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IFC & WorldGBC team up to promote green buildings

Organisations will focus on emerging markets such as the Middle East

NEWS, Business, International Finance Corporation, World Green Building Council

International Finance Corporation (IFC) and the World Green Building Council (WorldGBC) are to collaborate to rapidly scale up the construction of green buildings in emerging markets.

The new partnership demonstrates a shared commitment to playing a leadership role in transforming the built environment and mitigating climate change.

The WorldGBC has agreed to connect its network of national green building councils to IFC’s investment and advisory program.

The WorldGBC’s local affiliate councils will certify green buildings through IFC’s EDGE, a new web application that reveals solutions at the early design stage to reduce energy, water, and material consumption by 20%.

The partnership will focus on rapidly urbanizing countries with surging population growth that need to build sustainably to avoid emissions growth, bolster energy security, and minimize resource depletion. The built environment is expected to double by 2050; China alone has the potential to add 53bn m2 of building space, which is equivalent to the building stock of Latin America today.

To date, IFC has invested more than $570m in resource-efficient buildings, including directly and through financial intermediaries. IFC has also worked with the governments of Colombia, Indonesia, the Philippines, and Vietnam to help develop their regulatory environments.

“By leveraging the capabilities of the World Green Building Council and IFC, together we can provide accessibility to the entire green building industry while addressing the core needs of developing countries,” said Prashant Kapoor, principal industry specialist, Green Buildings, IFC. “It is a window of opportunity to democratize the green buildings market.”

WorldGBC CEO Jane Henley said: "The business case for green buildings continues to drive change throughout the world.

“The WorldGBC and IFC are organizations dedicated to transforming the marketplace so that all buildings are more sustainable and efficient. Together, as leaders in this movement, we have an opportunity to directly affect sustainability on a global scale.”

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Construction Week - Issue 761
Mar 21, 2020