It gives me immense pleasure to present the first edition of our Environmental, Social and Governance (ESG) Report for India. With our sector estimated to contribute close to 40% of the global energy consumption and 33% of the global carbon emissions, as a responsible organization operating in the domain of developing and managing the built environment, we are committed to adopting practices that are environmentally and socially sustainable.
Our robust sustainability framework has been established on four guiding principles – lead on sustainable solutions, partner for thriving communities, empower our people and promote trust through governance; and we have integrated them well into our everyday operations across our assets.
In 2021, we announced our commitment to net zero carbon emissions by 2050 or sooner. Accelerating the transition to a zero-carbon economy to ensure that our portfolio aligns with climate action best practices, we have advanced our commitment to reach net zero emissions by 10 years to 2040. We aim to progress steadily on this key endeavor by developing asset-level decarbonization plans and initiatives, through active stakeholder participation. Our key employees have undergone in-depth sustainability training with the National Productivity Council (NPC) to ensure that we can integrate ESG into our decision-making and can deliver on our commitments sustainably. We strive to minimize our Scope 1 emissions (currently at 1% of our portfolio) by focusing on 100% electrification through sustained investments in upgrading our power infrastructure. Over 95% of our operational area is aligned with ISO 9001, ISO 14001 and ISO 45001 standards and 100% of our area are actively practicing and certified under the 5S workplace management philosophy. In our maiden GRESB participation for FY2022, we scored 100/100 in leadership, policies, risk and data reporting, building certifications, water, waste and materials aspects.
We plan to commit to carbon reduction targets approved by the Science Based Targets initiative (SBTi) by FY2023 for a 1.5 Degrees C global warming scenario.
Amongst the four pillars, positive impact on the communities in which we operate remains closest to our heart with a focus on engagement, welfare, and infrastructure. Our assets have hosted more than 0.13 M vaccinations for our employees, occupants, and their families till date through the support of our medical partners and the local authorities. Our approach to community development hinges on capacity-building and supporting programs that promote good health, digital literacy, vocational and economic independence and environmental sustainability in the areas where we operate and where we can maximize our impact. This is in addition to our support for various COVID-19 relief measures touching the lives of over 0.15 M people. We have committed to making our assets universally accessible for stakeholders with varying abilities.
Inclusion, equity, and diversity are the cornerstone of our organizational policy. All our assets are in the process of deep retrofits to make them barrier-free right from the adjacent sidewalks to the occupants’ workplace through tactile indicators, high contrast signage (including braille), dedicated parking spaces, differently abled friendly elevators and washrooms.
We believe that our employees have the power to make a difference for our business and communities and we are continuing to prioritize their well-being and growth. Several trainings on subjects ranging from safety to job-specific skills, have been imparted – and garnered positive feedback from attendees – during the year. Our employee-friendly policies including the ‘higher studies policy’ and the employee well-being assistance program has been well received.
Our comprehensive occupational health, safety and wellbeing program, focusing on ‘Zero Serious Safety Incidents’, is based on a risk mitigation-oriented framework. The program has evolved throughout the years and I am happy to share that we have been recognized by the British Safety Council (BSC) with 3 Swords of Honour for our assets in Gurgaon, Noida and Kolkata. We aim to achieve 100% coverage of the portfolio by FY2024.
Additionally, from a governance perspective, I am pleased to share that 100% of our vendors and contractors have ratified our Code of Conduct and 99% of our supply chain is localized and based near our assets.
As we look forward to yet another year with renewed aspirations, we believe that acting responsibly is foundational to operating a productive, profitable and sustainable business. We have always believed that value creation and sustainable development are complementary goals and as we look forward to achieving our net zero vision by 2040 or sooner. I would like to extend my gratitude to our employees, associates, customers, communities, and all stakeholders for their continued support.
Executive Vice President Operations
Brookfield Properties | India