GRESB Rates Brookfield India Real Estate Trust 5 Star in its Maiden Submission

21 Oct 2022 , 11:20 AM

Business Wire India

Committed to build a vibrant, inclusive and sustainable space, Brookfield India Real Estate Trust (BIRET) has been awarded a 5-star rating for its environmental, social, and governance performance from GRESB*. The company received an overall score of 90%, for operational buildings 21% higher than the global average. For the recently developed buildings, GRESB awarded BIRET with a 96% score. Brookfield India Real Estate Trust’s holistic ESG program drives value across both its physical and social initiatives, reflecting a pledge to positively impact its surrounding environments by creating safe, sustainable, and vibrant communities across the lifecycle of real estate from design to operation. Brookfield India Real Estate Trust was also recognized as sector leader for sustainable office development in Asia by GRESB.
 
To operationalize the net-zero greenhouse gas emissions by 2050 or sooner, Brookfield India Real Estate Trust has rolled out a comprehensive ESG strategy across 13 initiatives.
 
“We are pleased to receive a five-star rating from GRESB in our first year of participation. We take this achievement as an outcome of our commitment to sustainable business practices aligned to our global ESG framework. Across our properties in India, we are deploying the very best of technologies to achieve our goal of being net zero by 2050. Every member of our team is cognizant of the role they play in our path to achieving ESG excellence and contribute to creating consistent value for all our stakeholders,” said Alok Aggarwal, Chief Executive Officer, Brookprop Management Services Private Limited.

“GRESB Sector Leaders are the top-performing organizations leading the way to a net-zero future and pulling the industry forward. We applaud this year’s Sector Leaders for their commitment, leadership and dedication to ESG and sustainability,” said Sebastien Roussotte, CEO of GRESB.

*GRESB is an internationally recognized benchmark, assessing the ESG performance of $6.9 trillion of assets under management. The GRESB Sector Leader Awards recognize real estate and infrastructure companies that have demonstrated outstanding leadership in sustainability annually.

About Brookfield India Real Estate Trust

Brookfield India Real Estate Trust is India’s only institutionally managed REIT, comprising of five large campus format office parks located in key gateway markets of India – Mumbai, Gurgaon, Noida, and Kolkata. The BIRET portfolio consists of 18.6 M sf comprising 14.2 M sf of completed area and 4.4 M sf of future development potential. BIRET has the rights of the first offer on an additional 6.7 M sf, currently owned by members of the Brookfield Group.

BIRET is sponsored by an affiliate of Brookfield Asset Management Inc, one of the world’s largest alternative asset managers and investors, with over US$750 billion of assets under management, across real estate, infrastructure, renewable power, private equity and credit strategies and has a global presence across more than 30 countries.

The quality of assets owned by BIRET together with the sponsor group’s expertise in owning and operating assets over several years makes it the preferred “landlord of choice” for tenants.