Earth Forward Dialogues continue: ESG visionaries explore discussions on sustainable strategies at Candor TechSpace Sector 48, Gurugram

In the contemporary business landscape, sustainability is no longer a choice but an indispensable foundation for operations. At the core of this transformation are the foundational principles of Environmental, Social, and Governance which are guiding sustainable solutions, fostering value creation, and driving community betterment. As ESG takes centre stage, the need for responsible governance mechanisms has become paramount in reshaping businesses. Notably, the Securities and Exchange Board of India (SEBI) is pushing for ESG accountability, an initiative that significantly impacts the ESG performances of companies. Exploring evolving policy frameworks is necessary for aligning corporate actions with sustainable and responsible business growth, ensuring that principles align with practice. Many businesses with an eye towards the future are also navigating this complex terrain with the use of data analytics which has emerged as a functional tool for mitigating risks and developing sustainable solutions. With all this and more, staying ahead of emerging challenges and harnessing ESG opportunities is paramount.

Building upon this vital bedrock, Brookfield Properties, in partnership with The Economic Times, has introduced the Earth Forward: ESG Dialogues— an exclusive series that aims to propel these discussions forward and catalyse a better world for individuals, businesses, and communities. This expansive event series spans multiple cities, including Bengaluru, New Delhi, and Mumbai, bringing together an illustrious panel of thought leaders, visionaries, and trailblazers from various sectors. Following a successful inaugural dialogue in Bengaluru, the journey towards a more sustainable and equitable world continued with the Earth Forward Dialogues at the esteemed Candor TechSpace Sector 48 in Gurugram. This edition of Earth Forward Dialogues gave a platform for meaningful discussions on sustainable strategies, responsible governance, data analytics, and policy impacts.

ESG visionaries Convene at Candor TechSpace Sector 48, Gurugram

As Earth Forward Dialogues made its way to Gurugram, the stage was set at the remarkable Candor TechSpace, Sector 48. Operated by Brookfield Properties, this Grade A office special economic zone spans across a sprawling 25.2 acres, strategically positioned at a prime location with seamless access to NH8, swift exit routes to Delhi, and effortless connectivity to the international airport. Sprawling across 3.7 million square feet, the campus harmoniously integrates open green spaces, thoughtfully curated breakout zones, pedestrian-friendly walkways, and a diverse array of amenities. Apart from its impressive size and strategic location, what sets this asset apart is its international standards of quality. The architecture boasts highly efficient floor plates and premium building structures that cater to the evolving needs of modern businesses.


Brookfield Properties recognises that buildings are more than just physical structures and how architecture often goes a long way in shaping communities. As a global leader in real estate, it understands the transformative power of real estate in shaping the world and this reflects in their commitment to sustainability. This explains why embracing sustainable design in our buildings can help us reimagine real estate and ultimately design a better world. Brookfield Properties extends this thought to its design infrastructure and seeks to create environments that are inspiring, safe, efficient, and vibrant for people who work in, live in, and visit them every day. One of the most notable demonstrations of this is Brookfield Properties’ accelerated Net Zero target, set for 2040, which encompasses their entire 50 million square feet portfolio in India.

As Earth Forward Dialogues unfolded at Candor TechSpace, Sector 48 Gurugram ESG visionaries explored sustainable strategies, engaged in responsible governance discussions, delved into the power of data analytics, and deciphered the impacts of policies.

Navigating sustainability, innovation, and community

Visionary innovator and change-maker Sonam Wangchuk played a pivotal role in setting the stage for the Earth Forward Dialogues. Wangchuk is best known for his pioneering work in addressing the critical issue of water scarcity in Ladakh's arid landscapes. He founded the Students' Educational and Cultural Movement of Ladakh (SECMOL), an organisation that has gained international recognition for its unconventional educational methods, transforming the educational landscape in Ladakh. Wangchuk's extraordinary contributions were recognised with the prestigious Ramon Magsaysay Award in 2018. In his address at the event, Wangchuk underscored the imperative for businesses to embrace sustainability by making the processes inclusive for community participation. His message was clear- adaptation is a critical element in our efforts to mitigate the impacts of climate change. He highlighted how Ladakh is tackling this challenge head-on by harnessing solar energy and how this shift is not only combating environmental degradation but also advancing a path towards sustainable, regenerative development driven by the region's natural resources. He drove home the importance of minimising environmental harm, promoting regenerative practices, and confronting the alarming scale of species extinction.

“The small fixes that we do in the mountains are nothing if the bigger cities don’t adopt more sustainable practices. It is very important for people in big cities to change their lifestyles,” Wangchuk said, emphasising on community living and interdependence to address environmental problems, drawing lessons from the inclusive and supportive communities of Ladakh.

