ESG is an Abiding Commitment for Us
We are firmly committed to driving holistic value for the environment, society and our organization, by integrating an ESG-led approach. Our commitment towards a value driven future is guided by our purpose and vision to create a meaningful stakeholder impact.
Our Purpose
Building a sustainable ecosystem
Our Vision
Our Vision To be a sustainability leader in the realty industry by creating long-term value for stakeholders through an ESG focused business strategy.
ESG Framework
Our ESG framework aligns with our purpose and aims at creating consistent and sustainable value for all our stakeholders. The framework is driven by our resolute purpose of building an ecosystem that prioritizes environmental wellbeing, societal development and mainstreaming the principles of ethical business conduct.
Supported by our purpose, we have identified the key strategic pillars that encompass the aspects of ESG pertaining to the nature of our business. These pillars are the cornerstones of our ESG strategy that enable us to focus on and respond to material issues in order to fuel our growth and create value for all.
Through our strategic pillars, we have outlined the focus areas, which are critical to our business. These focus areas help us in developing and implementing meaningful initiatives that aim at addressing key material issues and exploiting opportunities.
We have a robust governance system that guides us in all our initiatives and ensures that our efforts are on the right path.
Building a sustainable ecosystem
P1
Resource Conservation and Efficiency
P2
Employee and Community Relations
P3
Responsible Business Conduct
Carbon Neutral Operations
Futuristic Buildings
Human Capital
Development
Community and Tenant Relationships
Health and Safety
Human Rights & Ethical
Conduct
Responsible Sourcing & Supplier Engagement
Responsible
Portfolio
Through our mindful strategies, we aim to minimize impact on the environment by adopting sustainable practices such as optimum resource utilization, integrating technological interventions, striving for carbon-neutral operations and promoting green energy across all our projects
Carbon Neutral Operations
Our aim is to decarbonise our business activities to transition towards a low-carbon economy. In this effort, our focus is directed towards reducing GHG emissions, adopting renewable sources of energy, and improving energy efficiency, among other initiatives.
Futuristic Buildings
We develop smart and futuristic buildings that can be instrumental in implementing digital interventions, reducing power consumption, improving water savings, and enhancing resource efficiency to create more sustainable spaces. Through this initiative, we endeavor to effectively manage water, adopt the concept of a circular economy across our business, and accomplish accreditations that make us a reliable partner.
Policy Support: We have developed a Resource Conservation and Efficiency policy, which emphasizes on our efforts towards using resources sustainably. The policy serves as a guidance document to develop and implement programs in line with our focus areas.
Our efforts are directed at the holistic development of our employees by providing them relevant opportunities to learn and grow. We strive to meet the evolving needs of our tenants. Our initiatives also extend towards uplifting the communities around us.
Human Capital
Development
We recognize our workforce as our most valued asset. Hence, we focus on investing in the overall development of our employees and promote diverse views to fuel organizational growth. To this end, we emphasise employee learning and development to encourage our employees to upgrade their personal and professional competencies. Additionally, we believe that a diverse workforce is critical to our organization’s consistent success. We promote a culture of diversity and inclusion to motivate our employees to share different opinions and perspectives.
Community and Tenant Relationships
We aim to ensure continuous engagement with our surrounding community and tenants to identify and address key issues, and to operate in a responsible manner. Our goal is to uplift the society by contributing towards their development by providing them the opportunities to thrive. Also, we aspire to regularly interact with our tenants to understand their expectations and acting on them to accelerate the satisfaction level of our tenant base.
Health and Safety
We prioritize on the health and safety aspect of our business. In this regard, we aim to undertake measures to ensure utmost health and safety of our employees and tenants. We endeavor to do this by incorporating right strategies in our business activities to monitor and assess health-related risks and address them.
Policy Support: Our Employee & Community Relations policy establishes guidelines to ensure good health and wellbeing of our employees and strong relationship with our communities.
We are committed to the highest standards of ethical conduct and integrity across our organization. We respect human rights of the stakeholders across our value chain. Also, we place a great emphasis on applying stringent measures while empaneling suppliers to make sure they align with our sustainability vision.
Human Rights & Ethical
Conduct
We strive to respect Human Rights of stakeholders across our value chain on a foundation of ethical conduct for sustained economic growth. To this end, we focus on respecting the rights of the local communities by preventing human rights violations. Also, we aim to maintain a reliable grievance mechanism that helps us to record the feedback and grievances of our stakeholders and take necessary actions to address them.
