Lodha and Mindspace REIT Bag Top Global Sustainability Ranking

By SN Staff

Image Credit - Outlook Business

Lodha and Mindspace REIT have been ranked as top Global Sustainability Leaders in residential and office space categories respectively. They received 100/100 in the 2023 Global Real Estate Sustainability Benchmark (GRESB) on 17 October 2023. The average Standing Investments Benchmark score is 73 and the average Development Benchmark score is 79.

Mindspace Business Parks REIT said the highest ranking includes its entire 32.1 million square feet, triple Grade A portfolio. The ranking gives Mindspace REIT the prestigious ‘Green Star’ status.

A Lodha press note said it was ranked first in Asia among the residential real estate developers with a score of 100 out of 100 in the Development Benchmark. In the Standing Investments Benchmark, it ranked 8th in Asia in the category of diversified – office/ retail with a score of 90 out of 100.

GRESB, the global ESG benchmark for real estate and infrastructure investments, released the results of its 2023 Assessments, which grew to include 2,084 real estate portfolios, 172 infrastructure funds and 687 assets, collectively representing USD 8.8 trillion in gross asset value (GAV). “GRESB sector leaders embody the industry’s champions, leading the charge towards a net-zero future and propelling the sector forward,” said Sebastien Roussotte, CEO of GRESB.

GRESB data is used by capital providers and asset managers to benchmark investments across portfolios and to better understand the opportunities, risks and choices that need to be made as the industry transitions to a more sustainable future. The assessment evaluates performance against the components of management, performance and development which have indicators allocated to one of the three dimensions of ESG.

“Benchmark growth across real estate and infrastructure this year is not just about numbers—it’s about the depth, breadth and usefulness of the data. This increasing dedication and awareness of data quality demonstrates the commitment of global real assets to transparency and sustainability on a broader scale,” said Sebastien Roussotte added.

In 2023, for the first time, GRESB increased the granularity of the information it collects on net zero, ranging from net-zero policies to commitments and targets, enabling the tracking of this data.

Net-zero highlights

  • 72% of global real estate participants have a net-zero policy in place, with 93% of participants in Oceania reporting a net-zero policy, followed by Asia and Europe with 78% and 77%, respectively.
  • Despite most participants reporting a net-zero policy, only 56% of global participants have made a public net-zero commitment and 50% have established a net-zero target.


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