Mindspace REIT Partners GNFZ for Net-Zero Pathway

23 Apr 2026 CW Team

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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