The real estate industry consumes more energy than any other industry and is a major source of CO2. Measuring CO2 emissions is difficult, most estimates indicate that the real estate sector is one of the major contributors.
Real
estate is an important part of urban growth since it consumes physical
resources and emits a lot of pollution. It is also critical to achieving the
objective of establishing a future that is environmentally sustainable.
According
to World Economic Forum's report, “There is a critical need to avoid severe
climate change by keeping global average temperature rise below 2 degree
celsius. We should work on the current trend in global net GHG emissions is
incompatible with this goal. The real estate sector is responsible for more
than 20% of global carbon emissions, as well as other environmental impacts
such as waste creation, pollution, water use, and natural resource
consumption."
The
real estate business does not consider environmental sustainability while
making decisions is really a wrong assumption. There has been a substantial
movement in development toward the creation of more environmentally sustainable
buildings.
The
percentage of new green commercial properties are projecting to climb even
further. According to Anuj Goel Ganga, the managing director of Goel
Ganga Developments, all of their projects are using newer technologies to
reduce their carbon emissions.
Shaping the narrative of Indian real estate sector
The
Indian real estate industry has taken notice of the situation. So, it is
gradually implementing more green practices in their operations and creating
ecologically sustainable structures. Buyers and occupiers are also contributing
by paying a premium for such structures.
"Now
is the time for the real estate industry to assert itself in defining the
narrative for a more sustainable urban future," according to Goel Ganga Developments Owner, Annuj Goel.
In
order to balance environment and development, the Indian real estate industry
must adopt global best practices and remain watchful. Green building approaches
will allow us to protect the environment while also ensuring a healthy and
inclusive future. The use of renewable raw materials, carbon-neutral solar
energy, recycling and replenishing bio-waste, and natural ventilation are all
examples of the economic benefits of green living.
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Impact of urbanization on real estate development
India's
urbanization is accelerating. By 2030, urban areas will be home to more than
40% of India's population. As the world's population grows, so does the demand
for housing and infrastructure, which must be fulfilled through
climate-resilient development. Adoption of sustainability efforts across the
real estate lifecycle starting with site procurement is so essential. Project
design and expanding to include energy-efficient construction materials, sales
and marketing, and resource-saving operations is so critical.
We
have a unique opportunity to create urban communities that are socially,
ecologically, and economically resilient and inclusive. And forward-thinking
real estate developers such as Goel Ganga Developments are now taking
meaningful steps to integrate this multi-pronged strategy into every area of
the value chain.
Goel Ganga Developments, as a
developer, ensures that waste created in its projects is kept to a minimum and
is properly reduced, repurposed, or recycled from construction through
operations.
Many
waste-management aspects, such as solar panels and heaters, sewage treatment
plans, organic waste composters, and rainwater gathering pits, have also been
added to save resources. It organises tree-planting efforts to reduce dust and
noise pollution. They also have herb and vegetable gardens to encourage
individuals to grow their own food.
The
real estate sector is gradually ramping up its efforts to promote sustainable
building methods. Given recent climate change-related occurrences, the industry
will need to make some concerted steps. They should lay out a clear plan to
demonstrate its commitment to the environment.
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