The Confederation of Indian Industry’s Indian Green Building Council (CII IGBC) and the Confederation of Real Estate Developers’ Associations of India (CREDAI) took a significant step towards promoting sustainability in the real estate sector by re-signing their Memorandum of Understanding (MoU). The event, held during CREDAI’s NATCON 2024 in Sydney, Australia, aims to foster the adoption of green building practices across India, enhancing the country’s commitment to a sustainable built environment.
The MoU was signed by Mr. C Shekar Reddy, National Vice Chairman of CII IGBC, and Mr. Boman R Irani, President of CREDAI, with esteemed guests including Mr. Jeff Oatman, Chair of the Asia Pacific Network – World Green Building Council, and other key stakeholders. This partnership is poised to make a substantial impact on the implementation of green technologies in the real estate sector, setting the stage for India to emerge as a global leader in sustainable construction by 2025.
Mr. Reddy emphasized the importance of this collaboration, stating, “This MoU with CREDAI is a significant moment as this partnership will play an important role in helping India become one of the global leaders in the sustainable built environment.” The focus will be on raising awareness of Green and Net Zero concepts among CREDAI members, encouraging them to adopt suitable IGBC Green and Net Zero Rating systems in their upcoming projects.
The agreement outlines several initiatives, including support for CREDAI members in conducting high-level feasibility studies for their building projects. This will encompass various phases such as design, construction, and operations, with a clear roadmap to achieve IGBC Net Zero ratings. The collaboration will also foster local chapter activities and engage with stakeholders at the regional and state levels to propel the green building movement forward.
Mr. Irani shared his vision for this partnership, highlighting CREDAI’s extensive network of over 13,300 members across 230 city chapters in 21 states. He remarked, “Together with CII IGBC, we can effectively promote sustainability in the real estate sector and contribute to a more environmentally friendly future.” This commitment includes a target of adopting IGBC Green & Net Zero building rating systems for over 4,000 projects by 2030, translating into the addition of more than 400,000 housing units under the green development category.
In addition, the two organizations will form a joint task force to drive initiatives that further the cause of Green Building and Sustainable Built Environment in India. They will provide platforms to acknowledge unique contributions and achievements in sustainable construction and explore opportunities for mutual publications.
Mr. M Anand, Deputy Executive Director of CII IGBC, stated that this association would be beneficial for India, creating a powerful alliance that can drive the green and net zero building movement. This collaboration is expected to yield significant economic, social, and environmental benefits, paving the way for a sustainable future.
The MoU will remain in effect for three years, with provisions for renewal on mutual terms. As part of its mission to achieve net-zero embodied carbon by 2050, CII IGBC will continue to innovate building technologies, materials, and design practices that support sustainable development. This initiative aims to not only promote green building practices but also to foster collaboration among industry experts, government bodies, and academic institutions.
As India continues its journey towards sustainable development, the partnership between CII IGBC and CREDAI marks a significant stride in building a greener future for the nation
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