Real Estate Firm Lodha Group and RMI Launch Accelerator to Propel India’s Buildings toward Zero Carbon
The Net Zero Urban Accelerator aims to generate market-driven scalable solutions to aid India’s goal of reaching net zero by 2070.
Mumbai, India – July 12, 2022
RMI has announced a technical partnership with Indian real estate firm, Lodha Group, to launch the Lodha Net Zero Accelerator to speed up adoption of sustainable practices in real estate, in line with the Lodha Group’s commitment to achieving carbon neutrality in its operations by 2035.
The accelerator will bring together stakeholders and industry players to collaborate on design, research, and development to mobilize action on the massive scale needed to combat the climate crisis. The engagement with industry stakeholders will be around technologies, business models, financing, and programs to accelerate net-zero implementation.
Commenting on the launch, Amory Lovins, RMI cofounder and chairman emeritus, states, “This unique Accelerator can demonstrate that through collaboration, integrative design, and efficiency as a first resource, growth and prosperity will increase greatly while carbon and emissions intensity decline toward zero. Lodha’s leadership can be a lighthouse for India and the world.”
Considering real estate contributes about one-fifth of India’s total emissions, this model of work can generate scalable solutions across the whole system of urban real estate impact, including circularity and embodied carbon, passive designs, ultra-efficient equipment, clean energy, and zero-carbon mobility.
Mr. Abhishek Lodha, managing director and CEO of Lodha Group, said, “As a responsible developer, we recognize the crucial role that the real estate sector plays in minimizing the risks posed by climate change to our planet. Aiming to build a better life for everyone, we established a North Star goal of becoming carbon neutral by 2035, and the launch of the Lodha Net Zero Urban Accelerator is a major step in this direction to drive collaborative, large-scale solutions for a greener future. In addition to our long-standing association, RMI is the perfect partner in this journey due to its decades of global expertise in fast-tracking the adoption of market-based solutions.”
India has a late-comer advantage in the real estate sector as about 70 percent of the buildings that will exist in India by 2030 have not been built yet. The accelerator will grasp the opportunity to create whole-system roadmaps and tactical playbooks that will ultimately drive a proliferation of net-zero commitments and initiatives across the industry and policy ecosystem.
The dedicated microsite will shed light on sustainability in real estate, and feature content from upcoming workshops, action plans, and progress made.
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RMI is an independent nonprofit founded in 1982 that transforms global energy systems through market-driven solutions to align with a 1.5°C future and secure a clean, prosperous, zero-carbon future for all. We work in the world’s most critical geographies and engage businesses, policymakers, communities, and NGOs to identify and scale energy system interventions that will cut greenhouse gas emissions at least 50 percent by 2030. RMI has offices in Basalt and Boulder, Colorado; New York City; Oakland, California; Washington, D.C.; and Beijing.
Lodha is among the largest real estate developer in India that delivers with scale since 1980s. Core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing. The Group also has a growing industrial & logistics park business where in a short span of time, it has scaled up and made its mark with JVs already signed with marquee investors. Lodha Group has delivered more than 85 million square feet of real estate and is currently developing ~95 million square feet under its ongoing and planned portfolio. The Group has approximately 4400 acres of land beyond its ongoing and planned portfolio which will be utilized in developing further Residential, Commercial and Industrial & Logistics spaces. Thriving at building the world’s finest developments, Lodha has created several iconic landmarks across the MMR notable among which are The World Towers, Lodha Altamount, Lodha Park, Lodha New Cuffe Parade and Palava City.