- Sustainability Updates
- ESG Initiatives
Sustainability Updates
Mindspace REIT Surges Ahead in Renewable Energy Adoption, 28.90% Green Power Consumption In FY23-24
In a remarkable stride towards sustainability, Mindspace REIT, a key player in property development, has demonstrated a substantial leap in renewable energy usage, reaching 28.90% of total energy consumption during the fiscal year 2023-24.
This impressive increase from 6.12% in the previous financial year is attributed to strategic initiatives, including the procurement of green power for common areas (CAM) and HVAC.
The REIT has successfully installed 1.93 MW of rooftop solar panels, generating approximately 1766 MWh in FY23, and continues to diversify its energy portfolio through the ‘Green Tariff’ route which has generated 30,076 MWh. With a total of 31,842 MWh of Green Power Procured (Rooftop + Green Tariff), Mindspace REIT is committed to further accelerating the integration of renewable energy, aligning with its goal to achieve 100% renewable energy usage by 2050 as part of the Climate Group’s RE100 initiative.
99.9% of the portfolio is Green Certified, encompassing a total of 55 Green Buildings, with 43 of them accredited with LEED EBOM Certification. Within these 43 Green Buildings, 36 assets have Platinum rating, and 7 assets have Gold Rating.
ESG Initiatives
Exemplifying Corporate Responsibility with Robust ESG Programs
Miyawaki Tree Plantation
Mindspace celebrated a green initiative in Malad, where 111 trees and 27 shrubs were planted with the support of Bank of America. This event focused on planting good and healthy indigenous plants, enhancing the local environment.
Kharadi Labour Camp
Mindspace Kharadi Labour Camp offers a range of new facilities for workers, including a créche run by an NGO, a sanitary vending machine, a recreation room with carrom and chess, and an outdoor gym. These amenities aim to improve the daily lives and well-being of the labour community.
ESG Reporting With ESG World
ESG World, a cutting-edge SaaS platform, empowers Mindspace Business Parks REIT to transparently disclose their sustainability initiatives. By consolidating data from various documents, it offers stakeholders a comprehensive view of ESG progress aligned with global frameworks. Users can easily access the Mindspace website and download detailed ESG reports directly from the platform.
Successful Conversion Of Common Area Convensional power to Green Power Source
One significant achievement in facility management is the successful conversion of common area conventional power supply to a 100% green power source.
KRC’s Sustainable Water Initiative Achieves Zero Discharge Through Innovative STP Upgrade
In a bid to contribute to water sustainability, KRC has implemented a comprehensive strategy to conserve, reduce, recycle, and reuse water within its operations. With only 0.5% of Earth’s fresh water available for all living beings, KRC’s commitment to optimising water usage has led to significant results.
Light Pipe Installation @ Hyderabad
Utilising daylighting technology stands out as a top-notch lighting solution for basements, enhancing visibility while concurrently minimising electrical consumption.
The Light Pipe Solar Lighting System constitutes the following components:
• Sun Light Capture System – Light Collector
• Light Transfer System
• Light Diffuser
• Roof Kerb
• Fixing Accessories
Real Time Automatic Weather Station
Our real-time automatic weather station provides live outdoor temperature and humidity data, enabling precise air conditioning adjustments for optimal indoor comfort and energy conservation in our complex. Two stations, located at ground and terrace levels of Building 9 in Gigaplex Airoli West, ensure comprehensive environmental monitoring.
Different types of sensors are used in the real time automatic weather station:
- Temperature Humidity Sensor
- Combined Wind Speed & Direction Sensor
- Solar Radiation Sensor
- Leaf Wetness Sensor
- Soil Moisture Sensor (Moisture & Temperature)
Research Project with IIT on Climate Risk Assessment
Advancing climate risk analysis: predicting short, intermediate, and long-term temperature trends for Mumbai’s Mindspace REIT assets.
Our research project employs an installed weather station covering a 20 km radius, utilising cutting-edge algorithms for precise predictions. Unlike traditional tools relying solely on historical data or climate models, our approach integrates operational parameters in consultation with the Mindspace group.
The study aims to identify physical risks, such as extreme weather events and rising temperatures, offering valuable insights for informed decision-making in climate risk assessments.
ESG & Sustainability Trainings for Region level
ESG Squad: A distinctive platform where members across ESG governance levels convene quarterly to review progress, address challenges, brainstorm ideas, and foster transparent collaboration. Biannual ESG Squad Meetings ensure departmental progress alignment and KPI discussions.
ESG Regional Training: Conducting ESG training sessions in Pune, Hyderabad, and Chennai empowers working groups to make informed decisions aligned with ESG requirements.
Natural Healing Camp
Successful implementation of Natural Healing Camp at Gigaplex, Airoli, on the 9th floor of building no-9.
Various services, including Blood Tests, Donations, Diet and Nutrition Consultations, BMI Assessments, Eye Testing, Physiotherapy Sessions, General Consultations, Ayurvedic Product Displays, and showcasing Healthy Natural Products were organised.
102 participants registered and benefited from the camp.
ESG Initiatives
Cultivating Skills for Enhanced Performance in Every Role in Every Role
SEED
Introducing SEED (Skill Enhancement and Employee Development), an initiative designed to empower our workforce with essential skills, ensuring increased effectiveness in their current positions.
This comprehensive program encompasses various learning initiatives tailored to different employee levels, with a primary focus on honing behavioral and managerial skills.
The programs include ‘Managing Self,’ tailored for individual contributors up to the Manager level, and ‘Managing Others,’ designed for people managers ranging from Sr. Manager to DGM. With SEED, we sow the seeds of continuous growth and proficiency across our organisation.
ESG Initiatives
SHEROES
Embarking on our mission to encompass women employees across all echelons, the second installment of the SHEROES – Expand your Potential, Women in Leadership series is thoughtfully curated for our esteemed Managers and Senior Managers.
Our overarching goal is to furnish women leaders with the essential tools and unwavering support crucial for sustainable development, aiming for a profound and lasting impact on their personal growth while concurrently making substantial contributions to the overall advancement of the organisation.