In a landmark move aimed at transforming India’s real estate sustainability landscape, the Global Real Estate Sustainability Benchmark (GRESB) and the Confederation of Indian Industry’s Indian Green Building Council (CII-IGBC) have signed a Memorandum of Understanding (MoU) to bridge India’s green finance gap and accelerate the development of net zero buildings.
The MoU was formalised at the 23rd Green Building Congress 2025, held at Mumbai’s Jio World Convention Centre. The partnership seeks to streamline green financing pathways by enabling developers, lenders, and investors to structure green loans, ESG-linked credit lines, and sustainability-focused financial instruments for projects aligned with IGBC ratings and GRESB benchmarks.
A Major Push Toward Green Finance Mobilisation
Under the new alliance, GRESB and IGBC will collaborate to standardise sustainability metrics, data frameworks, and benchmarking tools so that green real estate portfolios become more bankable, comparable, and attractive to long-term capital.
The partnership also aims to make ESG-aligned performance a core part of India’s real estate credit appraisal system—an advancement industry experts have long called for.
National Housing Bank, Major Banks Already Expanding Green Lending
CII-IGBC shared that the National Housing Bank has already deployed over ₹2,200 crore through dedicated green housing schemes for IGBC-certified projects. Leading Indian and global banks—including SIDBI, SBI, HDFC, ICICI Bank, and Standard Chartered—are also offering:
- Concessional green home loans
- Green development finance
- Sustainability-linked bonds
- Preferential credit for IGBC-certified buildings
IGBC certifications are additionally recognised by key global sustainable finance bodies including the Climate Bonds Initiative and the Asian Development Bank, enabling Indian green buildings to tap global climate capital pools.
Industry Leaders Emphasise Common Standards and Data Transparency
The MoU was signed by:
- Roxana van den Berg, Chief Product Officer, GRESB
- K.S. Venkatagiri, Executive Director, CII-Green Business Centre
Both leaders underlined the critical need for consistent ESG data frameworks, credible metrics, and transparent reporting to mainstream sustainability into India’s built environment financing systems.
The collaboration will help developers demonstrate performance against internationally recognised ESG benchmarks, improving investor confidence and strengthening India’s position in the global green finance market.
A Significant Milestone in India’s Net Zero Journey
The GRESB–IGBC partnership marks a major step toward integrating India’s real estate sector into global sustainable finance networks. With real estate contributing significantly to India’s carbon emissions, solutions that combine green certification + ESG benchmarking + green capital are essential for achieving national net zero targets.
This move is expected to unlock larger green investments, reduce financial risk for lenders, and help scale up India’s green building ecosystem across residential, commercial, and mixed-use developments.
Also Read: Green Building List: Maharashtra On Top.