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Embassy Office Parks REIT has committed more than Rs 300 crores to its ESG program for its pan-India portfolio spanning 43.6 million square feet. At the 'ESG Occupier Connect' forum, Embassy REIT commissioned the first phase of its 20 MW solar rooftop project, which is one of the largest solar rooftop projects in Asia. This project aims to produce 30 million units of solar power, which will offset about 25,000 tonnes of CO2 emissions.
Embassy REIT aims to achieve its 2040 net zero carbon operations goal by utilizing 75% renewable energy by 2025. Besides the existing 100 MW solar plant, the REIT is strategically planning to increase its current 120 MW onsite and offsite renewable energy capacity by installing new solar plants across Bengaluru and NCR. This renewable energy capacity expansion will require additional capital investments above the Rs 300 crores Embassy REIT has already committed to its ongoing ESG initiatives.
Embassy REIT's ESG program has received several accolades from renowned global institutions, including a 5-star rating from both GRESB and the British Safety Council. Green Business Certification Inc recognized Embassy REIT as the world's largest 'USGBC LEED Platinum-Certified' office portfolio (v4.1 O+M). Embassy REIT's sustainable finance portfolio has grown to over Rs 3,900 crores, and two of its listed bonds were recently awarded at the prestigious 'Asset Triple A Country Awards for Sustainable Finance'.
The Embassy REIT is a Real Estate Investment Trust (REIT) listed on the Indian stock exchanges, which primarily owns and operates commercial office spaces in India. It is sponsored by Embassy Property Developments Private Limited, which is one of India's leading real estate developers.
The Embassy REIT was listed on the Indian stock exchanges in April 2019 and was the country's first publicly-listed REIT. It owns a portfolio of seven office parks and four office buildings, totaling around 33 million square feet of leasable area in cities such as Bangalore, Pune, and Mumbai. Its properties are leased to a diverse mix of tenants, including multinational corporations, IT/ITeS companies, and Indian blue-chip companies.
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