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Post at: Sep 20 2022

The Asia Pacific Sustainability Index 2021

Why in News 

  • Recently, the Asia Pacific Sustainability Index 2021 which was titled Active Capital Asia-Pacific - Rising Capital in Uncertain Times, launched by Knight Frank, an International property consultant based in London, UK.

About the Asia Pacific Sustainability Index 2021

  • The index is based on urbanisation pressure, carbon emissions, climate risk, and government initiatives.
  • The index standard refers to the willingness of the cities in accepting and adapting to environment, social and Governance metrics.
  • The index is divided in 3 standard category   platinum, Gold and silver.
  • It includes 36 cities, which  were ranked on the above parameters.
  • The 2021 Active Capital Asia-Pacific Report - Rising Capital in Uncertain Times aims to provide an insight into how the real estate market in Asia-Pacific performed historically and how it is predicted to play out in 2022, thereby acting as a guide for investors.
  • The report also highlights an important theme – Environmental, Social and Governance (ESG) – for investors that are looking to expand their ESG foothold in their portfolios.
    • The index includes  four Indian cities viz., Bengaluru, Hyderabad, Delhi, and Mumbai, which have been ranked among top 20 sustainable cities.

Global scenario

  • Index has been topped by Singapore.
  • It is followed by Sydney, Wellington, Perth, and Melbourne.
  • These are the top five green-rated cities in commercial real estate in the Asia-Pacific region.
    • These five cities earned  platinum category which is the highest category in index.

Indian Scenario

  • Among the Indian cities, Bengaluru was ranked first.
    • It has been ranked 14th in the Asia-Pacific region.
    • Bengaluru is the only Indian city to achieve the ‘Gold’ standard category.
  • Bengaluru is followed by Delhi, which has been ranked 17th in the ASIA Pacific Region.
  • Hyderabad has been ranked 3rd in India and 18th in Asia-Pacific region.
  • Mumbai is ranked 4th among Indian cities and 20th in Asia-pacific region.
    • Delhi, Hyderabad, and Mumbai achieved the silver standard category.

Reason for India’s performance

  • The new market dynamics have propelled the growth of sustainable development in India.
  • The global commitment to carbon neutrality and Net Zero focused on creating environmentally-friendly premises, has led Indian developers to augment their products to meet the requirements,”.
  • The report also noted that India’s Green Bonds issuance increased 523 per cent year-on-year (YoY), from $1.1 billion in 2020 to $6.8 billion in 2021.
    • India is the sixth-largest country in APAC in terms of the total amount of green bonds issued in 2021.
    • Green bonds are a specific kind of fixed income instrument designated to raise funds for projects related to the environment and climate.

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