NATURAL CAPITAL

Lead on Sustainable Solutions

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Environmental sustainability reflects our commitment to using resources efficiently while preserving the ecosystem and biodiversity. It calls for a proactive approach to reducing environmental impact, strengthening resilience, and protecting clean air, water, and soil. Our efforts, rooted in innovation and accountability, aim to foster healthier communities and a thriving planet. Developing efficient and resilient spaces enables us to meet evolving tenant needs and contribute meaningfully to long-term sustainability.

CLIMATE RISKS AND OPPORTUNITIES

Climate change presents a significant challenge, requiring proactive strategies to build resilient and sustainable businesses. Our climate strategy is guided by the Task Force on Climate-related Financial Disclosures (TCFD) framework. We focus on designing, operating, and upgrading assets to withstand environmental risks – enhancing resilience, reducing operational costs, attracting quality occupiers, and preparing for future demands.

In FY 2022-23, we conducted a comprehensive climate risk assessment across our portfolio, evaluating both physical and transition risks, including exposure to earthquakes, floods, heat stress, and sea-level rise. Based on these findings, we maintained the same risk ratings and action plans for FY 2023-24, with the next update scheduled for FY 2025-26. These insights continue to guide our approach to managing climate risks and uncovering opportunities across short-, medium-, and long-term periods.

Physical risk Key risks identified Transition risk Timeframe considered
  • CRREM 1.5C
Transition risks
  • Energy efficiency
  • Renewable energy sourcing
Physical risk
  • Flood
  • Heat stress
  • Fire stress
  • RCP 2.6
  • RCP 4.5
  • RCP 8.5
  • Short term (2023-2030)
  • Medium term (2030-2050)
  • Long term (2050-2100)
Case Study

CLIMATE RESILIENCE THROUGH EFFECTIVE FLOOD MITIGATION

In line with our climate resilience goals, we partnered with Climate B Ventures – an early-stage climate tech startup founded by IIT Kharagpur and IIT Roorkee alumni – to pilot an innovative flood mitigation project. Focused on the 1-in-100-year rainfall scenario, the initiative uses drone-based topographical scans and detailed drainage surveys to develop a robust hydraulic and hydrogeological model. This data-driven approach helps us understand floodwater runoff patterns and implement targeted infrastructure improvements across our office parks.

The pilot also enables long-term environmental and operational benefits. By identifying natural runoff zones, we plan to introduce bio-swales, permeable surfaces, and increase green cover to enhance stormwater absorption. Additionally, the insights will support the expansion of rainwater harvesting systems, both onsite and offsite. This initiative reflects our proactive, science-based approach to mitigating climate risks while advancing sustainable, resilient real estate practices.

GHG Emissions

Managing emissions is essential for tackling climate-related risks in business operations. Our focus is to understand our emissions profile to set goals, prioritize actions, and invest in sustainable solutions to combat climate change.

We are building a comprehensive GHG emissions inventory to identify key emission sources and reduction opportunities across both direct and indirect emissions. This supports our net-zero roadmap by enabling data-driven goal setting and action prioritization. In FY 2024-25, we plan to shift from portfolio-wide assessments to asset-level decarbonization, with a focus on emissions from operations and the supply chain as part of our broader climate strategy.

Our Net Zero Emissions Program

Our net zero program prioritizes energy reduction and renewable energy procurement, guided by a three-pillar decarbonization strategy:

  • Energy Efficiency and End-of-Life Upgrades
    • Direct investment in high-ROI projects
    • Replacing equipment with more efficient alternatives at end of life
    • Supporting occupants in adopting energy-saving initiatives
  • Renewable Energy Procurement
    • Procuring green energy for both common areas and occupier spaces
  • Judicious Use of Carbon Offsets
    • Offsetting residual emissions through carbon credit purchases to achieve net zero
Key Findings from Asset-Level Decarbonization Assessments
  • Electricity consumption (Scope 2 for common areas and Scope 3 for tenant spaces) remains our largest emissions source, validating our current renewable strategy
  • Scope 3 reporting has expanded to include purchased goods, capital goods, and employee commute, per the GHG Protocol
  • Improved grid stability and power availability are expected to reduce reliance on diesel generators, lowering Scope 1 emissions

37%

REDUCTION IN EMISSION INTENSITY FROM BASELINE YEAR

83,293 metric tons of CO2

EMISSIONS AVOIDED IN FY 2024-25 THROUGH SUSTAINABILITY INITIATIVES

Advancing our commitment to climate action, we submitted our near-term (2030) and net zero (2040) targets to SBTi for validation.

