On World Environment Day, India’s leading real estate developer, Lodha, proudly announced its achievement of carbon neutrality in its operations, encompassing scope 1 and 2 emissions.
This landmark accomplishment signifies a crucial step towards Lodha’s ambitious goal of becoming a net-zero carbon company by 2050. It sets a precedent for the built sector in its efforts to reduce carbon emissions, contributing significantly to India’s target of net-zero emissions by 2070. Over the past five years, Lodha has impressively reduced its scope 1 and 2 emissions by 82%. This remarkable reduction was primarily achieved by transitioning to renewable energy sources for construction activities and owned assets. The share of renewable electricity in Lodha’s overall electricity consumption soared from less than 1% to 83% between FY20 and FY24.
On this significant occasion, Lodha reaffirmed its steadfast commitment to sustainability and responsible building practices, which are integral to the company’s core values. The Head of ESG at Lodha commented, “At Lodha, we are proud to lead by example, adopting a holistic approach to sustainability that acknowledges the interconnectedness of environmental, social, and economic factors. Our focus is not merely on achieving milestones but on setting a precedent for what can be accomplished when innovation meets determination. By harnessing the power of energy efficiency, integrating renewable energy, and investing in carbon reduction projects beyond our value chain, we are not only minimising our carbon footprint but also contributing to the prosperity of local economies, thereby advancing our vision of a responsibly developed India by 2047.”
Guided by its ‘Do Good, Do Well’ philosophy, Lodha is dedicated to ‘Building a Better Life’ for everyone by creating the world’s finest developments that strike the right balance of sustainability, luxury, and innovation. This commitment positively impacts both the planet and its inhabitants. In FY24, Lodha became the first Indian real estate company to have its long-term and net-zero targets validated by the Science Based Targets initiative (SBTi). The developer has also received numerous global and national recognitions and awards for its sustainability initiatives over the years. Lodha’s journey towards carbon neutrality underscores the potential for significant environmental impact through dedicated sustainability efforts in the real estate sector. As the company continues to lead by example, it paves the way for others to follow, contributing to a greener, more sustainable future.
