Real Estate company Nila Spaces has released a ‘Carbon Neutrality Assessment Report,’ showcasing the company’s commitment to environmentally conscious practices. The report not only quantifies operational and embodied carbon emissions but also outlines a roadmap for mitigation and neutralization. The report, which incorporates project VIDA’s greenhouse gas emissions assessment and its carbon neutrality strategy, was undertaken by Deloitte India.

In strict accordance with ISO 14064 and GHG Protocol standards, the report systematically dissects emissions within the realms of Scope 1, 2, and 3. Going beyond, it proposes an optimal blend of premium-quality carbon credits, assuring not only the thorough mitigation of the project’s carbon impact from inception to completion, but also incorporating periodic assessments with quarterly checks. This approach considers factors such as cost-effectiveness, market demand, and consumer awareness.

Nila Spaces is actively neutralizing emissions during the ongoing Project VIDA in Gujarat International Finance Tec-City (GIFT City), setting the stage for industry transformation. One of Nila Spaces’ primary objectives is to reduce greenhouse gas (GHG) emissions, aligning with the IGBC-Platinum standard which signifies the company’s dedication to incorporating cutting-edge technologies and design features to minimize carbon footprint and promote a sustainable way of life.

Deep Vadodria, CEO, Nila Spaces, stated, “We do not wait until a project is completed; instead, we neutralize emissions in an ongoing manner. What we are championing is not just a carbon-neutral real estate project but a testament to our commitment to design thinking. With this project, we are urging the industry to embrace a holistic sustainability plan. As we navigate the intricate balance of design and impact, it’s crucial for the sector to recognize that sustainability is embedded in every aspect of project development.”

Said Hartmut Wurster, Country Head, Blocher Blocher India, the architect of VIDA, “Our recent project in Gift City, particularly the Nila’s. VIDA Tower, stands as the greenest tower, showcasing a commitment to environmental considerations and transforming spaces through thoughtful design. However, the real relevance lies in enhancing sustainability in mass construction in India. While small-scale efforts are limited, achieving even a 10% or 15% improvement in building environmental friendliness holds substantial weight, surpassing the significance of singular super-sustainable structures. Nila Spaces, a forward-thinking company, exemplifies this commitment with projects like VIDA in Gift City. We advocate for more real estate players and innovators who think beyond norms, prioritize human needs, and drive impactful change in large-scale projects.”

As global attention intensifies on climate action and net-zero commitments, the comprehensive ‘Carbon Neutrality Assessment Report’ for Project VIDA signifies a significant leap forward in ESG reporting for Indian real estate. This document serves as a blueprint, empowering more companies in the sector to monitor, disclose, and offset their carbon impact.