Energy consumption and emissions are closely linked, making it essential to reduce energy use to achieve meaningful emissions cuts. Our decarbonization strategy takes a two-pronged approach: lowering energy intensity by reducing demand and increasing the share of renewable energy in our portfolio. By focusing on green non-fossil fuel-based energy, we are driving sustainable progress across our operations.

On the supply side, we are committed to achieving 100% renewable electricity across our portfolio by 2027. To support this goal, we have secured a long-term agreement to procure clean power from the Brookfield Renewable Bikaner Solar Power Project in Rajasthan, serving our office parks in the National Capital Region. This arrangement provides occupants with direct access to traceable renewable energy. We also source through open access, the Indian Energy Exchange (IEX), DISCOMs’ green tariffs (REGO), and purchase International Renewable Energy Certificates (I-RECs), covering energy needs in both common and occupier areas.

ENERGY EFFICIENCY

On the demand side, we have implemented energy efficiency and conservation measures across our operations. We actively engage employees and occupiers through training programs to raise awareness and promote energy-saving behaviors. By supporting occupiers in achieving their Net Zero goals, we aim to remain their preferred partner for sustainable growth.

Our Interventions
Smart energy sub-metering to detect leakage and losses
100% LED lighting in common areas, including exterior and basement parking
Automated indoor parking and outdoor lighting with timers
DG set automation via SCADA for optimized operation
High Solar Reflective Index (SRI) roofing to reduce cooling loads
Variable Frequency Drives (VFD) in chillers and pumps for efficient partial load operation
Chilled water ring connecting buildings for optimized chiller use
Electrostatic filters with energy-efficient electronically commutated (EC) fans using BLDC motors
Case Study

EMBRACING OFFSITE RENEWABLE POWER THROUGH INDIA’S FIRST INTERSTATE TRANSMISSION SYSTEM (ISTS) TRANSACTION

As part of our commitment to achieving Net Zero emissions by 2040 and enhancing energy security, we have integrated renewable energy into our tech hubs through a long-term contract with the Brookfield Renewable Bikaner Solar Power Project (BRBSPP) in Rajasthan, boasting a capacity of 550 MWp. This bilateral agreement represents India’s first commercial and industrial renewable energy transaction under the Interstate Transmission System (ISTS). As part of Brookfield’s broader goal to reach 100% renewable energy by 2027, the Noida campuses – Candor TechSpace, Sector 62 and 135 – are the initial beneficiaries, with plans to expand similar initiatives across other Brookfield sites.

40%

ELECTRICITY CONSUMPTION AT TWO NOIDA CAMPUSES IS SOURCED FROM SOLAR

11,000 metric tons of CO2

EMISSIONS ESTIMATED TO BE REDUCED ANNUALLY

We recognize water as a finite resource, especially in urban areas where our assets are located. This understanding shapes our water management strategy, guided by the 4R philosophy: Reduce, Reuse, Recycle, and Replenish. Our long-term goal is to replenish more water than we consume, moving towards water-positive operations.

