The increased ESG investments come against the backdrop of India's target to achieve net-zero emissions by 2070.
Bengaluru-based Urban Vault reported a 41 per cent increase in rentals for ESG-certified properties during the third and fourth quarters of FY24. It also noted that most corporations are now basing their leasing decisions on the compliance of buildings with international ESG standards.
"Urban Vault has seen a significant rise in demand for ESG-certified properties. Almost all negotiations for office spaces now include sustainability as a key metric. With more and more Global Capability Centres (GCCs) coming to India, ESG standardisation has become a norm. We are investing in ESG-compliant projects to meet the growing demand. Corporates are increasingly looking for office spaces that can contribute to their overall sustainability strategy and goals," said Amal Mishra, CEO, Urban Vault.
This story is from the July 06, 2024 edition of Business Standard.
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This story is from the July 06, 2024 edition of Business Standard.
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