Ankur Gupta
Dear Readers,
As we present our third Sustainability Report, I take great pride in reflecting on the substantial impact that Brookfield India REIT is making, not only within India but also globally, as we strive to reshape the standards of sustainable real estate. In today’s rapidly evolving landscape of corporate responsibility, India is uniquely positioned to lead, and Brookfield India REIT is at the forefront, driving transformative change in the way businesses embrace sustainability. Our commitment goes beyond meeting sustainability goals in India; it is about championing these values on a global scale, showcasing how innovation from India can set new standards worldwide. At Brookfield India REIT, we are embedding sustainability into every decision we make, ensuring that our assets not only contribute to a resilient and prosperous future for our stakeholders but also inspire similar efforts across businesses.
Governance and Institutional lineage
Our governance structure combines rigorous oversight with institutional lineage, reflecting its commitment to ethical and sustainable business practices. Brookfield India REIT’s board and committees, including the Audit, Governance and Nominating, and Risk committees, play critical roles in monitoring compliance, risk management, and alignment with ESG objectives across the portfolio. This governance framework emphasizes responsible investing, where sustainability considerations are integrated at every stage, from acquisition due diligence to ongoing asset management.
Our investment ethos has remained consistent globally over the years: identify high-potential sectors, raise capital strategically, invest wisely, and ensure operational excellence. This disciplined approach drives sustainable growth and long-term value creation.
Partnership with Brookfield Renewable:
Powering India’s Transition A cornerstone of our commitment to sustainability is our synergistic partnership with Brookfield Renewable. This, first of its kind, collaboration represents a significant step forward in our journey toward a greener future, as it enables us to power our assets across India with clean, renewable energy. By sourcing energy from one of India’s largest renewable energy plants at Bikaner, Rajasthan, we are on the pathway to reducing our carbon footprint and supporting India’s transition to a low-carbon economy. This partnership not only strengthens our energy resilience but also exemplifies how we can collaborate across stakeholders such as businesses and governments to define the way forward for India’s leadership in global environment stewardship.
Setting Global Standards with Indian Innovation
At Brookfield, we view ESG as an ongoing journey of innovation and leadership that begins in India and extends across the globe. We have taken a proactive approach to decarbonization, biodiversity preservation, and digital transformation, setting new standards that are informed by our deep understanding of India’s unique challenges and opportunities. Our decarbonization efforts are action-oriented and draw on our global and local experience. This approach ensures that our assets contribute positively to the environment while also advancing India’s—and the world’s—sustainable development goals and targets.
Our forward-thinking approach also encompasses digitalization. As digital infrastructure reshapes business operations globally, Brookfield India REIT is leveraging India’s technological prowess to create smarter, more efficient spaces. These innovations, born in India, are being adapted and implemented across our global portfolio, enhancing operational efficiency, occupier experience, and supporting innovation on an international scale.
The next two decades will be pivotal for India to establish itself as a leading global player, driven by the growth of a dynamic services sector and a revitalized manufacturing industry. By 2030, India is projected to have a workforce of 1.04 billion, contributing approximately 24% of the global incremental workforce over the next decade. This demographic advantage positions India uniquely to drive economic growth. The real estate sector will play a central role in this transformation, supporting the rising demand for modernized office spaces as local businesses and multinationals enhance their operations in India. Indians are increasingly seeking high-quality work environments, improved residential options, and access to better hospitality and leisure facilities, fueling a consumption-based growth model. This shift reflects the aspirations of a growing middle class, eager to invest in elevated living.
Regards,
Managing Partner and Head
Brookfield
Asia Pacific and Middle East
Alok Aggarwal
Dear Readers,
I am pleased to present our Sustainability Report for FY 2023-24, which highlights our continued commitment to building a sustainable business in India, aligned with our global commitment to environmental, social, and governance (ESG) excellence. We believe that sustainable growth is not just a corporate responsibility but a strategic imperative, essential for long-term success.
Commitment to sustainable growth
Our journey began in India a decade ago, and we have consistently focused on embedding sustainable practices across our operations. The challenges we face, from climate change to resource efficiency, present significant opportunities for innovation and leadership in sustainable development. In the past year, we have set ambitious targets to reduce greenhouse gas emissions, enhance renewable energy usage, and minimize waste generation. I am proud to share that we have achieved a reduction in emissions by XX% through cleaner energy sources and resource-efficient technologies. Our waste reduction initiatives have also yielded remarkable results, with a X% decrease in waste generated per unit of production.
Fostering inclusion and community engagement
At Brookfield Properties, we recognize that sustainability extends beyond environmental impact; it encompasses the well-being of our people and the communities we serve. This year, we have made significant strides in fostering a diverse and inclusive workplace where every employee can thrive. Our policies prioritize well-being and work-life balance, positioning us as an employer of choice. We are equally committed to empowering local communities through education, healthcare, and economic opportunities, creating shared value that contributes to a sustainable society. Our community engagement initiatives have been enhanced through events like Qriosity, India’s largest corporate campus quiz, and the Earth Forward ESG Dialogues in partnership with Economic Times.
These initiatives not only foster connections among occupiers and societal changemakers but also reinforce our commitment to being the partner of choice for businesses at all stages of growth. Together, we are building a more inclusive future that benefits both our employees and the communities we serve.
Addressing future challenges
While we celebrate our progress, we acknowledge the ongoing challenges posed by climate risks and evolving societal expectations. We are committed to reducing our environmental footprint further and scaling up our social impact. Our goals include achieving net-zero carbon neutrality by 2040 and ensuring all buildings are fully recyclable. Collaboration is key to achieving these objectives. We will continue working closely with partners across industries to drive positive change throughout our value chain. Transparency remains a cornerstone of our sustainability efforts as we commit to regular reporting on our progress.
Recognition and innovation
We are honored to be recognized as Green Champions by the Indian Green Building Council for our role in promoting the net-zero movement in India. This year alone, we received over 95 awards for our sustainability initiatives. We believe that innovation is vital in addressing global challenges such as climate change and social inequality. Our partnerships with startups and NGOs enable us to co-create sustainable solutions across real estate.
Sincerely,
Chief Executive Officer
Brookfield Properties