We have secured green loan certifications for loans related to our 20 MW solar rooftop project, our 100 MW solar park and other USGBC LEED pre-certified buildings. We are the first in the Indian real estate sector to receive a green loan certification from Climate Bonds Initiative, which mobilizes global capital for climate action towards a low carbon and climate resilient economy.
We have created an ESG checklist, and all proposed acquisitions now undergo an ESG due diligence which would be certified by external advisor(s) and presented to the Investment Committee. Additionally, we have strong related-party safeguards in-place for all acquisitions. For all future acquisitions, we aim to bring the asset under the purview of our net zero commitment within 5 years post the completion of the acquisition.
We are committed to maintaining our strong corporate governance standards and continuously endeavour to further refine our disclosures in sync with global best practices. In line with regulatory guidelines, we publish quarterly financial results and semi-annual performance reports as well as an annual sustainability report aligned with the Global Reporting Initiative (GRI) framework. We intend to align our disclosures to Task Force on Climate-Related Financial Disclosures (TCFD) by FY2025.
Embassy REIT’s conduct of business is underpinned by a commitment to high standards of corporate governance, which are aligned with global best practices. Our governance philosophy emphasizes accountability, transparency and integrity, with a view to maximizing unitholder value.
1. Our Governance Structure: Embassy REIT is managed by Embassy Office Parks Services Private Limited (EOPMSPL), herein, referred to as the ‘Manager’. The CEO of the Manager holds responsibility for the day-to-day functioning of Embassy REIT and is accountable to the Board of Directors. The Board consists of eight Non-Executive Directors, half of whom are Independent Directors and the rest are Nominee Directors. Together, they bring to the table, many decades of experience and expertise in diverse fields such as Finance, Investment, Healthcare and Business Administration. The Board is chaired by a nonexecutive Director and has 12.5% women representation. For further details, refer these links (Our Structure, Board Of Directors, Management Team, Committee Composition).
2. Our Policies: A comprehensive set of compliance policies guide the governance of the organization and ensure strict adherence to the REIT regulatory framework to protect the interests of our unitholders. For further details, refer these links (Environment Policies and Reports, Social Policies and Reports, Governance Policies and Reports).
3. Our ESG Governance: At Embassy REIT, an ESG committee has been established to drive the organization’s ESG agenda. The ESG committee is a cross-functional management committee of the Manager and is chaired by the CEO, with the Head of Operations as the Secretary. For further details, refer these links (ESG Governance).
4. Strong Regulatory Framework
At Embassy REIT, we strive to adhere to all regulatory requirements that govern our operations. We continuously monitor our adherence to the relevant laws and on a quarterly basis any non-compliance with regard to environmental, social and governance related laws and requirements is reported to the Board.
Embassy REIT has a robust risk management framework to address risks that arise from the economic, operational, social and environmental ecosystems that we operate in. Under oversight of the Manager’s Board, the organisation’s Risk Management committee is responsible to identify discrepancies early on articulate mitigation options, oversee implementation and track ongoing action to assess extent of impact in terms of risk reduction.
Cumulative green / sustainable finance portfolio
TARGET1
₹35 billion by FY2025
FY2025 progress
₹45 billion
ESG due diligence for acquisitions
TARGET1
100%
FY2025 progress
ESG due diligence completed6
TCFD compliant annual report
From FY2023 we began including summary TCFD disclosures in our ESG report, and subsequently from FY2024 onwards we also undertook some environmental initiatives in line with our TCFD recommendations.
Adopt and follow best-in-class governance framework
Quarterly ESG updates provided to the board
Compliance with all SEBI regulations within prescribed timelines
Any incidents of non-compliance was duly reported to the board and have been disclosed in the Annual Report of Embassy REIT for FY2025
Continuous monitoring and mitigation of key risks
Initiated development of a 3–5-year roadmap based on the outcomes of the TCFD assessment conducted in FY2023
Studies
