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Nila Spaces Announces Real Estate Carbon Neutrality Assessment Report

Mumbai, January 31, 2024: Nila Spaces, on Wednesday released its ‘Carbon Neutrality Assessment Report.’

The report reveals an intricate carbon neutrality roadmap and emission analysis to entirely neutralize the carbon emissions stemming from the construction of Project VIDA, says a press release issued by the company. In accordance with ISO 14064 and GHG Protocol standards, the report systematically dissects emissions within the realms of Scope 1, 2, and 3. Going beyond, it proposes an optimal blend of premium-quality carbon credits.

The report which incorporates project VIDA’s greenhouse gas emissions assessment and its carbon neutrality strategy was undertaken by Deloitte India.

Deep Vadodria, CEO of Nila Spaces, stated, “Our first view is to reduce GHG emissions through the IGBC-Platinum standard, avoiding GHG generation itself. We do not wait until a project is completed; instead, we neutralize emissions in an ongoing manner, demonstrating our commitment and agility in addressing environmental concerns. Reaching the pinnacle of sustainability through Project VIDA, what we are championing is not just a carbon-neutral real estate project but a testament to our commitment to design thinking. With this project, we’ve left no stone unturned, urging the industry to embrace a holistic sustainability plan. As we navigate the intricate balance of design and impact, it’s crucial for the sector to recognize that sustainability isn’t just a checkbox; it’s embedded in every aspect of project development.” added Mr. Vadodria.

Hartmut Wurster, Country Head, Blocher India, the architect of Vida, said, “In our pursuit of sustainable architecture, we prioritize minimizing environmental impact through thoughtful design. Our recent project in Gift City, particularly the Nila’s. Vida Tower, stands as the greenest tower, showcasing a commitment to environmental considerations and transforming spaces for positive human well-being. As we strive for progress, the real relevance lies in enhancing sustainability in mass construction in India. While small-scale efforts are limited, achieving even a 10% or 15% improvement in building environmental friendliness holds substantial weight, surpassing the significance of singular super-sustainable structures. Nila Spaces, a forward-thinking company, exemplifies this commitment with projects like Vida in Gift City—a transformative benchmark that integrates happiness into inhabitants’ lives. We advocate for more real estate players and innovators who think beyond norms, prioritize human needs, and drive impactful change in large-scale projects.”

As global attention intensifies on climate action and net-zero commitments, the comprehensive ‘Carbon Neutrality Assessment Report’ for Project VIDA signifies a significant leap forward in ESG reporting for Indian real estate. This document serves as a blueprint, empowering more companies in the sector to monitor, disclose, and offset their carbon impact.