Brookfield Properties India advances its net zero target by 10 years to 2040 

New Delhi, December 2, 2022: Brookfield Properties India has advanced its commitment to reach Net Zero greenhouse gas (GHG) emissions by 10 years to 2040 in the India properties.                         

A press release issued by the company says that, in its inaugural ESG report unveiled on Friday, the company presented detailed insights on its ESG principles for developing a resilient business. 

Expressing his views on the report, Alok Aggarwal, Managing Director and Chief Executive Officer of Brookfield Properties India said, “Our ESG strategy is centered on business resilience and creating value for the entire ecosystem in which we operate. In line with our commitment, all our campuses focus on energy efficiency, reducing water consumption, promoting recycling, and improving indoor air quality – providing occupants with a healthy working environment. The company’s robust governance framework is instrumental in mitigating risk, ensuring transparency, focusing on sustainable solutions, empowering people, and building trust.  We are committed to practices that have a positive impact on the environment and the communities. With these measures in place, we have advanced our Net Zero target by 10 years across our entire portfolio of 50 million square feet in India.”

Brookfield Properties has committed to carbon reduction targets approved by the Science Based Targets initiative (SBTi) by FY2023 along a 1.5 degrees C global warming scenario. To achieve the targets, the company has committed to reaching the following interim targets by 2025 from a 2019 baseline:  

• Reduce greenhouse gas emissions, energy and water consumption in new and existing buildings
  • 10% reduction in energy consumption 
  • 10% reduction in GHG emissions 
  • 10% reduction in water consumption 
• Improve waste diversions at their assets 
  • 90% of waste diversions from landfill 
• To achieve net zero by 2040 or sooner 
  • Increase renewable energy use to 30% 
  • Sustainable Building certifications for 95% of the portfolio 
  • Ensuring environmental data monitoring for 100% of the portfolio