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Over 4 Lakh Green Homes Planned as CREDAI and IGBC Renew Partnership

New Delhi / September 23, 2024: The Confederation of Indian Industry (CII) Indian Green Building Council (IGBC) and the Confederation of Real Estate Developers’ Associations of India (CREDAI) have renewed their Memorandum of Understanding to collaborate on sustainable development initiatives, promoting the adoption of green technologies among builders and real estate developers, a statement from CII IGBC said.

CREDAI reaffirmed its commitment to sustainable development by pledging to have over 4,000 projects certified under IGBC Green and Net Zero building rating systems by 2030. This ambitious goal will result in the addition of more than 400,000 green housing units across India, the statement added.

To accelerate progress towards these objectives, CREDAI and IGBC will establish a joint task force. This task force will focus on developing and implementing initiatives that promote green building practices and sustainable development in India. Regular updates on the task force’s activities will be shared with members of both organizations.

CREDAI and IGBC will also collaborate to recognize and promote each other’s achievements in sustainable building. This includes providing platforms for leadership to share their unique contributions and accomplishments in this field. Additionally, the organizations will explore opportunities to develop joint publications that benefit both parties.

The Memorandum of Understanding was signed at a ceremony held on September 23, 2024, at CREDAI’s NATCON 2024 in Sydney, Australia. The MoU was signed by C Shekar Reddy, National Vice Chairman, CII Indian Green Building Council and Boman R Irani, President, Confederation of Real Estate Developers’ Associations of India (CREDAI). Also present at the signing were Jeff Oatman, Chair, Asia Pacific Network-World Green Building Council and Head of Collaboration and Membership, GBC Australia; Shekhar G. Patel, President Elect, CREDAI; Himanshu Shah, Director, IGBC; and Sundeep Vullikanti, Senior Counsellor, IGBC.

Speaking at the signing of the MoU, C Shekar Reddy, National Vice Chairman, CII Indian Green Building Council, said, “The MoU with CREDAI is a significant moment as this partnership will play an important role in helping India becomes one of the global leaders in the sustainable built environment by 2025. We will work closely with CREDAI members across India to raise awareness on Green and Net Zero concepts and adopt suitable IGBC Green and Net Zero Rating systems for their upcoming projects.”

As part of the agreement, CII IGBC will support CREDAI members in carrying out high-level feasibility studies for their building projects (in Design/ Construction/ Operations phase) and share improvement opportunities with a clear roadmap to achieve the IGBC Net Zero ratings. CREDAI and IGBC would also seek the support of each other’s members in local chapter activities and work closely with stakeholders in Region / State in taking forward the green and net zero building movement.

Boman R Irani, President, Confederation of Real Estate Developers’ Associations of India (CREDAI), signed the MoU representing CREDAI. Speaking at the event, he said, “CREDAI brings together more than 13,300 members from 230 city chapters across 21 states of India and, together with CII IGBC, we can effectively promote sustainability in the real estate sector and contribute to a more environment friendly future.”

M Anand, Deputy Executive Director, CII IGBC, said, “This association will prove very beneficial to India and will help the country benefit. By leveraging their respective strengths, IGBC and CREDAI can create a powerful alliance that drives the green and net zero building movement in India, resulting in significant economic, social, and environmental benefits for the country.”

This Memorandum of Understanding, between CII Indian Green Building Council (IGBC) and Confederation of Real Estate Developers’ Associations of India (CREDAI) is for a period of 3 years which will be renewed for another 3 years on mutual terms.