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Mindspace Business Parks REIT first real estate entity from India to pledge commitment to the Climate Group's EV100 initiative

Posted On: 2020-09-24 01:13:27

Mindspace Business Parks REIT, with one of India's largest Grade A office portfolios, has pledged to transition to 100% electric mobility by expanding electric vehicle charging infrastructure for Clients across all its Business Parks by 2030, to help accelerate a global shift to clean transport and reduce air pollution in the urban micro-markets of presence.

Mindspace Business Parks REIT becomes the first real estate entity from India to join the Climate Group's global EV100 initiative, which brings together nearly 90 international companies committed to making electric transport the new normal by the end of this decade. The announcement comes during Climate Week NYC 2020, one of the biggest climate summits in the world, showcasing climate action by leading businesses and governments and inspiring others to do more.

It is vital to raise awareness of clean transport options in order to halve carbon emissions by 2030. With an office portfolio that covers five integrated business parks and five quality independent offices, Mindspace Business Parks REIT has over 2 lakh employees coming in to work each day at its business parks, pointing at an opportunity to positively empower and influence a large populace.

Mindspace Business Parks REIT has already begun driving EV uptake amongst its clients by installing1000+ charging points across its business parks, which can be accessed without any charge. In 2019, EV vehicles were pilot launched at the Mindspace Juinagar Business Park in Airoli (Mumbai Region), with EV infrastructure being set up subsequently across locations at a very quick pace.

The next step will be to expand this commitment significantly, ramping up the numbers, as the portfolio grows. The infrastructure provided will be supported with communication and campaigns on EV's, highlighting advantages to the user and environment, to help increase awareness and acceptance.

Additionally, Mindspace Business Parks REIT portfolios' owned EV vehicles which are used to ferry employees in and around the business parks provides clients a first-hand experience of an EV, encouraging them to make the switch. The whole fleet will be switched to electric by 2030.

Speaking on the commitment, Mr. Vinod Rohira, CEO Mindspace Business Parks REIT said, "We are delighted to announce the entry of Mindspace Business Parks REIT, into the elite EV100 community at Climate Week NYC. Mindspace Business Parks are a chosen office address by global MNC's and Fortune 500 Companies in India, which sees over 2 lakh employees coming into work each day. Our endeavour under the Climate Group's EV100 initiative is to fortify our commitment to sustainability, with the best blend of innovation and technology. By setting up of the electrical charging stations at our Business Parks we offer solutions that are good on the environment, customers, stakeholders, and future generations."

Divya Sharma, Executive Director - India, the Climate Group, said, "We are delighted to welcome Mindspace Business Parks REIT to EV100. By providing charge points for thousands of its employees, the entity is helping to drive India's transition to electric mobility, lowering emissions and improving air quality at the same time. As the first real estate entity from India joining our initiative, Mindspace Business Parks REIT is leading by example, and has a real opportunity to influence the wider sector to follow in its footsteps."

Pioneering sustainable practices in the Indian real estate industry, Mindspace Business Parks REIT has woven measures to reduce carbon footprint into its business parks right at the time of conceptualization, and today each building is either Gold or Platinum Green Building Certified (LEED/IGBC).

Examples include, integrating passive architecture design to soil erosion control during construction; rain water harvesting and water efficient plumbing fixtures to waste water treatment; installing HVAC systems and energy conserving electrical fixtures to Mindspace Madhapur; Hyderabad installing a 1.47MW rooftop solar PV; organic waste management which sees 100% of organic waste converted to manure and using it for landscape inside the campuses; regular CO2 monitoring inside the buildings and use of low emitting materials to building designs that ensure 30% extra fresh air. These are just some of the best practices that have led Mindspace Business Parks REIT's business parks to receive a 5 Star rating by British Safety Council in its Health and Safety Audit; along with being certified the OHSAS 18001 for occupational health and safety management.

Source: Equity Bulls

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