Embassy REIT Becomes the Largest ‘USGBC LEED Platinum v4.1 O+M’ Certified Office Portfolio in India
Bengaluru, India, April 19, 2022
Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, announced today that the Green Business Certification Inc. (‘GBCI’) has accorded Embassy REIT with the distinction of operating and maintaining the largest ‘USGBC LEED Platinum v4.1 O+M’ certified office portfolio in India, conforming to one of the highest sustainability rating globally.
GBCI is India’s foremost authority on sustainability in building design, construction, and operation and is part of the U.S. Green Building Council (‘USGBC’) that provides independent oversight of professional credentialing and project certification under the Leadership in Energy and Environmental Design (‘LEED’) green building rating system. LEED is an international symbol of sustainability excellence and green building leadership that signifies a building is reducing carbon emissions, conserving resources, reducing operating costs, prioritizing sustainable practices and creating a healthier environment.
Embassy REIT achieved the impressive feat of receiving ‘USGBC LEED Platinum v4.1 O+M’ certification for over 9.45 million square feet simultaneously for 29 buildings across Pune, Mumbai and Noida. With this, all of Embassy REIT’s properties in these three cities are now LEED Platinum certified for following the highest operational standards for sustainability. Further, majority of Embassy REIT’s properties situated in Bangalore are Indian Green Building Council (‘IGBC’) Platinum-rated campuses and are currently undergoing assessment for USGBC certifications.
Speaking on the launch of the week-long events to celebrate global Earth Day 2022 across Embassy REIT’s properties, Michael Holland, Chief Executive Officer of Embassy REIT, commented,
“We are delighted to receive this globally-acclaimed certification from GBCI for all our assets in Pune, Mumbai and Noida. We are committed to provide healthy and energy-efficient sustainable workspaces to our 200+ blue-chip occupier base and their employees and are constantly undertaking initiatives to monitor and reduce the carbon footprint of all our properties in line with our 75/25 Programme - 75% renewable power by 2025 - and our longer term 2040 net zero target.”
Gopalakrishnan Padmanabhan, Managing Director – Southeast Asia & Middle East of GBCI India, said,
“At GBCI, we are committed to providing sustainable solutions that will ensure the overall green development of buildings in India. With keen attention to building operations, the efficiency and performance of existing buildings can be turned around and drastically improved through implementing LEED O+M. We would like to congratulate Embassy REIT on achieving its LEED v4.1 O+M Platinum certification and encourage other existing structures to consider going green."
About Embassy REIT
Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 42.6 million square feet (‘msf’) portfolio of eight infrastructure-like office parks and four city‑centre office buildings in India’s best-performing office markets of Bangalore, Mumbai, Pune, and the National Capital Region (‘NCR’). Embassy REIT’s portfolio comprises 33.6 msf completed operating area and is home to over 200 of the world’s leading companies. The portfolio also comprises strategic amenities, including three operational business hotels, three under‑construction hotels, and a 100 MW solar park supplying renewable energy to tenants. For more information on Embassy REIT’s ESG initiatives, please visit www.embassyofficeparks.com/esg/esg-publications.
The Green Business Certification Inc. (‘GBCI’) is a premier organization independently recognizing excellence in green business industry performance and practice globally. Established in 2008, GBCI exclusively administers project certifications and professional credentials and certificates within the framework of the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) green building rating systems, as well as the PEER standard for power systems, the WELL Building Standard, the Sustainable SITES Initiative (SITES), EDGE (Excellence in Design for Greater Efficiencies), TRUE certification for zero waste, Investor Confidence Project (ICP) for energy efficiency retrofits.
About GBCI India
GBCI India was incorporated in 2016 to facilitate the global growth of GBCI and its sustainability programs and to provide on-the-ground support to the project teams and professionals advancing LEED in the region. The 50+ technical experts and professionals who make up GBCI India’s core team bring years of subject matter expertise and come from diverse backgrounds, but all share a passion and underlying commitment to being part of the sustainable transformation of real estate and construction sectors in India. For more information, please visit www.gbci.org/india and follow @GBCI_India on Twitter and LinkedIn.
The Leadership in Energy and Environment Design (‘LEED’) green building certification system is the foremost program for the design, construction, maintenance, and operations of green buildings. Every day, more than 2.6 million square feet of space is certified using LEED. More than 107,000 projects are currently participating in the commercial LEED rating systems, comprising more than 24 billion square feet of construction space in 182 countries and territories. In addition, there are nearly 2 million registered and certified residential units. India is currently the fourth largest market in the world for LEED. Learn more at usgbc.org/LEED and review the Foundations of the LEED development process. LEED v4.1, the latest version of LEED, raises the bar on building standards to address energy efficiency, water conservation, site selection, material selection, day lighting and waste reduction. For further details, please visit LEED v4.1 O+M.
The U.S. Green Building Council (‘USGBC’) is committed to a prosperous and sustainable future through cost-efficient and energy-saving green buildings. USGBC works toward its mission of market transformation through its LEED green building program, robust educational offerings, an international network of local community leaders, the annual Greenbuild International Conference & Expo, the Center for Green Schools and advocacy in support of public policy that encourages and enables green buildings and communities. For more information, visit usgbc.org and connect on Twitter, Facebook and LinkedIn.
This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited (‘the Manager‘) in its capacity as the Manager of Embassy REIT, and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Embassy REIT does not provide any guarantee or assurance with respect to any distribution or the trading price of its units.
This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, including the impact of COVID-19 on us, our occupiers and the Indian and global economies, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained, such as COVID-19. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements.
Explore Other Press Releases
November 28, 2023