SARE Homes Curbs Carbon Trail to boost its Green Quotient

In the wake of climate change discussions at the ongoing COP21 - Paris Climate Conference, SARE Homes, India's premier FDI-funded developers and part of London-based asset management firm Duet Group has proactively addressed critical issues of carbon emissions and other greenhouse gases arising as a result of construction activities in the real estate sector. The company in association with DNV (Det Norske Veritas), an internationally reputed certifying body, has verified its carbon footprint for financial years 2013 (April 2012 to March 2013) and 2014 (April 2013 to March 2014) in accordance with ISO 14064: Part 1 2006. The company has aligned itself, as proposed by Union Minister for Environment, Forests and Climate Change, Shri. Prakash Javadekar to work towards a low carbon emission pathway.

Using a methodology based on the Greenhouse Gas (GHG) Protocol, DNV had verified a total of 1263.58 metric tons of CO2 equivalent emissions basis data collected and compiled by SARE Homes across eight operational sites and offices. The agreed scope of work comprised of:

Scope 1: Direct Emissions: emissions due to combustion of fossil fuels as part of DG set operations, (in stationary equipment), combustion of fossil fuels in mobile equipment, (company owned vehicles) venting of GHG gases and emissions due to maintenance/turnaround activities (A/C/refrigerant gas refills/servicing) have been covered.

Scope 2: Indirect Emissions: emissions due to purchase of electricity have been covered under indirect emissions

Scope 3: Other Indirect Emissions: Other indirect GHG emissions have not been considered and have been excluded

GHGs were quantified for Diesel and LPG combustion. For Refrigerant Refills, PFC's and HFC's were quantified. As indicated in the above table, each of the sources of emission within the organizational boundary was identified and the type of GHG emitted from this process evaluated. Each of these sources was categorized as per direct and energy indirect emission sources.

SARE Group is committed to reduce its carbon footprint and has offset its Scope 1 and Scope 2 organizational emissions by procuring VCS (Verified Carbon Standard) certified carbon offsets for unavoidable emissions. The company is committed to reduce the emissions year on year and is investing in solar and wind power renewable projects across India.

Mr. David Walker, Managing Director, SARE Homes, "It is imperative for individuals, institutions, industries and nations to make serious efforts in reducing their carbon trail. While many corporate entities may be reluctant to reduce their carbon footprint, since they believe it involves higher costs, such practices act as a market differentiator for SARE. As the construction industry directly and indirectly contributes some of the highest GHG (greenhouse gases) emissions globally, we believe it is necessary to reduce this carbon trail through sustainable practices and by monitoring different activities and ascertaining their carbon footprint."

Mr. Vineet Relia, Managing Director, SARE Homes, "By identifying annual emissions, we are better positioned to initiate measures that reduce carbon footprint, boost the green-building quotient and differentiate it from traditional developers with a heavier carbon trail. What we currently need is access to finance and the right technology to combat climate change."

Source : Equity Bulls

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