Embassy REIT Pledges to Operating With a Net Zero Carbon Footprint by 2040

Embassy Office Parks REIT has committed to achieving net zero carbon emissions throughout its operating portfolio by 2040, three decades ahead of India's 2070 objective announced at the Glasgow COP26 meeting in 2021.

Embassy REIT proactively commissioned net zero investigations for its major properties in the recent year. According to the study's findings, a road to net zero has been identified, consisting of a five-point approach to be implemented throughout the company's portfolio.

*Expand the use of renewable energy sources, both internally and via third-party efforts.

*Decrease the energy consumption footprint of existing facilities by investing in energy efficiency improvements.

*Collaborate with key occupiers, suppliers, and contractors to build collaborative action plans for emissions reduction

*Incorporate a net zero analysis into pre-acquisition due diligence.

*Compensate for leftover emissions through specified initiatives

Embassy REIT announced in October 2021 a goal to use 75% renewable energy across all of its properties by FY2025. A 100 MW solar facility that already supplies energy to the company's Bangalore properties, as well as an ongoing effort to install solar rooftop panels with a combined capacity of over 20 MW throughout the company's pan-India asset base, are critical to accomplishing this goal. 

Additionally, Embassy REIT has started on an ambitious effort to minimise energy and water usage in its parks via the upgrade of lighting and cooling systems, as well as the installation of water-efficient fixtures.

"Our 2040 net zero pledge is consistent with the aims of our occupiers, investors, and other important stakeholders," stated Michael Holland, Chief Executive Officer of Embassy REIT. 

Embassy REIT's capacity to construct and operate sustainable and energy-efficient buildings gives it a clear competitive edge in a market that is increasingly focused on high-quality sustainable workplaces. We continue to play a leading role and are at the forefront of the Indian real estate sector's sustainability efforts, as shown by our latest WELL Portfolio score and our 2021 GRESB results."

Embassy REIT will aim to decrease its Scope 1 and 2 emissions directly and will collaborate closely with suppliers, contractors, and occupiers to minimise some Scope 3 emissions. 

Embassy REIT's goal for any future acquisitions is to put the asset within the ambit of its net zero commitment within five years of the acquisition's completion.