Green financing is not the only tool to unlock the potential of the green real estate sector: GRIHA

Green Building

Accommodation Times Bureau

 

New Delhi, March 3, 2017: The second day of the 8th GRIHA Summit in the capital set the tone for the need for sustainability going hand in hand with ample financing for all the ideas and implementation for creating an ecosystem for sustainable habitat. With the recent predication of the meteorological department that due to the impact of increase in greenhouse gases the upcoming summer will be one degree higher than normal average, and to add to this the unprecedented urbanization India is witnessing at present, the construction sector has a significant impact on climate change.

In a presentation made by a group of secretaries to the Hon’ble Prime Minister on energy efficiency earlier this year, it was acknowledged that buildings are the fastest growing sector in terms of energy use and it was proposed to target for 30% penetration for energy efficient buildings, which could help India save approximately 2500 MW of power. In the Indian context, green penetration in buildings is between 3% and 5% and if the inefficient use of energy, water and embedded materials continues, it could result in approximately 10 times increase in GHG emissions in the construction sector by 2050.





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