Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been recognized as an industry leader in real estate Sustainability best practices and initiatives for the second year in a row, by being ranked Regional Sector Leader for Listed, Asia, Industrial, in the 2015 GRESB Survey report released today.
Additionally, two of the company’s initiatives in the areas of Sustainability Education and Construction Best Practices have been selected for publication as innovation case studies by GRESB, based on an internal review of scope, reach and potential:
The Green Army Initiative – An outreach program that identifies children as primary change agents of the future and aims to educate them on sustainable living habits and choices whilst encouraging them to spread the word amongst friends and family. The program incorporates interactive workshops (conducted across 13 schools in Mumbai in the past year), an online module and adopts a self-assessment methodology to inculcate sustainable habits in children. The Green Army Initiative is part of Mahindra Lifespaces’ efforts to inspire, engage and nurture a young ecosystem that thinks responsibly. The long-term campaign target involves the creation of a ‘million caring citizens’ across the nation.
Use of Ground Granulated Blast Furnace Slag (GGBS) in RCC Work – An example of the innovative use of a manufacturing by-product in the construction process that helps to reduce cement consumption, mitigates carbon emission and reduces cost of construction. GGBS is a waste product of the steel manufacturing process and is a potential part replacement for cement in Reinforced Cement Concrete or RCC.
“At Mahindra Lifespaces, Sustainability is deeply ingrained in our day to day business decisions and encompasses business responsibility, environmental stewardship and community outreach. We are delighted to have once again been recognized by GRESB for leading in an area that is integral to our organization’s ethos and values”, said Anita Arjundas, Managing Director & CEO, Mahindra Lifespaces.
“In a world that grapples with rising population, growing social inequality, development challenges and climate change, the need for overall transformation in approach to business is clear. We will continue to explore ways in which we can integrate Sustainability into process, product and service innovation,” she added.
“As environmental, social and governance (ESG) practices in Asia are increasingly scrutinized by investors, the GRESB results shows that the regional property industry is taking sustainability issues more seriously, making it a core part of business strategies. This is reflected in the increasing adoption of sustainability management practices and on-going efforts to address critical issues related to energy, water, waste, and human health. The recent gains achieved by the regional commercial real estate sector – in particular by the Regional Sector Leaders, such as Mahindra Life Spaces Development – are impressive. Nevertheless, it is clear that the sector’s environmental impact is significant and more work to increase the use of best practices in the region remains to be done,” says Ruben Langbroek, Head of Asia Pacific at GRESB.
Regarded as the global standard in sustainability reporting within the real estate sector, the report measured the sustainability performance of 707 listed and private global property companies and funds and covered 61000 buildings. GRESB collects information regarding the sustainability performance of property companies and funds. This includes information on performance indicators such as energy, GHG emissions, water and waste. In addition, the survey also covers broader sustainability issues, such as sustainability risk assessments, performance improvement programs, and engagement with employees and the community.