Real estate developer Lodha, which is listed as Macrotech Developers Ltd., said it had set up a net zero urban accelerator at its township in Palava in the outskirts of Mumbai to enable itself and the realty sector to achieve zero emission goals ahead of the stipulated time.
The accelerator has been set up with the technical support of RMI.
The objective of the accelerator is to catalyse the adoption of sustainable practices in the Indian real estate sector.
Lodha, on its part, had committed to achieve carbon neutrality by 2035 and would invest $500 million to meet its goal, prior to the committed target, MD & CEO Abhishek Lodha said
“Palava will serve as a city-scale living laboratory to solve challenges and pioneer innovations on the path to net- zero,” the company said.
The objective of the accelerator is to catalyse the adoption of sustainable practices in the Indian real estate sector. Lodha, on its part, had committed to achieve carbon neutrality by 2035 and would invest $500 million to meet its goal, prior to the committed target, its CEO said in an interview. The accelerator will craft and deliver initiatives using facilitated multi-stakeholder engagement, integrative design, and research and development.
The engagement with industry stakeholders would be around technologies, business models, financing, and programmes to accelerate net-zero implementation. The information will be shared with the industry free of cost. “With the launch of the accelerator, Lodha envisions taking a leadership stance by offering an urban development template that can demonstrate — to India and to the world — that growth decoupled from emissions is possible, thus, advancing liveability, and staying true to its promise of building a better life,” the developer said in a statement.
“As a responsible developer, we recognise the crucial role that the real estate sector can play in minimising the risks posed by climate change to our planet,” Mr. Lodha said. “Aiming to build a better life for everyone, we established a North Star goal of becoming carbon neutral by 2035, and the launch of the Lodha Net Zero Urban Accelerator is a major step in this direction to drive collaborative, large-scale solutions for a greener future,” he said. “The accelerator is formulated with an overarching goal to make net-zero carbon development the new normal, thereby, maximising the sector’s contribution towards India’s 2070 net-zero emissions target, while also increasing resilience, health, affordability, and energy services,” he added. Amory Lovins, co-founder and chairman emeritus, RMI said, “This unique accelerator can demonstrate that through collaboration, integrative design, and efficiency as a first resource, growth and prosperity will increase greatly while carbon and emissions intensity decline toward zero.” “Lodha’s leadership can be a lighthouse for India and the world,” he added.
Considering that about 70% of buildings that will exist in India by 2030 have not been built yet, the accelerator is expected to grasp the opportunity to create roadmaps and tactical playbooks that will ultimately drive net zero related initiatives across the industry and policy ecosystem.
