IndoSpace’s logistics park first in India to get platinum green certification

October 30, 2020: The developer, and manager of Grade A industrial and logistics real estate, IndoSpace, has been awarded platinum certification by Indian Green Building Council (IGBC) for its logistics parks at Luhari I and II in Haryana near National Captial Region (NCR).

IGBC rating systems recognizes achievement in green design, construction & operations and platinum rating benchmarks applicants with international standards. IndoSpace Logistics Park Luhari I is the first logistics park in India to receive platinum certification under the IGBC logistics parks and warehousing rating system.

Founded in 2001 by CII, IGBC is the first green building certification body in India. It is part of the World Green Building Council since 2004 as a founding member. The World Green Building Council is a global network of over 70 Countries.

Rajesh Jaggi, vice chairman, real estate, Everstone Group, said, "We are delighted to receive these coveted certifications from IGBC which testify our conscious and responsible efforts towards creating sustainable facilities at our parks. As an industry leader, we have pioneered the green design and are committed to protecting the ecosystem we operate in by employing better building design and highly efficient resource use.”

IndoSpace is a founding member of Indian Green Building Council and has pioneered sustainability initiatives and best practices in the Industrial and Warehousing sector. It has established stringent Environmental & Social Governance (ESG) standards in operations and follows Environmental Clearance (EC) norms set by the government of India.

Recently, IndoSpace Core portfolio was rated medium green by international independent reviewer CICERO Shades of Green. IndoSpace Core’s green finance framework is the first-ever globally to have incorporated EDGE certified green buildings in the warehousing space being externally reviewed by CICERO Shades of Green.
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IndoSpace has also achieved more than 40 percent savings on energy, water and embodied energy in material at several parks. This has won IndoSpace the EDGE Certification from GBCI (Green Business Certification Inc.) for 45 percent of its the buildings, and the Advanced EDGE Certification for 55 percent of the buildings.

Additionally, IndoSpace has conducted Greenhouse Gas (GHG) Footprint studies for its parks. The company has also implemented the Miyawaki Approach for landscaping sustainability which leads to denser foliage and tree cover and is expected to not only improve the air quality but also enable dust reduction and noise isolation.

IndoSpace has a portfolio of over 37 million square feet across 36 industrial and logistics parks under various stages of development in 9 cities. IndoSpace is a joint venture between private equity firm Everstone group and the United States-based industrial real estate firm Realterm.