Embassy Office Parks continues ESG initiatives on World Environment Day across all its commercial parks

Embassy Office Parks continues ESG initiatives on World Environment Day across all its commercial parks

Partners with Lithium Urban Technologies to introduce e-vehicles to reduce carbon footprint

Bengaluru, 5th June 2019:  Embassy Office Parks, India’s first and only listed REIT, along with the tenant partners have come forth to support multipleenvironmental, social and governance (ESG) initiatives on World Environment Day. It has partnered with Lithium Urban Technologies, world’s largest electric vehicle commercial fleet operators, to introduce e-vehicles for intra-park commute.  These electric vehicles (EV) are powered by renewable energy powered with zero emissions and zero carbon footprint.

Lithium Urban Technologies will manage all-electric, shared, safe and hosted fleet of e-vehicles that are accessible to park users for movement in and around the commercial parks. This initiative will help in controlling congestion, reduce cost of transportation, reduce noise and air pollution, control footfalls, increase safety measures, increase time and productivity for park users and most importantly reduce fossil-powered transportation with positive impact on the environment. 

Speaking on the occasion, Mike Holland CEO Embassy Office Parks said, “Environmental, social and governance (ESG) has been a priority area for Embassy Group companies for many years. Embassy is committed to sustainability across their portfolio of residential, commercial, industrial, hospitality and retail developments.Our corporate tenants are equally involved and hands on in supporting green initiatives like solar panel installations, rain-water harvesting and water recycling, energy optimization techniques that focus on reduction of overall energy consumption and demand on fossil fuels, reducing non-renewable energy consumption among others. 

Sustainable transportation is a key element in operating such world class infrastructure. This partnership with Lithium is our concentrated effort to reduce emissions and minimize intra-park transportation led carbon footprints. Our parks across Bangalore and Pune will have a fleet of EV shuttles for intra park use and to connect to nodal transportation points around the city.” 

Sanjay Krishnan, CEO Lithium Urban technologies said, “This partnership with Embassy, a pioneer and leader in providing world class urban infrastructure which is changing the way India lives, works and plays. This nation-wide partnership provides a platform for urban India to commute in a safe, reliable, cost effective way with zero emissions. We will together transform the way India commutes with innovation and sustainability.”

Embassy Office Parks has helped tenant partners to commissionsolar roof top installations to increase the use of renewable energy. Companies such as Swiss Re Global, IBM, JP Morgan, and Wells Fargohave joined EOP’s initiatives in renewable energy production. 

A continued area of focus for Embassy Office Parks has been in designing and building developments that meet LEED and IGBC certification requirements. Recently, three of Embassy’s Office Parks  – Embassy Manyata, Embassy TechZone and Embassy TechVillage were awarded the rare IGBC (Indian Green Business Council) Green Campus Platinum Certification.

Occupiers of the office parks joined hands for tree plantation drive and over 1200 saplings were distributed across the business parks of Embassy. There were on-ground events to support the day including a first-of-its-kind Sustainable and Ethical Fashion show curated and choreographed by the Fashion Guru of India, Prasad Bidapa. The theme was designed to encourage employees to opt for organic or bio-degradable clothing to reduce environmental pollution. Park users also benefited from expert talks on Environmental conservation which gave them an opportunity to become aware of their efforts towards a cleaner and greener planet.

About Embassy Group 

Embassy is a leading property developer in India with a track record of over three decades in real estate development. Embassy has an extensive land bank across the country and has developed over 54 million Sq. Ft. of prime commercial, industrial, residential and retail space in India. Embassy's portfolio of real estate developments spans the commercial, residential, industrial & warehousing, retail and hospitality segments of the real estate industry. Headquartered in Bangalore, Embassy has a presence on a pan India basis.

About Embassy Office Parks 

Embassy Office Parks is India’s first and only listed REIT, apioneer in integrated office parks. Embassy office Parks comprises 25m sq ft of completed and operational assets many of which areLEED certified commercial properties across India, providing office space to over 160 blue chip corporate occupiers. With on campus development opportunities, the portfolio comprises 33 million square feet (msf) across seven Grade A office parks and four city-center office buildings in India’s best performing office markets of Bengaluru, Mumbai, Pune and the National Capital Region (NCR). The portfolio also comprises strategic amenities, including two completed hotels, two under-construction hotels, and a 100MW solar park supplying renewable energy to park tenants.

About Lithium Urban Technologies 

Lithium Urban Technologies is world’s largest electric vehicle commercial fleet operator and a pioneer in sustainable and shared urban mobility. With a fleet of over 850+ EVs and India's largest network of charging stations across 7 cities. 90% of its energy needs are powered by renewable energy. Lithium's disruptive market offering of unlimited mileage, highly productive & connected EV fleet of cars and buses + charging infrastructure has saved its clients up to 40% in their transportation costs and has abated to date about 15,000 MT of Co2e (equivalent to adding 40+ Cubbon Parks to Bengaluru alone). Lithium's institutional investors includes LGT Capital and International Finance Corp (a World Bank Group Co).