Embassy REIT surges about 2% after receiving green loan certification for loan facilities worth Rs 730,000,000


Embassy Office Parks REIT has received Green Lending Certification from Axis Bank’s Climate Bonds Initiative for loan facilities worth Rs730 crore.

In the Indian real estate sector, Embassy REIT is the first-ever organization to receive Green Loan Certification from the Climate Bonds Initiative.

Climate Bonds Initiative is an international, investor-focused non-profit organization that works to mobilize global capital for climate action towards a low-carbon, climate-resilient economy.

“We are pleased to receive this certification from the Climate Bonds Initiative, recognizing our sustainability efforts focused on increasing our share of renewable energy to achieve our net zero 2040 commitment. We are pleased to report that with With this certification, we have secured cumulative sustainable funding of over Rs2,170 crore, well ahead of our FY2024 target of Rs1,000 crore. As a result, approximately 50% of our total debt at the SPV level is now certified green. We will continue to work towards our sustainability vision by scaling up our ongoing ESG programs and engagements,” commented Michael Holland, CEO of Embassy REIT.

Earlier in October 2021, Embassy REIT also raised Rs 650 crore SPV level debt from Axis Bank, which was used to refinance a construction loan for its 100 MW solar project in Bellary, Karnataka. It has also secured an additional loan worth Rs80 crore for the ongoing construction of one of Asia’s largest solar rooftop projects with a capacity of over 20MW at the Pan-India properties of Embassy REIT . Now, both of these loans have been certified as green loans, bringing Embassy REIT’s cumulative sustainable funding portfolio to over Rs 2,170 crore.

Embassy Office Parks REIT is currently trading at Rs367 up Rs5.6 or 1.55% from its previous close of Rs361.40 on BSE. The counter touched the daily high and low of Rs368.60 and Rs359 respectively.


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