthering the country’s movement towards achieving ‘Net Zero’ carbon emissions.
According to a press release, CapitaLand Investment’s ongoing International Tech Park Chennai (ITPC) at Chennai’s Pallavaram-Thoraipakkam Radial Road will be the first business park in India certified by IGBC to be ‘net zero’ at the design stage.
The global real estate investment manager currently has over 20 business and IT parks, industrial, lodging and logistics properties across Bengaluru, Chennai, Goa, Gurgaon, Hyderabad, Mumbai and Pune.
Net zero concept
Under the partnership, IGBC will build resource capabilities by training CapitaLand 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.
“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,” the release quoted Gauri Shankar Nagabhushanam, CEO, India Business Parks, CapitaLand Investment, as saying.
In India, CLI Business Parks currently has 39 green buildings within its properties. Some of its green 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.