– By Murali Krishna
India’s commercial real estate boom is booming, but with a concerning environmental shadow. Studies by McKinsey show this sector contributes a staggering 40% of global carbon emissions. However, there’s a beacon of hope: green building certifications. These programs act as roadmaps for constructing eco-friendly workplaces, fostering a sustainable future for Indian businesses and the planet.
Green building certifications focus on three core areas:
Energy Efficiency: Imagine offices bathed in natural light, equipped with energy-saving appliances, and controlled by smart technology that optimizes energy use. Green buildings make these realities. Take, for example, Infosys’ Hyderabad campus, the world’s first LEED Platinum certified IT SEZ building. It boasts a unique double-skin facade that minimizes heat gain and maximizes natural daylight, significantly reducing energy consumption.
Water Conservation: Green buildings treat water as the precious resource it is. They utilize low-flow faucets, harvest rainwater for irrigation, and implement water-efficient landscaping strategies. For instance, ITC’s Green Centre in Gurgaon, India’s first LEED Platinum-rated building, utilizes rainwater harvesting to meet 100% of its landscaping needs.
Sustainable Materials: The materials used to construct an office have a significant environmental impact. Green certifications encourage the use of sustainable, recycled-content, and locally-sourced materials to minimize transportation emissions. The World Trade Centre Noida, India’s first LEED Gold certified commercial building, exemplifies this by utilizing recycled steel and fly ash for construction, minimizing its environmental footprint.
The benefits of green buildings extend far beyond environmental conservation. They translate into tangible financial gains for businesses. Reduced energy and water usage result in lower utility bills. Furthermore, with a growing environmentally conscious consumer base, green buildings are highly sought-after by tenants. This translates to higher rental income and property values for building owners. Major commercial players like Brookfield, Blackstone, and GIC are recognizing this trend and prioritizing green certifications for their office spaces.
Green buildings offer additional advantages:
Enhanced Reputation: Green certifications showcase a company’s commitment to sustainability, bolstering its brand image and reputation.
Future-Proofing: Environmental regulations are constantly evolving, and green buildings ensure effortless compliance with these evolving standards.
Technology is further revolutionizing green buildings:
Smart Energy Management: Companies like Smart Joules provide systems that automatically adjust energy usage based on occupancy and time of day.
Intelligent Water Management: Waltr helps identify leaks, promotes water-saving practices amongst employees, and utilizes IoT technology to detect and address water leakages efficiently.
Employee Wellbeing: Caleedo leverages technology to monitor air quality and temperature, fostering a healthy and comfortable work environment that enhances employee well-being.
Wireless Security Solutions: Companies like Spintly offer wireless security systems, eliminating construction waste associated with traditional wired systems.
The demand for green workspaces and employee well-being is on the rise, particularly among international companies seeking office space in India. This trend is prompting Grade A office buildings to embrace these advancements. Industry leaders recognize that going green is not just environmentally responsible, but also sound business practice.
Embracing green building certifications and PropTech solutions allows developers and investors to construct and manage eco-friendly offices. These sustainable practices translate into cost-effectiveness, attract top tenants, and ensure long-term success. This commitment to sustainability will shape the future of India’s office space, paving the way for a healthier and greener tomorrow for all.
(Murali Krishna is Principal at Spyre VC.)
(Disclaimer: Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited.)