Mindspace Business Parks REIT commits to transition to 100% electric mobility by 2030

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Bengaluru: K Raheja Corp and Blackstone Group backed Mindspace Business Parks REIT, has committed to transition to 100 per cent electric mobility by 2030.

The recently listed REIT will ensure this transition by expanding electric vehicle charging infrastructure for Clients across all its Business Parks in India.

The EV100 initiative will help accelerate a global shift to clean transport and reduce air pollution across its micro-markets of presence in the geographies of the Mumbai Region, Pune Hyderabad and Chennai.

Additionally, Mindspace Business Parks REIT portfolios’ owned EV vehicles which are used to ferry employees in and around the business parks provides clients a first-hand experience of an EV, encouraging them to make the switch. The whole fleet will be switched to electric by 2030.

With an office portfolio that covers five integrated business parks and five quality independent offices, Mindspace Business Parks REIT has over 2 lakh employees coming in to work each day at its business parks, pointing at an opportunity to positively empower and influence a large populace.

Mindspace Business Parks REIT has already begun driving EV uptake amongst its clients by installing1000+ charging points across its business parks, which can be accessed free of charge. In 2019, EV vehicles were pilot launched at the Mindspace Juinagar Business Park in Airoli (Mumbai Region), with EV infrastructure being set up subsequently across locations at a quick pace.

In the next phase of this commitment, it will see ramping up the numbers, as the portfolio grows, the Company said. Mindspace Business Parks have a tenant base that comprises a mix of multinational and Indian corporates, including affiliates of Accenture, Qualcomm, BA Continuum, JP Morgan, Amazon, Schlumberger, UBS, Capgemini, Facebook, Barclays and BNY Mellon. With this Mindspace Business

“Mindspace Business Parks are a chosen office address by global MNC’s and Fortune 500 Companies in India, which sees over 2 lakh employees coming into work each day. Our endeavour under the Climate Group’s EV100 initiative is to fortify our commitment to sustainability, with the best blend of innovation and technology. By setting up of the electrical charging stations at our Business Parks we offer solutions that are good on the environment, customers, stakeholders, and future generations,” said Vinod Rohira, CEO Mindspace Business Parks REIT.

Mindspace Business Parks REIT becomes the first real estate entity from India to join the Climate Group’s global EV100 initiative, which brings together nearly 90 international companies committed to making electric transport the new normal by the end of this decade. The announcement comes during Climate Week NYC 2020, one of the biggest climate summits in the world, showcasing climate action by leading businesses and governments and inspiring others to do more.

“By providing charge points for thousands of its employees, the entity is helping to drive India’s transition to electric mobility, lowering emissions and improving air quality at the same time. As the first real estate entity from India joining our initiative, Mindspace Business Parks REIT is leading by example, and has a real opportunity to influence the wider sector to follow in its footsteps,” said Divya Sharma, Executive Director – India, the Climate Group.

Pioneering sustainable practices in the Indian real estate industry, Mindspace Business Parks REIT has woven measures to reduce carbon footprint into its business parks right at the time of conceptualization, and today each building is either Gold or Platinum Green Building Certified (LEED/IGBC).

The entity that listed on the stock exchanges in August, was oversubscribed 13 times amid turbulent times and listed at a premium of 11 per cent at Rs. 304 per unit.



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