The establishment of a centralized body overseeing innovations, facilitating knowledge sharing and best practices, and disseminating information would be very advantageous.
Naiknavare Developers - Anand Naiknavare, Head Business Process
As a developer, we recognize the importance of contributing to India’s climate action strategy and have therefore adopted various measures to reduce emissions. These include implementing energy-efficient practices in our construction projects, including use of sustainable materials and technologies.
We are incorporating renewable energy sources like solar power in our project designs and operations, promoting green building practices and achieve LEED/GRIHA certifications, encouraging the use of electric or hybrid construction equipment to minimize carbon emissions onsite, and are collaborating with other stakeholders to develop and implement sustainable construction practices across the industry.
Waste management and resource conversion
We understand that waste management plays a crucial role in decarbonization and sustainability. To effectively convert waste into valuable resources, we are emphasizing onsite waste segregation and recycling to minimize landfill contributions, exploring innovative technologies for waste-to-energy conversion such as biomass or biogas generation, promoting the use of recycled materials in our construction projects, and are partnering with waste management agencies to ensure responsible disposal of construction waste.
Potential of carbon credit policy as an effective mechanism
Considering the potential of carbon credits in promoting emission reductions, we believe that a specific carbon credit policy tailored for the construction industry would be beneficial. This policy could recognize and reward construction projects that demonstrate substantial emission reductions, encourage the adoption of low-carbon construction methods and technologies through financial incentives, foster collaboration between the industry and relevant stakeholders to develop standardized carbon emission calculators, support research and development of sustainable construction practices to accelerate decarbonization efforts.
Centralized body would encourage innovation and raise awareness
To overcome challenges posed by fragmentation and lack of collective incentive in the real estate industry, the establishment of a centralized body overseeing industry innovations can be advantageous. This body could facilitate knowledge sharing and best practice dissemination across the construction sector, coordinate research and development initiatives for sustainable construction methods and materials, collaborate with government agencies, industry associations, and educational institutions to raise awareness about decarbonization and sustainability, and act as a platform for fostering collaborations among industry stakeholders, including contractors, developers, equipment manufacturers, and policymakers.
Challenges in transitioning to low-carbon construction
Transitioning to low-carbon construction methods may pose several challenges. However, we have addressed these challenges by investing in research and development to identify and adopt innovative technologies and materials that reduce carbon emissions. We are collaborating with experts and industry partners to develop sustainable construction guidelines and practices. We are providing training and awareness programs to our workforce to ensure a smooth transition to low-carbon construction methods, and are undertaking continuous monitoring and evaluation of our projects to identify areas for improvement and refine our sustainability strategies.