In a bid to enhance sustainability in real estate, Karnataka introduces a groundbreaking circular economy policy aimed at eco-friendly construction practices.
Karnataka is taking significant steps towards establishing India’s first circular economy policy, with a particular focus on sustainability within the real estate sector. This initiative was introduced by Priyank Kharge, the state Minister for IT & Biotechnology and Science and Technology, during the Propagate 2024 summit, which took place in Bengaluru. The policy aims to mandate that 20% of all construction materials used in new projects be eco-friendly, reflecting a broader commitment to sustainability in building practices.
The Propagate 2024 summit provided a platform for over 500 industry leaders and stakeholders to engage in discussions centred around proptech, the intersection of property and technology. The event underscored the significance of advancements in technology necessary for the scaling of proptech and urban tech initiatives. Kharge noted the transformation of Bengaluru into a leading disruptive city on the global stage, crediting progressive state policies that support innovation and sustainability. He stated the importance of collaboration between the government and the industry, emphasising that such partnerships are crucial to achieving a sustainable future for India.
Among the various technologies discussed, blockchain and artificial intelligence were highlighted as pivotal tools in the real estate sector. These technologies are anticipated to facilitate more transparent transactions and improve operational efficiency in property dealings, thereby contributing to the overall efficiency of urban development.
The discussions at the summit not only reflect Karnataka’s commitment to steering India’s real estate sector into a more sustainable future but also indicate the state’s role in embracing digital transformation through innovative policies and technological advancements. The event acted as a crucial point of convergence for ideas and strategies aimed at fostering a more sustainable and technologically advanced real estate market in India.
Source: Noah Wire Services
- https://www.deccanherald.com/india/karnataka/karnataka-plans-new-circular-economy-policy-2651705 – Corroborates Karnataka’s plans for a new circular economy policy, focusing on sustainability and the involvement of Minister Priyank Kharge.
- https://www.deccanherald.com/india/karnataka/karnataka-plans-new-circular-economy-policy-2651705 – Details the policy’s aim to set sustainability benchmarks for the government and private sector, including the use of eco-friendly materials.
- https://indianexpress.com/article/cities/bangalore/karnataka-indias-first-circular-economy-policy-priyank-kharge-9706549/ – Supports the requirement that 20% of all construction materials be sustainable as part of the circular economy policy.
- https://www.deccanherald.com/india/karnataka/karnataka-plans-new-circular-economy-policy-2651705 – Highlights the importance of collaboration between the government and industry for achieving a sustainable future, as emphasized by Minister Priyank Kharge.
- https://www.secondmuse.com/the-journey-2024-advancing-a-circular-economy-in-bengaluru/ – Although not directly about the Propagate 2024 summit, it underscores Bengaluru’s commitment to sustainability and innovation, aligning with the broader context of Karnataka’s circular economy initiatives.
- https://journey.climate-kic.org/bengaluru/ – Provides context on Bengaluru’s waste management challenges and the need for innovative solutions, which aligns with the state’s broader focus on sustainability and circular economy.
- https://www.deccanherald.com/india/karnataka/karnataka-plans-new-circular-economy-policy-2651705 – Mentions the role of technology in sustainability, such as using plastic waste for road construction, which reflects the technological advancements discussed at the summit.
- https://indianexpress.com/article/cities/bangalore/karnataka-indias-first-circular-economy-policy-priyank-kharge-9706549/ – Corroborates the introduction of the policy by Minister Priyank Kharge and its focus on sustainability in the real estate sector.
- https://www.secondmuse.com/the-journey-2024-advancing-a-circular-economy-in-bengaluru/ – Highlights the importance of innovation and technological advancements in achieving a sustainable future, which is in line with the discussions at the Propagate 2024 summit.
- https://journey.climate-kic.org/bengaluru/ – Details the focus on upstream innovation and circular business models, which is consistent with the broader themes of sustainability and technological innovation discussed at the summit.
- https://www.deccanherald.com/india/karnataka/karnataka-plans-new-circular-economy-policy-2651705 – Emphasizes the state’s progressive policies supporting innovation and sustainability, reflecting the transformative role of Bengaluru as discussed at the summit.
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