Embassy REIT conferred with Golden Peacock Award; stock skids ~2%

24 Mar 2022 , 01:01 PM

In its press release today, Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that the company has received the prestigious ‘Golden Peacock Award for Sustainability for the year 2021. The award is conferred as a recognition of its leading initiatives in the Environmental, Social, and Governance (‘ESG’) field.

“We are honored to receive this prestigious award from the Institute of Directors recognizing our sustainability efforts over a number of years to take an ESG leadership position in the Indian real estate sector. We have recently announced our commitment to deliver net-zero by 2040 and are constantly working to align our business priorities with our sustainability goals,” commented Michael Holland, Chief Executive Officer of Embassy REIT.

Recently, Embassy REIT was also awarded a WELL portfolio score from the International WELL Building Institute (IWBI), being the first organization to receive a certification for the implementation of health and wellbeing strategies through a portfolio-wide approach.

The Golden Peacock Awards, instituted by the Institute of Directors (‘IOD’), India in 1991, is regarded as a global hallmark for corporate excellence due to its transparent and exhaustive 3-Tier evaluation process based internationally recognized criteria.

In the past 6 years, Embassy REIT is the only Indian real estate entity to receive this recognition, reinforcing its commitment to be a sustainability leader for the sector.

Embassy Office Parks REIT is currently trading at Rs375.04 down by Rs4.95 or 1.3% from its previous closing of Rs379.99 on the BSE. It touched intraday high and low of Rs377.78 and Rs369.49 respectively.