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Mindspace Business Parks REIT joins global RE100 initiative led by Climate Group

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Mindspace Business Parks REIT has joined the global RE100 initiative led by Climate Group in partnership with CDP. RE100 brings together the world's most influential businesses, driving the transition to 100% renewable electricity.

With this, it has committed to transform to 100% renewable electricity use across all areas serviced and maintained within the Mindspace Business Parks REIT portfolio, by the year 2050. Mindspace REIT will also make renewable energy accessible to tenants who choose to avail of the green power.

The announcement further strengthens the entity's commitment towards mitigating environmental impact across project lifecycles, in sync with the mission of RE100, which is to accelerate change towards zero carbon grids at scale.

The first Indian real estate entity to pledge to RE100, Mindspace Business Parks REIT has set phase-wise targets for the transformation.

It will source 35% of total energy requirement from renewable sources by 2025, 50% by 2030, and 100% by 2050. The entity currently sources approximately 10% energy through renewable sources like solar energy and renewable energy certificates (RECs). With this move, it endeavours to fortify its commitment to sustainability, by sourcing power through green energy tariffs and solar energy.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, June 24 2021. 11:28 IST