Mumbai, March 11, 2025: Standard Chartered and the Indian Green Building Council (CII IGBC) have inked a Memorandum of Understanding to boost financing for green buildings in India. The initiative is set to fast-track the adoption of energy-efficient construction practices, helping to slash the nation’s carbon emissions. This collaboration represents a major stride toward achieving India’s environmental and energy targets by reducing the construction industry’s carbon footprint. The organisations issued a joint statement yesterday to announce the tie-up.
The memorandum of understanding (MoU) was signed by Ankur Khurana, Co-Head, Client Coverage, India and South Asia, Standard Chartered and K. S. Venkatagiri, Executive Director, CII Indian Green Building Council. Other dignitaries present on the occasion were Ms Mala Singh, Chairperson, IGBC Mumbai Chapter; Mr Sundeep V, Senior Counsellor, IGBC; Ms Shobana Chawla, Executive Director, Sustainable Finance, Standard Chartered; and, Mr Manmeet Singh Gulati, Managing Director, Head – Commercial Real Estate, Standard Chartered.
Key Highlights of the MoU:
Promoting Sustainable Finance – The collaboration aims to broaden access to sustainable financing for developers by providing Green Loans for CII IGBC-certified projects that achieve a minimum of 20% energy savings compared to baseline levels. This initiative ensures that the developments are both energy-efficient and sustainable.
Innovative Financing Models Ahead – CII IGBC and Standard Chartered are dedicated to piloting novel financing structures that will enhance their collaboration and create new prospects for developers. The alliance will continuously adapt to address the evolving demands of the green building industry, thereby supporting India’s broader sustainability goals.
Commenting on this tie up, Ankur Khurana, Co-Head, Client Coverage, India and South Asia, Standard Chartered, said, “We are proud to partner with CII IGBC to promote sustainable finance for development of green certified buildings. This initiative is expected to not only support sustainability but also bring long-term economic advantages through energy savings generated by these green buildings. Sustainable finance is one of the strategic priorities at Standard Chartered Bank and we believe that transition to a low carbon economy presents a significant opportunity to accelerate sustainable growth in the world economy”.
K. S. Venkatagiri, Executive Director, CII Indian Green Building Council (IGBC), said, “This MoU represents a powerful collaboration between two entities committed to creating a sustainable future. Through our partnership with Standard Chartered, we aim to offer developers the tools and resources they need to build energy-efficient and environmentally friendly buildings. Together, we are not only reducing the environmental impact of the construction industry but also accelerating the growth of India’s green building sector.”
