Leadership messages

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. Our spread across gateway cities and our operational depth present significant opportunities for innovation and leadership in sustainable development. In the past year, we have set ambitious targets to reduce greenhouse gas emissions through multiple decarbonization levers such as enhanced use of renewable energy, which we have committed to achieve 100% across our India portfolio by 2027 as a step towards our overall target of Net zero by 2040 or sooner. I am proud to share that we have achieved a reduction in (Scope 1/Scope 2) GHG emissions intensity by 47% through cleaner energy sources and resource-efficient technologies.

We are committed to establishing Science-Based Targets for our portfolio and have formally submitted these targets for our portfolio to the Science-Based Targets initiative (SBTi) for validation. We have completed embodied carbon assessments for our ongoing projects and refined our development standards to optimize sustainability. This includes implementing both active and passive design strategies, as well as the judicious use of materials like cement and steel to minimize environmental impact.

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.

We proudly launched the “Earth Forward – ESG Dialogues”, a thought-provoking series in collaboration with The Economic Times. This initiative brings together key changemakers from across India and our esteemed occupiers, aiming to elevate ESG conversations beyond the boardroom and into everyday lives, inspiring meaningful action and awareness.

Our campuses proudly hosted Qriosity, India’s largest corporate campus quiz, which brought together over 2,000 participants from more than 450 organizations. The event culminated in an exciting grand finale at our Candor TechSpace campus in Sector 48, Gurugram. 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, from start-up to scale-up. Together, we are building a more inclusive future that benefits both our employees and the communities we serve.

Digital transformation in action

We have initiated a multi-year plan to transform our assets into fully digital-ready ecosystems, enhancing operational efficiency and tenant experience. This journey begins with real-time displays of Indoor Air Quality (IAQ) across all our buildings in India, ensuring transparency and wellness. We are implementing automated meter readings for utilities, integrated dashboard analytics for actionable insights, and piloting advanced technologies like smart cameras and occupancy sensors. These innovations aim to optimize energy usage, enhance safety, and improve space utilization, reinforcing our commitment to leveraging technology for smarter, sustainable spaces.

Celebrating excellence and innovation

We are honored to be recognized as Green Champions by the Indian Green Building Council (IGBC) for our role in promoting the net-zero movement in India. This year alone, we received over 95 awards, recognitions and certifications for our sustainability initiatives. We believe that innovation is vital in addressing global challenges such as climate change and social inequality. This year, our Innovation “Ideathon” garnered over 240 entries from our team members , reaffirming its position as a pivotal employee engagement platform that encourages “looking within.” Our goal is to empower teams to push past their thought barriers, fostering a culture of ideation, innovation, and workplace transformation.

Commitment beyond today

As we move forward, sustainability will remain central to our business strategy. The challenges ahead are significant, but so are the opportunities they present. By prioritizing sustainability, we aim not only to create long-term value for our stakeholders but also to contribute positively to the planet and society.

I extend my heartfelt gratitude to all our employees, partners, and stakeholders whose dedication drives our sustainability initiatives forward. Together, we can forge a path toward a more sustainable and equitable future for all. Let us continue to collaborate and inspire one another as we build a better world for generations to come.

Sincerely,

Managing Director & CEO
Brookfield Properties
India

Dear Readers,

We are proud to present our Sustainability Report for the Financial Year 2023-24. The report reflects our expanding focus on protecting the environment and helping communities in which we do business. Our commitment to sustainability is driven by our resolve to set ambitious targets, measures and report progress transparently while engaging our numerous stakeholders to drive change.

Building a greener tomorrow

As Financial Year 2023-24 brought new opportunities and challenges, we were encouraged by the advancements being made in technological solutions that supported the transition to a low-carbon economy and our carbon emissions reduction goal.

By implementing strategies that minimize resource consumption, reduce waste, and promote renewable energy, we strive to build a greener future. Key initiatives such as enhanced waste management practices, water conservation efforts, and achieving ambitious Net Zero goals reflect our dedication to protecting the environment. Through these efforts, we aimed to not only mitigate our ecological footprint but also inspire and empower our stakeholders to join us in fostering a more sustainable world.

As we execute our long-term strategy to deliver net zero emissions across our business we are committed to reducing our emissions by powering 100% of our office portfolio with clean energy sources by 2027.

Water and waste management

We believe in the future of possibility—a future where our planet is healthy, our global communities thrive and every business leads with purpose.

With a goal to achieve over 97% landfill diversion by 2025, we are proud to share that 25% of our portfolio has already reached this milestone. Driving this progress are key initiatives, including enhanced occupier engagement, targeted training sessions, vendor site visits, and the modernization of on-site waste treatment infrastructure.

Water sustainability is equally central to our approach. Leveraging tools like Aqueduct, we conducted extensive water risk assessments to better understand and mitigate challenges. Complementing these efforts, we rolled out pilot projects to advance water neutrality. These include implementing tenant-level water metering to analyze consumption patterns and detect potential leaks, enhancing rainwater harvesting systems, and optimizing sewage treatment plants to improve efficiency and savings.

Making a positive impact

At the heart of our business is our commitment to our greatest asset—our people. Our workplace culture empowers our people to bring their best and authentic selves to work each day, which reflects the progress we’ve made in creating an environment that welcomes inclusion, celebrates diversity, and encourages innovation. We believe accessibility is fundamental to inclusivity. This year, we took significant strides by integrating accessibility features into our website to ensure it is user-friendly for everyone. A majority of our buildings are now equipped with enhanced accessibility features, with a target to achieve 100% by 2025. These upgrades included tactile guides from entry points to elevators, dedicated accessible elevators, high-contrast signage with Braille, availability of staircase-wheelchairs for emergencies.

We strive to be an employer that has a positive impact on our planet and the lives of the people we touch. Through the Shalini Fellowship, we supported 57 young women, providing personal mentoring to enhance their academic, career, and life skills, preparing them for a brighter future. Our partnership with the Earth Saviours Foundation further deepened, enabling us to positively touch the lives of over 500 individuals in need. These efforts reflect our commitment to empowering communities and driving positive, lasting change.

Sustainable procurement and supply chain engagement

This year marked the launch of our supply chain engagement program for tier-one vendors across India. Centered on the themes of Decarbonization, Digitalization, and Deglobalization, the program fosters collaboration to achieve our Net Zero targets, with a particular focus on Scope 3 emissions mapping and reduction. We look forward to deepening our partnerships and advancing the decarbonization of our supply chain.

Looking ahead

As we reflect on FY 2024, we are proud of the progress made and remain energized by the challenges ahead. Together with our stakeholders, we are committed to building a sustainable future—one that prioritizes inclusivity, environmental stewardship, and resilience. We also recognize that technology is reshaping the real estate industry, and we are actively exploring innovative solutions to enhance operational efficiency, optimize tenant experiences, and drive superior returns.

Best Regards,

Executive Vice President, Operations
Brookfield Properties
India