GRESB declares Mahindra Lifespaces Regional Sector Leader in Asia for Sustainability
Global industry body GRESB releases 2015 survey results; Mahindra Lifespaces ranked Regional Sector Leader for second year running
Mumbai, Sep 2, 2015: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been recognized asan industry leader in real estate Sustainabilitybest practices and initiativesfor the second year in a row, by being ranked Regional Sector Leader for Listed, Asia, Industrial, in the 2015 GRESB Surveyreport released today.
Additionally, two of the companyâ€™s initiatives in the areas of Sustainability Education and Construction Best Practices have been selected for publication as innovation case studies by GRESB, based on an internal review of scope, reach and potential:
- The Green Army Initiative â€“ An outreach program that identifies children as primary change agents of the future and aims to educate them on sustainable living habits and choices whilst encouraging them to spread the word amongst friends and family. The program incorporates interactive workshops (conducted across 13 schools in Mumbai in the past year), an online module and adopts a self-assessment methodology to inculcate sustainable habits in children. The Green Army Initiative is part of Mahindra Lifespacesâ€™ efforts to inspire, engage and nurture a young ecosystem that thinks responsibly. The long-term campaign target involves the creation of a 'million caring citizens' across the nation.
- Use of Ground Granulated Blast Furnace Slag (GGBS) in RCC Workâ€“ An example of the innovative use of a manufacturing by-product in the construction process that helps to reduce cement consumption, mitigates carbon emission and reduces cost of construction. GGBS is a waste product of the steel manufacturing process and is a potential part replacement for cement in Reinforced Cement Concrete or RCC.
â€œAt Mahindra Lifespaces, Sustainability is deeply ingrained in our day to day business decisions and encompasses business responsibility, environmental stewardship and community outreach. We are delighted to have once again been recognized by GRESB for leading in an area that is integral to our organizationâ€™s ethosand valuesâ€, said Anita Arjundas, Managing Director, MahindraLifespaces.
"In a world that grapples with rising population, growing social inequality, development challenges and climate change, the need for overall transformation in approach to business is clear. We will continue to explore ways in which we can integrate Sustainability into process, product and service innovation," she added.
"As environmental, social and governance (ESG) practices in Asia are increasingly scrutinized by investors, the GRESB results shows that the regional property industry is taking sustainability issues more seriously, making it a core part of business strategies. This is reflected in the increasing adoption of sustainability management practices and on-going efforts to address critical issues related to energy, water, waste, and human health. The recent gains achieved by the regional commercial real estate sector â€“ in particular by the Regional Sector Leaders, such as Mahindra Life Spaces Development â€“ are impressive. Nevertheless, it is clear that the sector's environmental impact is significant and more work to increase the use of best practices in the region remains to be done," says Ruben Langbroek, Head of Asia Pacific at GRESB.
Regarded as the global standard in sustainability reporting within the real estate sector, the report measured the sustainability performance of XXXlisted and private global property companies and funds and covered YYYYY buildings. GRESB collects information regarding the sustainability performance of property companies and funds. This includes information on performance indicators such as energy, GHG emissions, water and waste. In addition, the survey also covers broader sustainability issues, such as sustainability risk assessments, performance improvement programs, and engagement with employees and the community.
About Mahindra Lifespaces Developers Ltd.
Mahindra Lifespace Developers Ltd., the real estate and infrastructure development business of the $16.9 billion Mahindra Group, is a leader in sustainable urban development, through the creation of residential and integrated large format developments across nine Indian cities - Mumbai, Pune, Nagpur, Gurgaon, Faridabad, Jaipur, Chennai, Hyderabad and Bangalore. The Companyâ€™s residential & commercial development footprint includes over 0.83 million sq. m. (8.92 million sq. ft.) of completed projects and over 0.96 million sq. m. (10.38 million sq. ft.) of ongoing and forthcoming projects.
Mahindra Lifespaces has pioneered the concept of an integrated business city through â€˜Mahindra World Cityâ€™ developments in Chennai and Jaipur. These developments cover 1796 hectares (4,437 acres) and house over 125 reputed global companies, providing an integrated environment for Life, Living and Livelihood. The Companyâ€™s â€˜Greenâ€™ homes, pan-India presence, and the development of successful integrated cities have all contributed to Mahindra Lifespaces being recognized as a developer with a pioneering spirit. Mahindra Lifespaces is the first real estate company in India to release its triple bottom-line focused Sustainability Report that is based on the Global Reporting Initiative (GRI) framework and received an A+ rating indicating the highest levels of disclosure and transparency.
In 2014, Mahindra Lifespaces has been recognized as a Regional Sector Leader for Asia by the Global Real Estate Sustainability Benchmark (GRESB).
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the worldâ€™s largest, most powerful public companies, as measured by revenue, profit, assets and market value.
The Mahindra Group also received the Financial Times â€˜Boldness in Businessâ€™ Award in the 'Emerging Markets' category in 2013.
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GRESB (Global Real Estate Sustainability Benchmark, www.gresb.com) is an industry driven organization committed to assessing the sustainability performance of real estate portfolios (public, private and direct) around the globe. Thisdynamic benchmark is used by institutional investors toengage with their investments with the aimofimprovingthe sustainability performance of their investment portfolio, and the global property sector atlarge.