GRESB, the top worldwide ESG benchmark for real estate and infrastructure investments, has given India’s first listed REIT, the largest office REIT in Asia by area, a 5-star certification for its full 42.8 msf operational and development portfolio.
A significant achievement for an Indian REIT, GRESB has also named Embassy REIT a sector leader for office development in Asia for its sustainability leadership.
Embassy REIT developed a three-year framework for its 19 ESG projects spanning three pillars–a resilient planet, revitalized communities, and responsible business–in accordance with its 2040 net-zero promise, and it continues to make great progress on the same.
The aggregate GRESB score for the Development and Standing Investment portfolios of Embassy REIT was 96% and 87%, respectively. With a perfect score on the GRESB Real Estate assessment’s “Governance” pillar, Embassy REIT stood out in particular. This score reflects the best-in-class corporate governance standards that the REIT has established and upheld.
Environmental, Social, and Governance (ESG) data are provided to financial markets by the industry-driven and mission-driven GRESB. More than 170 institutional and financial investors utilise GRESB, which was founded in 2009, as the premier ESG benchmark for real estate and infrastructure investments worldwide.
This year, the GRESB ESG Benchmark expanded to include more than $8.6 trillion in assets under management, an increase from $6.4 trillion in the previous year.
In India’s top-performing office markets of Bangalore, Mumbai, Pune, and the National Capital Region (or “NCR”), Embassy REIT owns and manages a 42.8 million square foot (msf) portfolio of eight infrastructure-like office parks and four city centre office buildings.
Over 200 of the top companies in the world call the 33.8 msf completed operating area of Embassy REIT’s portfolio home. The property also includes strategic facilities, such as a 100 MW solar park that provides tenants with renewable energy, two hotels that are now under development, and four working business hotels.
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