Property developer Ayala Land Inc. (ALI) said Tuesday it signed an agreement with International Finance Corp. (IFC) that will enable it to achieve EDGE Zero Carbon certification across a portfolio of 1.5 million square (sq. m.) meters by 2025.
ALI said in a statement the ambitious undertaking aims to establish the Philippines’ largest EDGE Zero Carbon portfolio, comprising 900,000 sq. m. by 2024 and an additional 600,000 sq. m. by 2025.
“For Ayala Land and AREIT, this highest level of EDGE is what we are aiming to secure in line with our goal to become the largest EDGE champion in the Philippines,” AREIT president and chief executive officer and Ayala Land Offices head Carol Mills said.
“We believe achieving zero carbon in our buildings will yield not only for ourselves but also for our valued office locators the most substantial, relevant and much needed contribution towards long-term sustainability and environmental responsibility,” Mills said.
An innovation of IFC, EDGE is a green building certification that has gained traction among property owners and developers aiming to reduce the operational costs and greenhouse gas emissions of their building portfolios without incurring significant additional costs.
A building should demonstrate a 40-percent improvement in energy efficiency compared to the base case and incorporate renewable energy sources, carbon offsets or a combination of both, for its total energy demand to reach EDGE Zero Carbon.
ALI said the certification of the properties within the leasing portfolio signifies the group’s commitment to optimizing energy and water utilization while significantly reducing embodied carbon within construction materials.
It said that 1.3 million sq. m. of ALI and AREIT’s portfolio already operate on 100-percent renewable energy sources.
Incoming ALI president and chief executive Anna Ma. Margarita Bautista Dy said the property firm is prepared to go above and beyond the EDGE Zero Carbon framework.
“We will continue to explore partnerships with suppliers of sustainable materials with less carbon footprint and further offset our embodied carbon through our carbon forests. We are also taking initiative to divert generated waste away from landfills. We make sure that a significant volume of our generated waste is being sent to recyclers, ecohubs and composts,” Dy said.