In the Asia Pacific (APAC) Sustainability Index 2021, four Indian cities- Bengaluru, Delhi, Hyderabad and Mumbai- have made it into the top 20 sustainable cities list.
Bengaluru is the only Indian city to be placed in the gold standard category, while Delhi, Mumbai and Hyderabad are ranked in the silver standard category. These cities were ranked in three out of the bottom four places, with Delhi in 17th place, Hyderabad being 18th and Mumbai being 20th.
Global property consultant Knight Frank, in its latest report, rated 36 cities based on urbanisation pressure, climate risk, carbon emissions and initiatives taken by the government, reported The New Indian Express.
What Do These Categories Signify?
When a city is placed in the gold category, it means that the city is slightly advanced and is somewhat open to accepting and adapting to Environmental, Social and Governance (ESG) metrics from all of its stakeholders to a certain extent. If a city is placed in the silver category, it means that the city is advanced and will accept and adapt to ESG metrics to a limited extent.
Other Report Findings
The top five spots in the green-rated cities in the Asia-Pacific region category were bagged by Singapore, Sydney, Wellington, Perth, and Melbourne, respectively.
The report also stated that India's Green Bonds issuance increased 523 per cent YoY, from $ 1.1 bn in 2020 to $ 6.8 billion in 2021. In the Asia-Pacific region, India is currently the sixth-largest country in terms of the total amount of green bonds issued in 2021.
The Covid-19 pandemic negatively impacted the green bond insurances in 2020, and it recovered in 2021, passing the pre-pandemic levels and posting an increase of 116.9 per cent from $3.1 billion raised in 2019.
Shishir Baijal, CMD, Knight Frank India, said, "New market dynamics have propelled the growth of sustainable development in India." He added that with more people demanding sustainable and well-standard buildings, the features will become a universal standard, not a novelty.
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