COMMERCIAL REAL ESTATE MISSION NET ZERO
Mission Net Zero targets net-zero carbon emissions within a set time. Mili Majumdar, Senior Vice President. U.S. Green Building Council, opened the discussion stating, “The building sector accounts for roughly 40% of energy-related emissions. This excludes embodied emissions from steel and cement, which make up 8% of total emissions and are crucial for real estate. Data tracking and reporting, cooperation, advocacy, education, and global sustainability alignment are the ways to address the problem.” Anubhav Saxena, Dy. General Manager - ESG & Sustainability, Decarbonisation, Data Analytics, K Raheja Corp articulated, “Net zero's concept has evolved and varies among companies and sectors. Initially, it focused on buildings producing equal energy consumed, and later has moved on to incorporate green power, offsite renewables, and efficient designs. Achieving 100% net zero remains tough, with carbon offsets considered. Thus, net zero differs per project and organization." Deepa Parekh, Sustainability Coach, Net Zero Education Expert, said “Both supply and demand sides must grasp the net zero impact in their areas, spurring capacity-building efforts, creating skilled green project workforces, and enhancing collaboration among team members and clients. Without comprehending net zero concepts, motivation is difficult without external incentives.” Isha Anand, Associate Director of RMZ Corp, stated, “The design significantly impacts building optimization, resource allocation, and carbon reduction measures. Our goals include lowering energy intensities below 100 EPI in multi-tenanted buildings and increasing reliance on renewable energy.” Karandeep Singh, Head - Operations, West Region, Embassy Services Pvt. Ltd. added, “Tenants too benefit from green power, attracting clients and long-term contracts. We prioritize IoT metering for energy tracking, effective parking/traffic management for lower emissions, and encourage sustainable diets and healthier lifestyles. Although we cannot always control tenant behaviour, we strive to reduce power consumption in shared spaces and achieve efficiency in chiller plant operations.” Khurshed Gandhi, Managing Director, Strategic Consulting, Cushman & Wakefield India, said “Real estate contributes to 40-45% of carbon emissions. India's 1.3 billion sq ft property sector includes commercial, retail, hospitality, and warehousing. Thus, raising awareness and changing behavior through education is crucial. BRSR compliance affects the top thousand listed Indian firms. Companies like Goldman Sachs and Deutsche Bank show strong risk management. ESG-compliant businesses, like IBM's NYC facility relocation, often see increased profits. Better data management enhances ESG adoption across industries.” STANDARDIZED DATA CRUCIAL FOR GREEN GOALS There seems to be a minimal data-driven approach and lack of evidence-based design across Indian property sector. At a high level, strategies for efficiency are discussed, but the practical application and lessons learned from them are absent. This is where data sharing becomes crucial. Karandeep Singh stated, “While talking about data, it is crucial to implement standardized metrics for emission reports across industries. Establishing both short-term and long-term targets, such as achieving net-zero emissions by 2070, is essential. Moreover, benchmarking and third-party verification systems should be in place to ensure transparency. In facility management, we track crucial performance indicators with clients, analyzing data like energy use per square foot, its connection to commercial park food consumption, and per-person water use in buildings. Strict examination at operational, management, and strategic levels is vital.” Isha Anand added, “We utilize our portfolio as a testing ground to optimize spatial usage, identifying areas with high and low usage to make informed decisions on future construction. Additionally, we monitor energy consumption patterns closely and provide feedback to users on their consumption habits. This two-pronged approach results in efficient space utilization and encourages responsible energy consumption." Deepa Parekh added “To achieve the net zero goals in a building or development, a data-driven approach ensures informed decisions and avoids greenwashing. The gap exists due to insufficient intent in using data during design. Focus on design goals and effective data analysis is crucial for closing the loop. In short, a systematic approach is needed for handling overwhelming data.” Mili Majumdar concurred, “It is essential to monitor data and performance to ensure the practical application of design objectives. Furthermore, occupants of the building must derive value from these implementations. Addressing this disconnect between designers, operators, and users of buildings is critical." Anubhav Saxena expressed “Project and organizational data vary significantly. Achieving net-zero goals requires data science and analytics. With 60 buildings and 200 KPIs each, there are around 1,200 parameters - manual analysis is unfeasible. Data science techniques and interactive dashboards make problem-solving easier for management, aiding in reaching net-zero targets." Khurshed Gandhi concluded,“We remain optimistic about the creation of a data lake; however, developers currently face limitations due to the confidential nature of client data. As more smart metering and data-sharing practices emerge, awareness within organizations will grow and lead to further progress in this area. It is essential for developers to recognize their responsibility and duty to facilitate these advancements. The sharing of best practices among tenants and developers has significantly added value to the sector." THE DESIGN SIGNIFICANTLY IMPACTS CARBON REDUCTION MEASURES. INDUSTRY COLLABORATION IS ESSENTIAL FOR STANDARDIZING SUSTAINABLE PRACTICES- ISHA ANAND THE CHALLENGE IS THE INSUFFICIENT KNOWLEDGE AND EXPERTISE. AS ESG GAINS TRACTION IN INDIA AND RECEIVES LEGISLATIVE ATTENTION, THE LANDSCAPE WILL TRANSFORM- KURSHED GANDHI PROJECT AND ORGANIZATIONAL DATA VARY SIGNIFICANTLY. ACHIEVING NET-ZERO GOALS REQUIRES DATA SCIENCE AND ANALYTICS- ANUBHAV SAXENA BY COLLABORATING WITH OUR CLIENTS, WE AIM TO MINIMIZE WASTE AND MEET NET-ZERO TARGETS THROUGH VARIOUS INITIATIVES - KARANDEEP SINGH EDUCATION IS A CATALYST FOR CHANGE TRAINING ARCHITECTS IN EVIDENCE-BASED METHODS IS CRUCIAL FOR SUCCESSFUL PROJECTS - DEEPA PAREKH COMMERCIAL PROPERTIES IN PARTICULAR MUST DRIVE THE NET ZERO AGENDA FOR CLIMATE CHANGE, RESILIENCE, HEALTH, EQUITY, AND ESG THROUGH A COMPREHENSIVE APPROACH -MILI MAJUMDAR
Tags : Khurshed Gandhi Anubhav Saxena Mili Majumdar Deepa Parekh Isha Anand Karandeep Singh COMMERCIAL REAL ESTATE MISSION NET ZERO reporting cooperation advocacy education global sustainability