Keynote insights: Integrating ESG principles for positive impact

Munish Mathur, Senior Vice President at Brookfield Properties, kicked off the Earth Forward Dialogues with an insightful keynote address. He highlighted the crucial impact that workplaces can have on individuals and organisations, stressing the need for the seamless integration of ESG principles into business philosophies and practices. Mathur underscored the overarching objective of the Earth Forward ESG series, which is to foster discussions around innovative ideas and drive tangible positive change on the ground.

Climate change and the imperative to increase green cover emerged as top priorities within Brookfield Properties campuses. Mathur articulated Brookfield Properties’ unwavering commitment to its ESG journey, including a Net Zero Target by 2040. The focus areas for this commitment include waste management, water conservation, energy efficiency, and biodiversity enhancement. He revealed the goal of Brookfield Properties of elevating green cover within its campuses from the current 20% to an ambitious 30%. Mathur also highlighted Brookfield Properties’ comprehensive biodiversity report, which meticulously catalogues over 200 trees and plant species within their campuses and their significant contributions to the climate and environment.

Furthermore, Mathur showcased Brookfield Properties’ deep commitment to communities, both within and around their properties, emphasising their people-focused approach, universal accessibility, and empowerment initiatives.

Mathur stated, “In Brookfield Properties, we are committed to our ESG target. Brookfield Properties is committed to its ESG journey, including a Net Zero Target by 2040, and for this, we are focusing on waste, water, energy, and increasing biodiversity."

Panel discussion: Unpacking responsible governance mechanisms

The panel discussion, a centrepiece of the Earth Forward Dialogues, brought together a distinguished group of experts and thought leaders to delve into critical ESG themes. Guiding this insightful discussion was Ashutosh Sinha, Senior Editor at The Economic Times, who adeptly moderated the session, making it a valuable and thought-provoking part of the Earth Forward event.

The discussion revolved around responsible governance mechanisms and their pivotal role in advancing sustainability. The expert panel included Arun Khanna from UnitedHealth Group, Gokul Pandian from EY, Umit Bhatia from Jones Lang LaSalle, and Mukund Kumar from Brookfield Properties. Together, they dissected actionable items that businesses can implement in the short and long term to drive sustainable change.

Building ESG capacity: From policy to effective management
In the panel discussion, Umit Bhatia took us back to the evolution of the Corporate Social Responsibility wing in organisations, highlighting how from primarily being a requirement for corporations to establish a charitable foundation it evolved into a triple bottom line concept. The concept then underwent a transformative shift towards nested sustainability, aligning with the United Nations' Sustainable Development Goals (SDGs) that encompass 17 diverse goals. She noted how the challenge in the current landscape is that many corporations tend to select the easier, more attainable SDGs to highlight in their reports, while the broader, interconnected nature of these goals can sometimes lead to an incomplete portrayal of their overall sustainability efforts.

“It is important for corporations to recognise that taking the route towards NetZero isn’t about stopping the emission of carbon dioxide one fine day, but more about building a balance between how much one consumes and how much one emits. India’s approach to it has been quite pragmatic, with our prime minister stating that we won’t be able to meet these frameworks by 2050 and that we will aim to achieve it by 2070. Since then, we have come up with a lot of reforms to tackle these challenges,” Umit added.

A rising emphasis on ESG indicators
Another key area of discussion was the increased focus on ESG indicators in financial regulation. The financial regulatory landscape is witnessing a significant upsurge in the emphasis on ESG indicators. Regulatory bodies like the Securities and Exchange Board of India (SEBI) are intensifying their oversight, ushering in a slew of new ESG indicators. The panellists highlighted the growing role of regulation, particularly from SEBI, which is introducing more indicators to monitor ESG performance. The evolution of the Business Responsibility and Sustainability Reporting (BRSR) framework, which is expanding from 15 to 140 indicators, with a detailed analysis encompassing 179 indicators across environmental, social, and governance parameters was also discussed.

“A notable shift in the regulatory landscape is the move from ‘limited assurance’ to a more stringent ‘reasonable assurance’ requirement, underscoring the importance of thorough ESG reporting. Moreover, the top 150 companies by market capitalization are mandated to provide complete and comprehensive data, further reinforcing the significance of ESG indicators in financial regulation,” Gokul Pandian observed.