Responsible Sourcing & Supplier Engagement
Through our initiatives, we aim to apply measures while sourcing or empaneling suppliers through a supplier code of conduct that outlines the behaviors, which we expect of our suppliers and their staff. Furthermore, we strive to take efforts during the process of supplier selection by screening them based on the ESG criteria.
Responsible
Portfolio
We aim to build a responsible portfolio to minimize environmental footprint and mitigate climate risk. We plan to do this by integrating the aspects of ESG into our acquisition or investment decision- making process to make responsible investments.
Policy Support: We have implemented the Responsible Business Conduct policy, which highlights our commitment to highest standards of ethical conduct and integrity. This policy guides the development and implementation of the programs that we endeavor to take for building a responsible portfolio.
A Responsible Framework to Build Value
Strong Corporate Governance
Corporate governance is at the core of our business. We aim to strengthen our governance structure to ensure that our business practices are ethical and reflect the best interests of all our stakeholders. We have intertwined a culture of integrity, transparency and ethics in our organization to generate stakeholder value that lasts. While we are committed to conducting business with the highest standards of corporate governance, the resolute commitment of our employees, leadership team and business partners enable us to build a responsible entity.
While we aspire to promote responsible practices throughout our value chain, our constant focus remains on strengthening our corporate governance, since it is the backbone of our persistent success. We have experienced governing bodies with robust processes and policies to implement strict adherence to the compliance framework. Furthermore, we endeavor to promote diversity and inclusion within our governance structure as well. To this end, our governing bodies have qualified and highly experienced members across different age groups.
Our ESG-focused Governance
We have a cross-functional ESG governance framework, which is especially responsible for identifying, developing, and monitoring our ESG efforts.
Governance
Structure
Governance
Cross-functional ESG Governance Framework responsible for identifying, finalizing and monitoring, systems and processes
Executive Committee
Committee comprising board members and KMP's to oversee ESG Implementation
ESG Committee
Management leaders to steer the implementation of ESG Strategy
Our ESG-focused Governance
We have a cross-functional ESG governance framework, which is especially responsible for identifying, developing, and monitoring our ESG efforts.
Governance
Cross-functional ESG Governance Framework responsible for identifying, finalizing and monitoring, systems and processes
Executive Committee
Committee comprising board members and KMP's to oversee ESG Implementation
ESG Committee
Management leaders to steer the implementation of ESG Strategy
Executive Committee
Executive committee is responsible for steering the implementation of ESG strategy. The Committee provides specific guidance and operational insights on the ESG initiatives of the Company and keeps the Board updated on the progress and industry developments in the ESG space. The Committee shall focus on developing a sustainabilitydriven culture. The committee is empowered to form committees/groups as and when required for undertaking ESG initiatives and achieve set targets in relation to ESG strategy.
ESG Committee
ESG Committee includes managers/representatives from across the functions including leasing, asset management, projects, corporate finance and investor relations, and compliance. The Committee is responsible for the implementation of ESG strategy, sustainability initiatives and roadmap to achieve the set targets. The Committee also assesses material and strategically ESG significant matters and implement policies, practices and disclosures in conformance with the ESG strategy. The ESG committee meets at periodic intervals to ensure alignment towards ESG goals and provides updates to Executive Committee from time to time.
Corporate Governance Framework
Trustee
Axis Trustee Services Limited ensures that Mindspace REIT’s activities comply with REIT regulations applicable to it.
Governing Board
K Raheja Corp Investment Managers LLP, the Manager to Mindspace Group, is responsible for overall strategy of Mindspace Group, overseeing business activities and ensuring compliance with applicable laws and policies.
Executive Committee
The Executive Committee comprises of the members of the Board and Key Managerial Personnel.
Audit
Committee
Investment Committee
Stakeholders Relationship Committee
Nomination and Remuneration Committee
Risk Management Committee
The Committees are responsible for overseeing the governance, financial reporting and control environment, stakeholder management, and strategy of Mindspace, amongst others. Majority of our Board is independent with an independent Chairperson of the Board.
1Dissolved with effect from September 14, 2020.
Chief Executive Officer
Chief Financial Officer
Our Manager ensures timely and efficient compliance by implementing robust systems, processes and policies.
Corporate Governance Framework
Our Manager ensures timely and efficient compliance by implementing robust systems, processes and policies.