ESG commitments: This Real Estate company is among the top 13 per cent globally
Macrotech developers is in the 87 percentile in the Real Estate industry, and is amongst the top 13 per cent of companies assessed globally under S&P Global Corporate Sustainability Assessment this year.
Macrotech Developers Limited (Lodha), one of the leading real estate developers received an exceptional score in S&P Global Corporate Sustainability Assessment (CSA). Following a thorough evaluation across the company’s Environmental, Social, and Governance (ESG) dimensions, Lodha scored 58 out of 100 in the 2021 S&P Global Corporate Sustainability Assessment. This was Macrotech Developers first attempt at the assessment.
With the company performing in the 87 percentile in the Real Estate industry, it is amongst the top 13 per cent of companies assessed globally under the S&P Global Corporate Sustainability Assessment this year.
Long term ESG Goal: The benchmarking exercise was commissioned by Macrotech Developers earlier this year when the company formalized its goal of becoming a 'net zero carbon' company by 2035. The company aimed to undertake a baseline assessment to measure its existing impact on ESG issues. The resultant ESG profile score reflects that Lodha, being a values-driven company, has already been performing remarkably on Environmental, Social, and Governance aspects and showcases the company’s commitment towards achieving its ESG goals.
Top executive comment
“Being an industry leader we shoulder a significant responsibility to do what is right for the current and future generations. Prioritizing our ESG targets and integrating the same in business strategies has always been our aim, and this ESG rating is a testament to our commitments. This rating process has made us aware of several opportunities for improvement and growth and we aim to move into the top 5 per cent of global real estate companies in the next 2 years. Our medium-term goal is to be a 'net positive' organization - focusing not just on economic profit, but also creating a positive impact on society and the environment. This is the start of a long journey and we are fully committed to 'doing good, while doing well'' said Abhishek Lodha, CEO and Managing Director of Macrotech Developers.
Macrotech opened at Rs 1,099, and closed at Rs 1,141.25, 6.16 per cent up for the day.