894,612 kl

WATER RECYCLED ACROSS OUR PORTFOLIO DURING FY 2024-25

Reduce
  • Low-flow, sensor-based fixtures and aerators to cut consumption
  • Drip irrigation to improve water efficiency
  • Landscaping with native, drought-tolerant species to lower demand
  • IoT-based water meters for precise tracking and waste reduction
Replenish
  • Rainwater harvesting pits for surface and rooftop runoff to recharge groundwater
Recycle & Reuse
  • Sewage Treatment Plants with ultrafiltration providing high-quality non-potable water for flushing, irrigation, and cooling
  • Piloted chemical-free cooling tower water treatment using Sequencing Batch Reactor (SBR) technology and photocatalysis at one of our facilities. This ensures the reused water meets safety standards and helps regulate important parameters like Chemical Oxygen Demand (COD) and Biological Oxygen Demand (BOD)
  • Reuse of condensate water from Air Handling Units in high-humidity areas
Case Study

SMART WATER MANAGEMENT THROUGH DIGITAL METERS

To advance resource efficiency, we’ve implemented IoT-enabled digital water meters across our properties, providing real-time data on consumption by time, location, and volume. An integrated dashboard allows continuous monitoring and early leak detection, enabling prompt action. This approach ensures accurate billing, identifies inefficiencies, and promotes responsible use, enhancing operational performance and supporting our long-term water conservation goals.

536

SMART WATER METERS INSTALLED ACROSS SITES

Our waste management strategy is based on the 5Rs – Reduce, Reuse, Recycle, Refuse, and Rot – which guide our efforts to minimize waste, optimize resource utilization, and divert waste from landfills wherever possible. We incorporate waste management planning at the design stage of every development to ensure long-term sustainability. A comprehensive Standard Operating Procedure (SOP) governs waste management practices, including segregation at source using color-coded bins. Our waste primarily consists of dry waste, construction and demolition (C&D) waste, and organic waste. We treat organic waste with in-situ composters that convert biodegradable material into nutrient-rich compost, which is then applied to our landscaping. Biannual testing ensures the quality of the compost. Dry and C&D waste are collected and processed through government-authorized vendors and recyclers.

We believe effective waste reduction requires active collaboration with all stakeholders. To support this, we conduct engagement events, awareness campaigns, and training sessions. Additionally, we monitor waste generation at the tenant level and share waste intensity data – measured as waste produced per occupant per day – every two weeks. This data empowers tenants to make informed decisions to better manage and reduce their waste, reinforcing our collective commitment to sustainability and operational excellence.

Our waste reduction initiatives have also yielded remarkable results, with a higher percentage of waste getting recycled year-on-year.

Case Study

CLOSING THE LOOP ON HORTICULTURE WASTE

At Candor TechSpace, Sector 21, Gurugram, a 656 sq.ft. aerobic composting unit exemplifies our commitment to sustainable waste management. Spread across 28.5 acres, the campus generates significant horticultural waste, including grass clippings, leaves, and small branches. Instead of relying on offsite disposal or harmful practices like open burning, we have adopted a structured composting process involving shredding, bulking, moisture regulation, and natural decomposition. A mobile shredder, capable of handling branches up to 3 inches thick, ensures efficient on-site processing across the campus.

This initiative yields over 1,000 cu.ft. of nutrient-rich compost annually, fully meeting the landscaping needs of the campus. By closing the loop on organic waste, the system enhances soil health, supports robust plant growth, and significantly reduces our carbon footprint. More than just a waste solution, this scalable model demonstrates how thoughtful, low-impact interventions can deliver long-term environmental and operational benefits.

28.5 Acre

CAMPUS FULLY SUPPORTED WITH IN-HOUSE COMPOST

1,000+ cu.ft.

NATURAL COMPOST GENERATED ANNUALLY

Reduce
  • Awareness program on zero single use plastics for tenants to eliminate single use plastics in offices, food courts and retail outlets
  • Monthly data being shared with tenants for dry and wet waste generation per capita and engaging with them for ensuring less wastage including cafeteria food waste as well as packaging waste
Reuse & Recycle
  • Recycled product kiosks that showcase recycled items such as pens, notebooks and pencils
  • Plastic bottle reverse vending machine in food courts to collect the plastic disposable bottles
Refuse & Rot
  • Organic waste shredders that reduce the volume and increase the surface area to produce fine compost material
  • In-situ waste composters to treat organic waste
Case Study

RAISING AWARENESS ON CIRCULARITY

We hosted a Waste Management Contest across six assets on World Environment Day to advance our goal of a ‘Net Zero Waste’ campus. This initiative honored 18 occupants for outstanding waste segregation and safe disposal, highlighting the role of individual and collective responsibility in environmental stewardship. Beyond recognizing best practices, the contest cultivated tenant accountability and awareness. We reinforced our commitment to reducing landfill impact and strengthening operational sustainability throughout our portfolio.

