January 19, 2024: The Associated Chambers of Commerce and Industry of India (Assocham) and the Confederation of Real Estate Developers’ Associations of India (Credia) today signed a Memorandum of Understanding (MoU) to contribute to the long-term development in the Indian real estate sector during the Assocham GEM 6th International Sustainability Conclave and Expo 2024 at New Delhi.
The GEM green building certification program is a sustainability initiative of Assocham. It is an indigenous program based upon BEE ECBC 2017 and NBC 2016 and includes sustainability, energy and water efficiency, fire and life safety, indoor air quality, daylight, fresh air and human comfort. Assocham awards GEM Green Building Certification Rating, to all GEM compliant buildings.
The key objective of the MoU signed between Assocham and Credai is the creation and promotion of training and educational programmes focused on sustainability and related topics. These projects seek to improve industry knowledge and skills while also actively contributing to the larger goal of encouraging sustainable practices in the corporate community. To encourage widespread participation and raise awareness, Assocham and Credai will actively promote these training programmes among their member organisations.
The partnership extends beyond India, with Assocham and Credai working together to create and participate in global conferences and exhibitions. This strategic alliance seeks to strengthen national and worldwide cooperation between the organisations and their respective members, as well as to provide a forum for presenting industry expertise and cultivating global connections.
Milind Bhikanrao Deore, secretary, BEE, ministry of power GOI, said, “India’s commitment to sustainable infrastructure is a noble cause, underscored by its vital need for and importance of the current global scenario. As a developing nation experiencing robust economic growth of 6-8%, India faces a unique challenge. By 2030, its urban population is expected to swell to 600 million, necessitating the creation of additional infrastructure. This includes 3 lakh square foot (sqft) of commercial space, contributing 6-7% to its GDP. Remarkably, the valuation of this sector in India is among the world’s largest. Buildings in India account for 34% of electricity usage and are the second-largest source of emissions, with the country’s total emissions standing at around 2500 million metric tonne.”
“Astonishingly, 32% of these emissions are attributed solely to buildings. The main purpose of this sustainable infrastructure drive is to implement and regulate energy usage effectively. In the context of energy efficiency, the cement industry in India stands out as one of the most energy-efficient globally. This commitment to sustainability is further evidenced by India’s ranking of 4th in the Climate Change Performance Index, highlighting its significant strides in addressing climate challenges”, Deore added.
Atul Bagai, head UN environment programme, country office India, said, “The current need for CO2 emissions reduction and sustainable infrastructure is imperative to address climate change and ensure environmental resilience. As global carbon levels rise, sustainable infrastructure becomes essential for minimising ecological impact, promoting energy efficiency, and fostering long-term socio-economic stability. Governments, industries and communities worldwide are recognizing the urgency to transition towards greener practices, emphasising renewable energy, eco-friendly transportation, and resilient urban planning to create a more sustainable future.”
Pankaj Dharkar, chairman, GEM green building council, ASSOCHAM, said, “The built infrastructure sector is one of the most important drivers of economic growth and social development, but also one of the most resource-intensive and environmentally impactful sectors. According to the International Resource Panel, the built infrastructure sector accounts for more than 50% of global material extraction, 40% of energy consumption and 30% of greenhouse gas emissions. Moreover, the demand for built infrastructure is expected to increase. Therefore, there is an urgent need to transform the built infrastructure sector towards more resource efficiency and circular economy principles, in order to reduce its environmental footprint.”
Anupam Mittal, chairman, ASSOCHAM GEM UP, said, “Eco-friendly buildings hold larger significance for sustainability. Increased partnerships between stakeholders and green principles should be followed for infrastructure development for lowering operational costs”.
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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