Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been recognised as one of the 100 most sustainable corporations across Asia in the 2016 edition of the Channel NewsAsia Sustainability Ranking. The company ranked at No. 28 on this year's list, up 28 places from last year’s rank of 56, and was acknowledged for its performance in the areas of product sustainability and human capital development, among other considerations. The ranking is a joint initiative between Sustainalytics, an independent ESG and corporate governance research, ratings and analysis firm; Channel NewsAsia, a prominent Asian TV news channel; and CSR Asia, a leading provider of advisory, research and training services on sustainable business practices in Asia.
“At Mahindra Lifespaces, sustainable development is an act of business responsibility as well as environmental stewardship. We believe our focus on ESG fosters innovation, minimises risks and drives a culture of transparency and efficiency that is vital to the growth of our business." said Anita Arjundas, Managing Director, Mahindra Lifespace Developers Limited.
The annual Channel NewsAsia Sustainability Ranking is the first of its kind in Asia and straddles diverse sectors; these include Real Estate, Consumer Goods & Services, Energy & Utilities, Technology, Transportation & Logistics, Media & Telecommunications and Healthcare, among others. Evaluation parameters include Operations, Supply Chain, Products and Services, Employees, Customers, Philanthropy, Ethics, Corporate Governance and Public Policy. The ranking strives to recognise these efforts and help the public, businesses and the investor communities make informed decisions. Each year, regional leaders in corporate sustainability across 11 key Asian economies are honoured for their endeavours in these areas. It also provides businesses and their stakeholders with a measure to benchmark their performance against other regional businesses.
In 2016, Mahindra Lifespaces was also ranked No. 2 in Asia in the Diversified/Listed category of real estate companies, in the Global Real Estate Sustainability Benchmarking (GRESB) report. GRESB is a Netherlands headquartered, industry-driven organisation committed to assessing the sustainability performance of real estate portfolios around the globe. Nearly 1,100 companies and funds have been assessed globally by GRESB.