Real estate developer, Lodha, has received net-zero targets validation by the Science Based Targets Initiative (SBTi).
Lodha’s journey towards net zero includes a near-term commitment to a 97.9% reduction in Scope-1 and -2 emissions by FY2028 and a 51.6% reduction in Scope-3 emissions by FY2030. The long-term net-zero targets are aligned with the 1.5°C goal outlined in the Paris Agreement, essential in mitigating global warming and climate change impacts, the company said in a press release.
Aun Abdullah, Head, ESG, Lodha said, “This milestone not only strengthens the credibility of our net-zero goals but also underscores our vision to redefine urban development, creating a sustainable low-carbon future for all.”
It must be noted that Lodha was also recognized as a Global Sector Leader, ranking first among developers in Asia on the GRESB Development Benchmark 2023. The developer also earned a spot among 17 leading companies in the Dow Jones Sustainability Index (DJSI) 2023 with a score of 77 out of 100 in the S&P Global Corporate Sustainability Assessment (CSA).
Lodha has crystallized its vision of ‘Building a Better Life’ by collaborating with Rocky Mountain Institute (RMI) to create the Lodha Net Zero Urban Accelerator, its flagship decarbonization platform that brings industry, experts, and policymakers together to help create a net zero future for all.