International Finance Corp., the investment arm of the World Bank, expects its green building program to generate savings of P38 billion and cut 1.9 million metric tons of greenhouse gas emissions annually by 2030.
IFC in a statement named the Philippine Green Building Initiative as its local partner in promoting green building through the use of EDGE, or Excellence in Design for Greater Efficiencies, IFC’s green building certification system for emerging markets.
“With PGBI as our partner in the Philippines, we hope to see more building designers and developers champion green building and transform the market into one that invites economic growth, minimizes resource consumption, reduces greenhouse gas emissions, and generates savings for building owners and residents,” IFC country manager Yuan Xu said.
EDGE promotes resource efficiency through building designs that reduce energy, including the one used in making construction materials, and water.
PGBI, meanwhile, is a non-profit group of professional associations that promotes energy-efficient and environment-friendly design and construction and will serve as the exclusive certification provider for EDGE projects in the Philippines.
PGBI president Amado de Jesus said the EDGE was a design and investment planning tool that the building industry could use to make sustainable designs in order to be more competitive in the market,
“PGBI is founded on a concern over the impact of global warming. We see EDGE as an immediate action that offers developers a leadership opportunity while helping to mitigate climate change,” De Jesus said.
The Philippines’ National Statistics Office said the average annual growth rate of commercial and residential buildings was over 500 percent.
Buildings consume 63 percent of the country’s energy supply, according to 2013 data from the Department of Energy. IFC’s green building program is expected to cut 1.9 million metric tons of greenhouse gas emissions in the Philippines and save P38 billion a year by 2030.
To qualify for EDGE design certification, companies must use the EDGE software to prove their building design will reduce resource consumption by at least 20 percent compared with a conventional building.
An innovation of IFC, EDGE helps property developers build and brand green in a fast, easy and affordable way.