Leading the Industry transition towards sustainability, Lodha’s net-zero commitment receives global recognition from SBTi

Lodha, recognised as one of the  India’s top real estate developer, disclosed today that its Net-Zero targets have received validation from the Science Based Targets initiative (SBTi). Since unveiling these ambitious goals in 2021, Lodha has maintained a steadfast commitment to significantly reduce carbon emissions within the built environment, contributing to India’s 2070 net-zero target. The SBTi’s validation reinforces Lodha’s dedication to ‘Building a Better Life’ and spearheading the real estate industry’s transition toward net-zero.

The Science Based Targets initiative empowers businesses to establish ambitious emissions reduction targets aligned with the latest climate science. Lodha’s journey towards net zero includes a near-term commitment to a 97.9 per cent reduction in Scope 1 and 2 emissions by FY2028 and a 51.6 per cent reduction in Scope 3 emissions by FY2030. The long-term net-zero targets are aligned with the 1.5°C goal, aiming for net-zero across all scopes by FY2050. These targets, now validated by the SBTi, closely align with the 1.5°C goal outlined in the Paris Agreement, crucial for mitigating the impacts of global warming and climate change.

Mr Aun Abdullah, Head of ESG at Lodha, commented on this milestone, stating, “On our journey to create a low-carbon development template for the real estate industry, we are pleased to have our net-zero targets validated by the Science Based Targets initiative (SBTi). This milestone not only strengthens the credibility of our net-zero goals but also underscores our vision to redefine urban development, creating a sustainable low-carbon future for all.”

Lodha now stands among the select global real estate companies with similar long-term net-zero targets, emerging as the first Indian real estate firm with overall net-zero targets validated by the SBTi. Aligning its targets with the 1.5°C ambition, Lodha aims to raise awareness about sustainable development and set an industry standard.

In a recent accolade, Lodha was recognised as a Global Sector Leader, ranking first among developers in Asia on the GRESB Development Benchmark 2023. The developer also secured a spot among the 17 leading companies in the Dow Jones Sustainability Index (DJSI) 2023, boasting an exemplary score of 77 out of 100 in the S&P Global Corporate Sustainability Assessment (CSA). Lodha has solidified its vision of ‘Building a Better Life’ by collaborating with the Rocky Mountain Institute (RMI) to establish the Lodha Net Zero Urban Accelerator, a flagship decarbonisation platform bringing industry, experts and policymakers together to create a net-zero future.