Mumbai, India, July 18, 2017: A
first-of-its-kind, voluntary, private sector-led initiative, the Sustainable
Housing Leadership Consortium (SHLC) is working towards mainstreaming green
homes in India. The aim is for at least 20% of India’s new housing developments
to be green by 2022.
IFC, a member of the World Bank Group, convened the consortium under the
Eco-cities program supported by the European Union, in 2016. Founding members
of the consortium include leading real-estate developers Godrej Properties
Limited, Mahindra Lifespace Developers Limited, Shapoorji Pallonji Real
Estate, Tata Housing Development Company Limited, and VBHC Value Homes
Private Limited. Financial institutions HDFC Limited and PNB Housing Finance
Corporation are also part of the consortium. SHLC has support and participation
of the Ministry of Housing and Urban Affairs, Government of India.
“The European Union is committed to supporting the sustainable development
of cities, with a particular focus on climate-change mitigation and adaptation,
and energy efficiency – key areas of India and EU’s strategic partnership,”
said Friederike Tschampa, Charge d’Affaires a.i., Delegation of the European
Union to India.
Today, the real-estate sector is responsible for 24 percent of India’s
annual greenhouse gas emissions. Yet, two-thirds of India’s built infrastructure
still lies in the future. The Government of India’s mission of ‘Housing
for All by 2022’ also points to this being a critical time to impact the
footprint of the housing industry. Urban India will need approximately
another 2.4 million homes to be built by 2020, which creates a massive
opportunity for change.
SHLC is collectively committed to making 100 percent of its new housing
portfolio green, thus contributing 110 million square feet of green housing
by 2020. For the citizens of India, this will translate into an estimated
saving of 198 million kWh per year (which could potentially power over
1 lakh additional households) and 108 billion liters in water savings.
It would also reduce India’s carbon footprint by approximately 0.2 million
metric tons of CO2, helping us progress towards the national goal of becoming
a burgeoning low-carbon economy.
“Affordable and sustainable homes is a key part of IFC’s strategy in
India. We invest and advise housing finance companies, developers, and
have also helped leading private-sector banks to issue green bonds to finance
green homes,” said Jun Zhang, Country Head, IFC, India. “Given the scale
of the challenge, through SHLC, we want to influence the ecosystem to build
a more sustainable and greener India.”
To achieve its aims, SHLC is identifying scalable, efficient technology
that brings down the costs of going green. SHLC is also working closely
with the government to create a supportive policy environment. It will
launch a multimedia campaign to reach 7 million people, galvanizing public
opinion on green homes.
About the European Union (EU)
The EU, which consists of 28 countries, has the world’s largest economy
and its third largest population, after China and India. Though richly
diverse, the countries that make up the EU (its ‘Member States’) are
all committed to the same basic values: peace, democracy, the rule of law
and respect for human rights. They have set up common institutions so that
decisions on matters of joint interest can be made democratically at the
European level. By creating a frontier-free single market and a single
currency (the euro) which has been adopted by 19 Member States, the EU
has given a significant boost to trade and employment. It is also at the
forefront of policies on sustainability.
For over 50 years, the EU and India have worked together to reduce poverty,
prevent disasters, expand trade, and promote joint research in energy,
health, agriculture and many other fields of mutual interest. More information
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise,
and influence to create markets and opportunities in the toughest areas
of the world. In FY16, we delivered a record $19 billion in long-term financing
for developing countries, leveraging the power of the private sector to
help end poverty and boost shared prosperity. For more information, visit
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