Corporates Drive Demand for Carbon-Neutral Office Spaces
Large corporations are now prioritizing carbon-neutral office spaces to achieve sustainability goals, leading to a significant shift in real estate practices. Companies are engaging auditors to assess both operational and embodied carbon emissions, and de
Carbonneutral Office SpacesReal EstateCarbon FootprintGreen CertificationsSustainable WorkspacesReal Estate NewsJan 26, 2025
This trend is driven by the increasing emphasis on achieving carbon neutrality, with multinational companies going beyond green certifications to ensure their spaces remain carbon neutral throughout their lifecycle.
Industry experts note that this involves detailed audits of both operational and embodied carbon emissions.
Vibhor Jain, founder and CEO of Carbon Guardians, a company that provides carbon-neutral managed office spaces, explains, 'We have developed a platform that calculates, reduces, and offsets both embodied and operational carbon in office spaces.
Real estate plays a significant role in global emissions, and it's imperative for the industry to evolve.' Carbon Guardians offers comprehensive services from leasing and interior fit-outs to facility management, helping companies meet their sustainability objectives.
Developers are also stepping up to meet the growing demand for sustainable workspaces.
Tata Realty and Infrastructure, for example, has implemented advanced energy monitoring systems across its portfolio of Tata Intellion offices, measuring both direct energy sources and indirect grid consumption.
Ritesh Sachdev, Senior Vice President and Head of Commercial Leasing at Tata Realty, highlights, 'This granular data enables us to identify optimization opportunities and implement targeted solutions.
Our portfolio has achieved a significant milestone with 51% of electricity needs being met through renewable sources, demonstrating tangible progress toward carbon neutrality.'
According to the World Economic Forum, buildings account for nearly 40% of global greenhouse gas emissions and 40% of raw material use.
This presents both a challenge and an opportunity for the real estate sector.
Sachdev outlines Tata Realty's future plans 'Looking ahead, we are focusing on three key areas to ensure a carbon-neutral portfolio implementing advanced building management systems that provide real-time energy consumption data and optimization opportunities, increasing our renewable energy adoption to 60%, and incorporating circular economy principles in our operations, including water recycling and waste management, where we are already achieving 100% landfill diversion.'
Sumit Gera, CEO of India Business Parks at CapitaLand Investment, emphasizes the company's commitment to sustainability.
'All our occupied buildings are certified as green and equipped with high-efficiency infrastructure to lower energy and water usage.
Over 50% of the energy consumed across our parks is sourced from renewable sources.
Additionally, two of our largest parks in Bangalore and Chennai have achieved Net Zero certifications for water and waste management, and they are on track to achieve carbon net-zero status.
These milestones are part of our broader ambition to attain net zero status for all our parks by 2030.' CapitaLand's new projects adhere to the United Nations' sustainability guidelines for embodied carbon, ensuring low carbon intensity.
The Indian office market has seen a record-breaking year, with leasing across the top eight cities estimated to have crossed 80 million square feet in 2024.
Companies are increasingly focusing on environmental concerns not just during the construction stage but also during the operational stage.
Some have started calculating the carbon footprint of the interior as well.
As international occupiers make a beeline for Indian shores, developers are now seeking international green certifications that would be popular among these potential tenants.
In summary, the push for carbon-neutral office spaces is reshaping the real estate landscape.
Corporates and developers are working together to create sustainable solutions that not only meet environmental goals but also enhance the value and appeal of their properties.
Frequently Asked Questions
Why are companies assessing the carbon footprint of office spaces before leasing?
Companies are assessing the carbon footprint of office spaces to achieve their carbon neutrality goals, ensuring that the spaces remain environmentally responsible throughout their lifecycle. This includes detailed audits of both operational and embodied carbon emissions.
What services does Carbon Guardians provide?
Carbon Guardians offers a platform that calculates, reduces, and offsets both embodied and operational carbon in office spaces. They provide comprehensive services from leasing and interior fit-outs to facility management, helping companies meet their sustainability objectives.
What are the key areas Tata Realty is focusing on to ensure a carbon-neutral portfolio?
Tata Realty is focusing on three key areas: implementing advanced building management systems for real-time energy consumption data and optimization, increasing renewable energy adoption to 60%, and incorporating circular economy principles in operations, including water recycling and waste management.
What are CapitaLand's environmental achievements in their parks?
CapitaLand's parks are certified as green and equipped with high-efficiency infrastructure. Over 50% of the energy consumed is from renewable sources, and two of their largest parks in Bangalore and Chennai have achieved Net Zero certifications for water and waste management. They aim to attain net zero status for all parks by 2030.
How is the Indian office market responding to the demand for carbon-neutral spaces?
The Indian office market has seen a record-breaking year, with leasing across the top eight cities estimated to have crossed 80 million square feet in 2024. Developers are seeking international green certifications and focusing on sustainable practices to meet the growing demand for carbon-neutral spaces.
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