GRIP Child

active

This project entails an opportunity for IFC to employ its developed Greening Real Estate Investment Portfolios (GRIP) program to help real estate owner to develop a holistic decarbonization strategy across their portfolios and value chain. The objective is to aggregate retrofit and new construction projects under a portfolio engagement to create sizeable opportunities. The portfolios are expected to be a mix of new build, existing green buildings, and non-green buildings. The focus would be on institutionally owned, investment assets including office, retail malls, warehousing and industrial real estate, hotels, data centers, hospitals and education buildings to ensure concentrated ownership and diversification. As part of the project, IFC will deliver a comprehensive advisory package, including the GRIP strategy, Building Resilience Index (BRI) assessments, and support for achieving EDGE Advanced certification to Brookfield India Real Estate Trust (BIRET). GRIP advisory support will assist BIRET in identifying retrofit and upgradation measures at a portfolio-wide level. It will provide a structured approach to the decarbonization strategy of BIRET instead of taking ad-hoc measures at an asset level, which will be beneficial both for existing and future assets in achieving net zero. EDGE Advanced will be achieved in part by focusing on more sustainable cooling. The project will also analyze adaptation to rising temperatures by looking at cooling strategies needed to withstand rising heat in the future. The BRI Advisory will support build BIRET's capacity in identifying climate-related risks.