Simplifying the journey towards Net Zero
In the ongoing discussion on climate change, achieving Net Zero emissions has emerged as a crucial objective. It is vital to comprehend both the broader perspective and the significance of the small, incremental steps necessary to establish and pursue long-term and short-term sustainability goals. This comprehensive understanding is instrumental in navigating the complexities of this ambitious mission. The panel discussion underscored the importance of simplifying the approach to Net Zero emissions, emphasising the journey itself as a crucial focus. This approach, rather than being overwhelmed by daunting numbers, encourages a practical path to success. Moreover, the role of corporations in championing sustainable practices, such as occupying lead-rated buildings, was identified as a pivotal element of the solution. This emphasis on sustainable practices underscores the impact that businesses can have in realising the objective of Net Zero emissions. On this, Arun Khanna adds, “Ultimately, while Net Zero may be a theoretical concept, achieving mitigation is a formidable and necessary goal that requires collective effort and a clear, practical strategy.”

The discussion underscored a vested interest in addressing climate change due to market drivers and customer demand. Panellists stressed the importance of adopting a consistent and science-based methodology with standard primary data for reporting purposes. They also drew attention to the challenges associated with Scope 3 emissions, which rely heavily on assumptions and secondary data quality. In this context, a stringent framework and reporting structure are deemed essential to prevent gaps in areas such as waste management, emphasising that any form of mitigation should begin at the inception of procurement. Conscious procurement emerged as a critical strategy for reducing waste and costs for organisations. highlighted the benefits of procuring materials consciously, resulting in less waste and reducing the number of vendors needed for waste disposal.

Mukund Kumar highlighted Eco World's remarkable achievement of attaining net zero waste on its Bangalore campus which surpassed the initial target of less than 3% waste and served as a model of effective waste management. Their success was rooted in a comprehensive approach that included waste generation reduction and segregation, alongside a robust educational initiative on waste segregation, complete with strategically placed bins and collection schedules. He also spoke about the need for conscious procurement as a strategy to not only minimise waste but also streamline operations, ultimately reducing the need for numerous waste disposal vendors.

Cultural Integration of ESG for sustainable transformation
The cultural embeddedness of ESG within Indian companies also emerged as another central theme during the discussion. Panellists recognised that this cultural integration involves a dual approach—both top-down and bottom-up. While leadership plays a crucial role in setting the tone and vision for ESG initiatives, grassroots support and engagement from employees at all levels are equally vital. The bottom-up approach ensures that ESG values are genuinely embraced by all members of the organisation. It encourages employees to take ownership of sustainability practices and become ambassadors for positive change.

The panel discussion stressed the importance of forming core teams dedicated to ESG implementation and capacity building at various organisational levels. This process extends beyond just policy creation and involves the development of effective management systems. Further, effective communication, both internally and externally, was identified as a critical factor in activating the ESG culture within an organisation. By conveying their commitment to sustainability and ethical practices, companies can not only inspire their employees but also engage with stakeholders and the broader community, reinforcing their dedication to responsible business conduct. In essence, the discussion shed light on the multifaceted nature of integrating ESG into organisational culture, emphasising its role as a catalyst for positive change and growth.

The discussion concluded by highlighting the need for companies to align with evolving global reporting standards. Panellists acknowledged the challenge of aligning with these standards and noted that companies often follow a mix of relevant standards based on their nature of business. They stressed the necessity of a top-down approach for governance and accountability and emphasised that every department and function in an organisation must contribute towards the sustainability agenda.

The Earth Forward Dialogues panel discussion provided a comprehensive exploration of ESG topics, shedding light on the critical role of responsible governance mechanisms in today's business landscape, with the push for ESG accountability by regulatory bodies like SEBI. Equally significant was the call for corporates and communities to collaborate, reimagining urban spaces and fostering cleaner, greener cities, demonstrating the power of collective action in environmental sustainability. The discussion resonated with the need for nurturing ESG-focused policies, recognizing the evolving policy frameworks as a catalyst for coordinated actions in sustainable and responsible business growth.

Brookfield Properties forging a path towards sustainable impact
Embarking on an ESG journey that resonates with the mission of Earth Forward, Brookfield Properties is at the forefront of pioneering sustainability across diverse sectors. Their unwavering commitment to fostering best environmental practices mirrors the global impact envisioned by the Earth Forward initiative. Their remarkable journey has been highlighted with a prestigious 5-star ESG rating from GRESB, a recognition earned during their inaugural submission in 2021, complemented by an impressive investment score of 90. Of notable significance is their ambitious target to achieve net-zero emissions by 2040, a commitment that extends across their extensive 50 million square feet Indian portfolio. This aspiration underscores Brookfield Properties' unwavering dedication to forging a greener and more sustainable path forward.