Pune’s Real Estate Sector Aims for Sustainable Transformation: Insights from PIC Roundtable

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Pune, 8th February 2024: The recent PIC roundtable, titled “Decarbonising Real Estate Sector in Pune Metropolitan Region,” delved into the urgent need to reduce the carbon footprint of the real estate sector, with a specific focus on cutting emissions. Hosted by PIC’s Energy, Environment, and Climate Change (EECC) research vertical, in collaboration with VK:e Environmental on January 30, the event brought together experts in architecture, energy, and the environment from the Pune Region to explore the sector’s potential contribution to reducing carbon emissions.

During the discussions, Mr. Ranjit Naiknaware, Programme Chair, and President of CREDAI Pune-Metro, emphasized the sector’s capacity to contribute to a 26% reduction in emissions. He underscored the need for making carbon emission reduction statutory to address the enormity of the issue effectively.

Co-chair and keynote speaker, Poorva Keskar, Director of VK:e Environmental, highlighted cities as CO2 hotspots due to dense populations and high energy use, with 80% of emissions originating from the real estate sector. She identified cutting emissions in existing buildings as a “low-hanging fruit” that could be achieved at a low cost.

The roundtable featured insightful sessions, including ‘Design Considerations for Low-carbon Development,’ where Dr. Sunita Purushottam, Head of Sustainability at Mahindra Lifespace Developers Ltd, emphasized adopting climate-responsive design strategies. In ‘Operational Decarbonisation,’ Mr. Sandip Sonigra, MD of Orange County Group, discussed renewable energy sources and building a culture of sustainability. The ‘Sustainable Redevelopment’ session, led by Mr. Ganesh Jadhav, Co-founder of Gangotree Homes and Holidays, focused on green buildings and the meaning of sustainability for the common man.

Prof. Amitav Mallik, Head of EECC and Trustee at PIC, stressed the need to bend the curve and projected lower carbon emissions in 2030 compared to 2020.

The roundtable’s recommendations will be consolidated into a report and shared with the government, industry leaders, and stakeholders to drive actionable changes.

Additionally, an earlier roundtable on ‘Clean Energy Conclave: Scaling Renewable Energy Smart Microgrids’ explored current technology and government policies for the rapid decarbonization potential of Pune Metropolitan Region (PMR). The event, chaired by Mr. Mahesh Zagade, former Principal Secretary to the Government of Maharashtra, involved key stakeholders, including MSEDCL, MASMA, IESA, CES, independent consultants, and companies such as Husk and Power Trust.

Both roundtables aimed to contribute to sustainable development and reduce carbon emissions, aligning with the ongoing efforts to create a greener and more resilient Pune Metropolitan Region.