BROOKFIELD PROPERTIES IN INDIA RECEIVES ‘EDGE CHAMPION’ RECOGNITION BY IFC FOR SUSTAINABLE EXCELLENCE

~Institutionalizes 8 assets across its Southern Portfolio in Bengaluru and Chennai ~

Bengaluru, 25th June 2024: Brookfield Properties in India has been awarded the EDGE Excellence in “Design for Greater Efficiencies Champion” recognition by International Finance Corporation (IFC), the private sector arm of the World Bank. This esteemed certification acknowledges the organization’s commitment to sustainability in India’s commercial workspace landscape.

Brookfield Properties received the EDGE Champion certification for its southern portfolio covering over 16.5 million square feet of space, including Ecospace, Ecoworld, Centennial, Northstar, Azure, NXT and the Galleria mall in Bengaluru and the Millenia Business Park in Chennai.

Achieving this certification represents the institutionalizing of green building practices within an organization. It acknowledges the company’s intent to construct, operate and manage environmentally friendly buildings through tangible and reputable solutions. The certification is a crucial mechanism for accessing green finance, seamlessly aligning with prominent international green finance standards. It also aids in determining the most commercially feasible green strategy that will yield the desired results for the brand.

Shantanu Chakraborty, COO, Brookfield Properties said, “Our commitment to a greener future is reflected in the integration of global sustainability standards in our construction practices. By achieving reductions of over 20% in energy use, water consumption, and building material emissions, we are advancing towards our goal of achieving net-zero emissions by 2040. EDGE certification is a testament to our progress in creating sustainable workspaces. We thank IFC for recognizing our efforts.”

Adding to this, IFC’s Director of Climate Business, Jamie Fergusson, said, “The climate crisis requires urgent action at scale and EDGE is achieving just that. In the seven short years since it was founded, it spread across the world, with EDGE-certified buildings in 96 countries today with over 63 billion dollars in asset value. This scale, this urgency, is what EDGE is bringing to the built environment.”

Brookfield Properties is a leading global developer and operator of premier real estate assets across diverse sectors. With its focus to develop resource-efficient buildings, the company has pioneered its sustainability practices, setting a benchmark through various projects by incorporating passive and active measures. Identifying buildings to be more than structures, the organization is committed to shaping communities and driving change by providing high-quality assets. EDGE is an online platform, a green building standard, and an international certification system, which has seen exponential growth since its inception in 2015. To date, EDGE has certified as green a cumulative total of over 700 million square feet of floor space globally, saving a total of over 1.3 million tons of CO2 annually, equivalent to the emissions of almost 300,000 gasoline-powered passenger vehicles.