Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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Sustainability across environmental, social, and governance dimensions is no longer a compliance exercise, it is now proven that by focusing on sustainability, companies can expand their impact, boost their competitiveness, and help build a better future for humanity.

Real estate sector not only is the primary consumer of hard-to-abate sectors (cement, steel, etc.) but it also consumes nearly half of all electricity produced in India. It holds enormous environmental and social opportunities that will result during massive urbanisation, as India, which already has nearly one-third of its population living in cities, tips the urbanisation scale by becoming more than 50% urban by 2050.

Integrated and smart urban ecosystems can give opportunities to live, work, learn and play to aspiring families. Social housing can also be transformed into integrated pools of productivity which can have their own growing economy and an enhanced sense of equality.

Such affordable housing clusters within large metropolitan areas are an antithesis to the unorganized urban sprawl which not only leads to appropriation of farm or forest lands, but also leads to long commute for the residents. Often the city infrastructure plan, that includes services as well as public transportation, doesn’t catch up with the expansion of the sprawl and the residents have to bear with substandard living conditions. These developments can be close to job opportunities and where the environment is ripe for liveability.

Promoting diversity and gender equality can help organizations access a wider pool of talent, that can bring in perspectives that are more customer friendly and that can ultimately enhance brand reputation and give a competitive advantage to the organization. Helping the next generation with education can help India become the world’s third largest economy within the next two decades.

Keeping climate risks, physical and transition, as a central issue, responsible organizations are already announcing their carbon neutrality goals. India has also recently released its revised NDCs,  India’s long-term goal is to reach net-zero by 2070, while reducing the Emissions Intensity of its GDP by 45 percent by 2030 from 2005 levels.

Lodha too has committed to be a carbon-neutral company by 2035 and has developed Lodha Net Zero Urban Accelerator with technical support from Rocky Mountain Institute (RMI), that is focussing on passive designs, efficiency, renewable integration, reduction of embodied carbon and green mobility. Today, more than 50% of Lodha’s energy needs are catered through renewable sources and all its projects come under the ambit of green certifications. Lodha also aims to drive gender diversity to >44% (excluding construction workforce) by 2027. ‘Lodha Brain Gain’ program aims to support exceptional students and mentor them to get into top educational institutions like IITs and the IIMs. We are also enhancing our focus to create upskilling and employment opportunities especially for women so that they can strengthen themselves, and in turn, strengthen our society and nation.

Authored by

Aun Abdullah, Head-ESG, Lodha.

 

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members