“Powerful Catalyst for Change: McKinsey Report Highlights Real Estate’s Vital Role in Global Climate Change Mitigation on World Environment Day 2023”
World Environment Day is a global celebration to raise awareness among the general population about environmental challenges and inspire actions to conserve our planet.
In an era dominated by climate change and pollution headlines, the imperative for housing society residents to shoulder the responsibility of environmental preservation and strive for self-sufficiency becomes paramount.
On World Environment Day (5th June, 2023 Monday), there have been noteworthy green initiatives undertaken by housing societies in Mumbai, Bengaluru, and Delhi. Some societies have successfully pursued self-sufficiency in energy through harnessing solar power, while others have focused on conserving precious water resources. The events revolved around the core themes of conservation, embracing sustainable lifestyles, and safeguarding natural resources.
In 2022, a McKinsey report shed light on real estate’s pivotal role in climate change mitigation worldwide. The report highlighted that the real estate sector accounts for 39% of global emissions. Around 11% stems from manufacturing building materials (including cement and steel). The remaining emissions arise from the buildings only. The other amount comes from the energy required to power them.
Amidst the polluted air of Delhi, a breath of pure air emerges. It is known that Delhi-NCR grapples with annual air pollution. The situation worsens particularly during winter. As per reports, real estate is a significant contributor alongside stubble burning. However, the former president of the Defence Colony RWA (Resident Welfare Association), (Delhi), Mr. Ranjit Singh, believes that today’s homebuyers exhibit heightened awareness and concern for environment-friendly initiatives, compared to the state of affairs five years ago.”
NEW DELHI: The Municipal Corporation of Delhi (MCD) honoured 127 residents’ welfare associations under its Sahbhagita Scheme, introduced earlier this year, as part of the World Environment Day celebrations. Under the Sahbhagita Scheme, resident welfare associations (RWAs) that actively engage in waste segregation and processing within their colonies receive a 5% incentive on their total property tax payment. This incentive amount is exclusively allocated for development work within their respective colonies, which may include initiatives like creating park areas and installing benches. The scheme allows for a maximum incentive of Rs 1 lakh for development projects.
The thriving colony, comprises more than 6,000 apartments. It has recently embraced the installation of a solar panel system. Subsequently, this resulted in a significant reduction in electricity expenses.
Furthermore, encouraged by this success, the colony will already install another solar panel system. This one will be specifically for the clubhouse. Recognising the immense perks of energy conservation, individual homeowners have also begun adopting solar panels for their residences. Furthermore, they are implementing water harvesting pits, amplifying their commitment to sustainable living.
Preserving Bengaluru: Resident Welfare Association (RWAs) Spearhead Green Transformation and Water Conservation Efforts
Amidst concerns over floods and encroachments resulting from haphazard development, Bengaluru takes a positive turn as several (RWAs) Resident Welfare Associations, proactively drive green initiatives within their apartment complexes.
Century Saras, a residential project in Yelahanka (Ananthapura St., Bengaluru), stands as a shining example, with its 128 apartments collectively saving a staggering 10.8 crore litres of water on a yearly basis through sustainable practices. Also, in the year 2020, the RWA (Resident Welfare Association) invested Rs 30 lakh to install 50 kW of solar rooftop panels, rendering the common areas completely independent of the local electricity supply
“When we generate excess electricity from the solar panels, we often sell it to the Bangalore Electricity Supply Company Limited (BESCOM). Our environmental initiatives have resulted in savings of 22-24% in maintenance costs, which could potentially reach up to 40%,” revealed Mr Satish Mallya, an association member and a member of the Bengaluru Apartment Federation.
Revitalising Mumbai: Resident Welfare Associations (RWAs) Rally to Rescue Ecologically-Sensitive Zones
A portion of Mumbai, encompassing ecologically-sensitive areas, experiences a remarkable resurgence driven by the collective efforts of several Resident Welfare Associations (RWAs).
Adjacent to Link Road in Dahisar West, Mr Harish Pandey’s apartment overlooks nearly 400 acres of mangrove wetland. Unfortunately, illegal encroachments and construction have gradually diminished significant portions of this crucial ecosystem.
Mumbai, renowned for its ecologically sensitive areas, is experiencing a remarkable revival, thanks to the united efforts of Residential Welfare Associations (RWAs). Confronted with encroachments and illegal constructions, a coalition of 25-30 RWAs banded together to restore the diminishing mangrove wetlands. Following a three-year legal battle, the Supreme Court ruled in their favour, leading to the rejuvenation of the wetlands and a resurgence of biodiversity. This triumph has also positively impacted the local economy, particularly benefiting the lives of fishermen in the region.
On the occasion of World Environment Day, these inspiring accounts of RWAs spearheading sustainable initiatives underscore the significance of grassroots endeavours in driving a greener future for India’s real estate sector.
Additionally, approximately twenty-five to thirty Resident Welfare Association (RWAs) joined forces, each contributing at least Rs 11 per family. This was done to raise funds to restore these ecologically sensitive zones. Taking the matter to the Supreme Court, the homebuyers safeguarded the wetland. This was crucial as the wetland also served as a vital carbon sink.
Fortunately, after three years of perseverance, the court ruled in their favour, reviving the mangrove forest. Mr Harish Pandey expressed, “Today, the rejuvenation has not only enhanced biodiversity, but also positively impacted local economies, including the lives of fishermen residing in the area.”