6

ASSETS

18

TENANTS RECOGNIZED

Biodiversity strengthens ecosystem resilience, supports climate action as a natural carbon sink, and provides vital resources for businesses and communities. Recognizing its importance, we have adopted a biodiversity policy that integrates conservation into our operations and decision-making.

We do not own, lease, or manage properties within or near protected areas or regions rich in biodiversity. All our assets are located on designated use land parcels, where we strive to minimize ecological impact.

For this, we have created six biodiversity enhancement strategies to achieve our biodiversity goals. Each strategy is backed by action plans and comprehensive implementation and management guidelines.

Objectives
  • Contribute to global climate regulations
  • Support regional native floral species
  • Increase green cover
  • Manage invasive species
  • Enrich habitat quality
  • Create a habitat that supports the surrounding faunal species
A - capital action plans
  • Canopy expansion
  • Pergolas/green tunnels
  • Green roofs
  • Increasing tree cover
  • Green facade/hedge plantation
  • Adopting low intensity lights
  • Promoting heterogenous environment
  • Spread awareness on biodiversity
  • Native/Adaptative non-invasive Species
  • Bird Nesting & Population
  • Carbon Sequestration
  • Urban Heat Island (UHI) mitigation
Strategies
  • Maintain a Simpson’s Biodiversity Index near 1, indicating high floral species diversity and evenness
  • Conduct regular censuses of plants and trees to monitor species variety and abundance
  • Plant native trees and shrubs to enhance greenery and support local wildlife habitats
  • Expand green spaces through densification and improved ecological connectivity
  • Apply the Miyawaki technique and develop green rooftops for urban farming initiative
  • Collaborate with communities, environmental organizations, and experts via CSR initiatives to boost conservation efforts
Case Study

MIYAWAKI AFFORESTATION AT DOWNTOWN POWAI, MUMBAI

We undertook a Miyawaki afforestation initiative at our Downtown Powai campus in Mumbai, celebrated on World Environment Day. The project involved planting over 1,300 native species to create a dense, self-sustaining micro-forest in an urban setting. This aligns with our broader sustainability goals of promoting ecological balance and restoring native green cover in high-density areas.

The Miyawaki method, known for rapid growth and high biodiversity, was selected to ensure lasting environmental impact. By focusing on indigenous species, the project supports local flora and fauna, improves air quality, enhances carbon sequestration, and boosts climate resilience. This afforestation effort advances our commitment to building greener, more sustainable communities.

1,300+

NATIVE SPECIES PLANTED

Ensuring the health, well-being, and productivity of our occupiers and employees is paramount. We prioritize maintaining excellent air quality through smart tools and advanced technologies. Indoor air quality (IAQ) is actively monitored in lobbies and offices, with real-time data displayed to raise awareness among occupants and visitors. By FY 2024-25, we have deployed over 82 IAQ devices across our assets, measuring VOC, CO2, PM2.5, PM10, temperature, and humidity. At our Candor TechSpace campus in Gurugram, IAQ monitors are integrated into air handling units for continuous tracking. Advanced filtration and emission control technologies further enhance air quality.

To combat outdoor pollution from industrial and vehicular sources, we have installed more than 89 Retrofit Emission Control Devices (RECDs) across our Delhi NCR assets, reducing particulate matter, carbon monoxide, and hydrocarbons by 70%.

We promote responsible construction and community-centered practices to minimize particulate emissions. These includes,

  • Debris chutes
  • Construction vehicle tyre washing
  • Closed haulage of waste and materials
  • Organized handling, storage, and responsible disposal of construction materials
  • Barricading and screening of construction sites
  • Periodic road cleaning using electric sweepers
  • Planting trees and shrubs along approach road medians
  • Sprinkling treated water on exposed soil and pathways