Paris, France, June 4, 2015
-- IFC, a member of the World Bank Group, signed a partnership Memorandum of Understanding today with Proparco, the development finance institution of France, to encourage emerging markets to mainstream resource-efficient building construction with the EDGE (Excellence in Design for Greater Efficiencies) certification system.
An innovation of IFC, EDGE shows property developers how fast and affordable it is to construct resource-efficient buildings, enabling them to pass value directly to building owners and tenants. The complimentary EDGE software can be used to determine the viability of a project at the design stage, leading to a set of solutions that reduce energy, water, and the energy used to make building materials by at least 20 percent.
"The ambition of EDGE is to create momentum for resource-efficient building growth by proving that everyone wins financially by building green," said Christian Grossmann, Director of IFC’s Climate Business Department. "IFC is eager to partner with other financial institutions, as together we can empower sustainable building at an unprecedented level."
As part of the new partnership, Proparco will use the EDGE software to measure the resource efficiency of the building projects it finances. IFC will conduct training to support the partner institutions’ investment staff to help create awareness of EDGE through their clients and networks.
Alexis Janoray, Senior Investment Officer at Proparco added, "We’ve used the EDGE software with our clients who are designing hotel and hospital projects in Africa and have found it to be highly convincing. It’s hard to deny the marketability of a better designed building when EDGE spells out the financial advantages so clearly."
IFC has a current investment portfolio of $800 million in green buildings, complementing its investment work with advice to governments on building regulations in such countries as Colombia, Indonesia, and the Philippines. By working in partnership with financial institutions and other stakeholders, IFC aims to penetrate 20 percent of the construction market in 22 countries within a seven-year timeframe. On the residential side alone, the projected result is 1.3 million resource-efficient homes, with annual power savings equivalent to 3,300 acres of solar farms and water savings of 38 million cubic meters.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit
www.ifc.org
About Proparco
Proparco is a Development Finance Institution jointly held by Agence Française de Développement (AFD) and public and private shareholders from the North and South. Its mission is to catalyze private investment in emerging and developing countries with the aim of supporting growth, sustainable development and the achievement of the Millennium Development Goals (MDGs). For more information, visit
www.proparco.fr
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