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IFC Helps the Philippines Build Sustainable and Cost-efficient Buildings

Manila, Philippines, July 25, 2013 —IFC, a member of the World Bank Group, and the Philippines Department of Public Works and Highways met this week to discuss measures to build and operate more sustainable and cost-efficient buildings, which when implemented are expected to cut the buildings’ annual power consumption by up to 20 percent and carbon emission by as much as 25 percent.
The partnership between IFC and the department is supported by Switzerland’s State Secretariat for Economic Affairs and the Government of Canada.
The meeting came two months after IFC signed a cooperation agreement with the department to advise it on developing sustainable building regulations for the National Building Code. Buildings emitted 33.28 million metric tons of carbon dioxide, accounting for 36 percent of the Philippines’ total power consumption in 2010. Rapid urban migration is expected to further increase the number of new buildings by 20 percent a year and it has therefore become increasingly important to reduce the power usage of buildings.
IFC Resident Representative Jesse Ang said, “There is huge potential for improving the cost efficiency of buildings in the Philippines. Businesses are willing to pay more for sustainable buildings because in the long run, they will have lower electricity bills and be more competitive while contributing to cleaner air and a greener environment.”
“IFC supports the Philippines in its move to build green and smart structures and adopt practices that use energy and other resources efficiently,” said Hans Shrader, IFC’s senior operations officer. “This will reduce the impact of our buildings on the environment and promote healthy living conditions.”
The meeting is part of a series of sustainable building discussions with the government, private sector, academia and civil society, including organizations of architects, engineers, interior designers, and other professionals groups. The sustainable building regulations will focus on hospitals, hotels, residential condominiums, offices, schools, and other structures.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org .
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