Committed to delivering on the ESG goals, Lodha bags exceptional scores in GRESB assessment
October 19, 2022 | By
~Gets rated 5-star in the 2022 GRESB Development Benchmark~
Mumbai, October 18, 2022: Lodha, India’s no.1* real estate developer, receives exceptional scores in the 2022 real estate assessment by GRESB, the leading global ESG benchmark for real estate and infrastructure investments. Following a thorough evaluation across the company’s environmental, social, and governance (ESG) dimensions, Lodha scored a 5-star rating in the 2022 GRESB Development Benchmark and a 4-star rating in the 2022 GRESB Standing Investment Benchmark respectively in its first year of participation.
GRESB data is used by capital providers and asset managers to benchmark investments across portfolios and to better understand the opportunities, risks, and choices that need to be made as the industry transitions to a more sustainable future.
Lodha bagged a score of 95 out of 100 in the Development Benchmark, with excellent scores across environmental (49/51), social (23/26) and governance (22/24) dimensions. Lodha ranked 6th within the residential (Asia) category and 3rd in the residential: multi-family and high rise: multi-family – listed (Asia) category. In the Standing Assets segment as well, Lodha got a promising score of 83 out of 100 and is the only Indian company to be ranked within the diversified office/retail-listed (Asia) category, garnering 11 th position amongst the peer group.
Commenting on the ratings, Aun Abdullah, Head - ESG, Lodha said, “With a vision of building a better life, prioritization and integration of the defined ESG targets have always been at the forefront of our business strategies, and our GRESB ratings are a testament to the same. Being committed to 'doing good, while doing well', our overarching goal is to be a 'net positive' organization - focusing not just on economic profit, but also creating a positive impact on society as well as the environment."
“Decarbonizing the built environment is one of the greatest challenges the global real assets industry faces today. While the road ahead is long, we are proud to see that committed industry leaders like Lodha continue to make strides towards achieving a sustainable and a net-zero future. We commend their exceptional score and 5-star rating at their very first appearance in the benchmark.” said Ruben Langbroek, Head of Asia-Pacific at GRESB.
With an ardent focus on attaining the highest standard of governance and becoming a global leader in sustainability, Lodha has been driving business excellence by formulating exemplary initiatives and associations. Lodha recently launched the ‘Lodha Net Zero Urban Accelerator’ in partnership with RMI to catalyze the adoption of sustainable practices in the sector and propel India towards a low carbon economy. Last year, Lodha also joined the Science Based Targets initiative (SBTi) to reduce emissions in line with the Paris Agreement goals.