ASSOCHAM and CREDAI Sign MoU for Sustainable Development in Real Estate

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    New Delhi, 19th January 2024: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the Confederation of Real Estate Developers’ Associations of India (CREDAI) recently signed a Memorandum of Understanding (MoU) during the ASSOCHAM GEM 6th International Sustainability Conclave and Expo 2024 in New Delhi. This collaborative effort aims to propel long-term development within the Indian real estate sector.

    The GEM green building certification program, an ASSOCHAM sustainability initiative, plays a crucial role in this partnership. Aligned with BEE ECBC 2017 and NBC 2016, the program focuses on sustainability, energy and water efficiency, fire and life safety, indoor air quality, daylight, fresh air, and human comfort. Buildings complying with GEM standards receive the GEM Green Building Certification Rating.

    Under the MoU, ASSOCHAM and CREDAI commit to joint efforts in promoting sustainable practices and fostering growth. The primary objective is to create and promote training and educational programs focused on sustainability and related topics. These initiatives aim to enhance industry knowledge, skills, and encourage sustainable practices across the corporate community.

    To ensure broad participation, both organizations will actively promote these programs among their member organizations. This proactive approach is essential for instilling a culture of continuous learning and ensuring widespread involvement in projects that drive the sector forward.

    The collaboration extends globally, with ASSOCHAM and CREDAI collaborating on international conferences and exhibitions. This strategic alliance seeks to strengthen cooperation between the organizations and their members on a national and global scale, providing a platform to showcase industry expertise and foster global connections.

    The MoU signing represents a significant step forward for both ASSOCHAM and CREDAI, highlighting their dedication to long-term development and collaborative efforts in a dynamic business landscape. Through this strategic agreement, the organizations aspire to make a substantial contribution to the progress of the Indian business ecosystem.

    Notable Quotes

    • Mr Milind Bhikanrao Deore, Secretary, BEE, Ministry of Power GOI: “India’s commitment to sustainable infrastructure is a noble cause, underscored by its vital need for and importance in the current global scenario.”
    • Mr Atul Bagai, Head UN Environment Programme, Country office India: “Sustainable infrastructure is imperative to address climate change and ensure environmental resilience as global carbon levels rise.”
    • Mr Pankaj Dharkar, Chairman GEM Green Building Council ASSOCHAM: “There is an urgent need to transform the built infrastructure sector towards more resource efficiency and circular economy principles.”
    • Mr Anupam Mittal, Chairman ASSOCHAM GEM UP: “Eco-friendly buildings hold larger significance for sustainability, and increased partnerships between stakeholders and green principles should be followed for infrastructure development.

    Also read: Luxury Real Estate Investment Trends in India: Insights from ISIR Survey 2024

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