The World Bank Group through International Finance Corp. committed to support the Philippine construction sector under the Building Resilience Index.
BRI, which involves hazard mapping, self-assessment of resilience measures and voluntary disclosure at the building level, will be launched globally. The Philippines, which ranks as the fourth most vulnerable country to climate change, is the first pilot country. The program will then be expanded to the Caribbean Islands, followed by the Pacific Islands.
BRI follows the success of IFC’s EDGE tool, which has now certified projects in more than 53 countries. BRI will be launched in the Philippines in three phases, starting with phase 1 by the end of 2021, followed by phase 2 and phase 3 by the end of 2022.
BRI is funded by the Australian government and the government of the Netherlands
“While the Philippines is deeply affected by the pandemic, there is an opportunity for a green, resilient and inclusive recovery,” said Jean-Marc Arbogast, IFC country manager for the Philippines.
“Climate change and the pandemic are acute threats to global development and could undo decades of great work that has led to many people coming out of poverty,” said Vivek Pathak, global head and director of climate business at IFC.