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Mindspace REIT Partners GNFZ for Net-Zero Pathway
Real Estate

Mindspace REIT Partners GNFZ for Net-Zero Pathway

Mindspace Business Parks REIT has partnered with Global Network for Zero to transition its entire ~39 million sq ft portfolio to a net-zero certification pathway, marking one of India’s largest portfolio-level decarbonisation initiatives in commercial real estate.
The collaboration shifts Mindspace REIT from asset-level certifications to a unified, portfolio-wide approach aligned with global climate benchmarks. It will involve a structured decarbonisation roadmap covering Scope 1, Scope 2 and Scope 3 emissions, alongside centralised energy tracking, renewable energy integration, and stronger tenant collaboration.
Ramesh Nair, CEO and MD, K Raheja Corp Investment Managers, said the partnership establishes a clear and accountable pathway towards the REIT’s net-zero target of 2042. Mahesh Ramanujam, President and CEO, GNFZ, noted that the initiative sets a precedent for scaling climate action across real estate portfolios.
As of FY2025, Mindspace REIT has reduced Scope 1 and Scope 2 emissions by 32.2 per cent and increased renewable energy usage to 40.2 per cent, while maintaining a 5-star GRESB rating for three consecutive years.
The move reflects a broader industry shift from individual green buildings to portfolio-wide decarbonisation strategies, as institutional real estate platforms align with global sustainability frameworks and investor expectations.

Mindspace Business Parks REIT has partnered with Global Network for Zero to transition its entire ~39 million sq ft portfolio to a net-zero certification pathway, marking one of India’s largest portfolio-level decarbonisation initiatives in commercial real estate.The collaboration shifts Mindspace REIT from asset-level certifications to a unified, portfolio-wide approach aligned with global climate benchmarks. It will involve a structured decarbonisation roadmap covering Scope 1, Scope 2 and Scope 3 emissions, alongside centralised energy tracking, renewable energy integration, and stronger tenant collaboration.Ramesh Nair, CEO and MD, K Raheja Corp Investment Managers, said the partnership establishes a clear and accountable pathway towards the REIT’s net-zero target of 2042. Mahesh Ramanujam, President and CEO, GNFZ, noted that the initiative sets a precedent for scaling climate action across real estate portfolios.As of FY2025, Mindspace REIT has reduced Scope 1 and Scope 2 emissions by 32.2 per cent and increased renewable energy usage to 40.2 per cent, while maintaining a 5-star GRESB rating for three consecutive years.The move reflects a broader industry shift from individual green buildings to portfolio-wide decarbonisation strategies, as institutional real estate platforms align with global sustainability frameworks and investor expectations.

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