The real estate sector is a major source of global carbon emissions, accounting for nearly 40 per cent of the total emissions. By 2040, it is expected that roughly two-third of the existing building stock will contribute to CO2 emissions, posing a challenge to the target under the Paris Agreement to restrict temperature increase to 1.5 degrees. In light of the above, a KPMG in India and Colliers report said that in 2023, the office real estate market witnessed a significant shift towards sustainability, registering an 83 per cent growth in green office stock as compared to 2016 and in India, 61 per cent of the office market stock was green in 2023, reflecting a growing trend.