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Sustainability is no longer a question of if, but a matter of how soon in real estate, says Meghna Agarwal , Co-Founder of co-working space IndiQube. As sustainability mandates are being drawn in all sectors, corporate offices are working on fulfilling these mandates. “The recent water crisis in Bengaluru is a striking reminder of the fact that everyone needs to do their bit in embracing sustainability,” she says, adding that the Bengaluru-based IndiQube has taken several measures to transition its offices into climate-friendly places.
Agarwal explains that on one hand there is increased emphasis on corporates to reduce their carbon footprint from consumers and investors alike, and on the other hand there is rising demand from tenants for green buildings as the GenZ increasingly prefers working in environments that align with their values, including sustainability. “Incorporating sustainability in the real estate sector is thus no longer optional,” she says. The company has integrated solar energy systems, automated sewage treatment plants (STPs), and water treatment plants (WTPs) to reduce freshwater consumption and environmental impact.
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The co-founder explains that initially when they started implementing these “sustainability as a service” initiatives, there was lack of awareness, and most landlords viewed sustainability as a cost centre. However, today they are seeing an increased acceptance from the landlord community for implementing these sustainable initiatives at scale. “We're planning to double down on generation of green power by setting up a group solar power farm.
We intend to further expand our ‘renovate and upgrade’ programme to encompass more older properties. By refurbishing these buildings to modern environmental standards, we aim to maximise resource efficiency and extend their lifecycle while creating contemporary, sustainable workspaces,” she says. IndiQube is working on renovating more than 1 million sqft of older buildings.
The company also aims to engage its community of tenants, partners and stakeholders in sustainability initiatives through workshops and collaborative projects. “Together with our stakeholders, we are committed to shaping a more sustainable future transforming the ‘grey’ in commercial real estate into ‘green’,” she adds..
