Mindspace REIT Partners with GNFZ to Transition Entire Portfolio to Net-Zero Certification Pathway
New Delhi, April 23, 2026: Mindspace Business Parks REIT, owner of a premier Grade A office portfolio in India, has announced a landmark partnership with the Global Network for Zero (GNFZ). The collaboration aims to transition the REIT’s entire ~39 million sq. ft. portfolio to a net-zero certification pathway, marking one of the largest portfolio-level decarbonization initiatives in India’s commercial real estate sector, the company said in a press release.
The partnership signals a strategic shift for Mindspace REIT, moving from individual building-level certifications to a unified, portfolio-wide approach. By aligning with GNFZ—an internationally recognized authority on net-zero standards—the REIT is anchoring its sustainability strategy in verifiable, data-driven climate benchmarks. This structured roadmap will focus on addressing Scope 1, Scope 2, and critical Scope 3 emissions across its value chain, including tenants and suppliers.
Commenting on the achievement, Ramesh Nair, CEO and MD, K Raheja Corp Investment Managers Private Limited, said:
“Sustainability, for us, has always been about action, not announcements. When we set our net-zero target for 2042, we committed to backing it with real, measurable steps across every asset we own. This partnership with GNFZ does exactly that – it puts our entire portfolio on a clear, accountable path to net zero. Our tenants, investors, and partners deserve to see not just where we are headed, but how we plan to get there. We have always believed in walking the talk, and this is another step in that direction.”
The initiative is expected to accelerate renewable energy integration and enable centralized energy tracking across all assets. Mahesh Ramanujam, President & CEO, GNFZ, highlighted the global significance of the move, stating:
“India has an opportunity to lead the next chapter of global real estate decarbonisation, and this collaboration with Mindspace REIT sets a powerful precedent for the market. By committing an entire high-quality portfolio to a structured net-zero pathway, the REIT is not only raising the bar within India but also demonstrating global leadership in how real estate owners can scale climate action. This initiative reflects the direction the industry must take, moving beyond individual assets to portfolio-wide transformation, and positions Mindspace REIT among the most forward-looking real estate platforms globally.”
Mindspace REIT enters this partnership with a strong track record of ESG performance. As of FY2025, the REIT has successfully reduced its Scope 1 and Scope 2 emissions by 32.2% and increased its renewable energy usage to 40.2%. Having maintained a 5-star GRESB rating for three consecutive years, the REIT remains committed to achieving full net-zero emissions by 2042 and has joined the global RE100 initiative, pledging 100% renewable electricity by 2050, the press release added.
