Mindspace Business Parks REIT said on Thursday it has joined the global RE100 initiative led by Climate Group in partnership with not-for-profit charity CDP.
With this, it has committed to transform to 100 per cent renewable electricity use across all areas serviced and maintained within the Mindspace Business Parks REIT portfolio by the year 2050.
RE100 brings together the world's most influential businesses, driving the transition to 100 per cent renewable electricity.
Mindspace REIT will also make renewable energy accessible to tenants who choose to avail of the green power.
This further strengthens the entity's commitment towards mitigating environmental impact across project lifecycles in sync with the mission of RE100, which is to accelerate change towards zero carbon grids at scale.
Mindspace Business Parks REIT is the first Indian real estate entity to pledge to RE100. It will source 35 per cent of total energy requirement from renewable sources by 2025, 50 per cent by 2030 and 100 per cent by 2050.
The entity currently sources 10 per cent energy through renewable sources like solar energy and renewable energy certificates (RECs). With this move, it endeavours to fortify its commitment to sustainability, by sourcing power through green energy tariffs and solar energy.
Last year, Mindspace Business Parks REIT pledged to transition to 100 per cent electric mobility by the year 2030.
( With inputs from ANI )
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