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The Hague, June 3, 2015
-- IFC, a member of the World Bank Group, signed a partnership Memorandum of Understanding with FMO, the development finance institution of the Netherlands, 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 FMO will use the EDGE software to measure the resource efficiency of the building projects it finances. IFC will conduct training to support FMO’s investment staff to help create awareness of EDGE through their clients and networks.
“The EDGE software has introduced an entirely new way of engaging with our clients in the building sector,” said Ammarens Bruggenkamp, an investment officer at FMO. “This platform will certainly enable us to expand our business.”
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 FMO
FMO is the Dutch development bank. FMO has invested in the private sector in developing countries and emerging markets for more than 45 years. Our mission is to empower entrepreneurs to build a better world. We invest in sectors where we believe our contribution can have the highest long-term impact: financial institutions, energy and agribusiness. Alongside partners, we invest in the infrastructure, manufacturing and services sectors. With an investment portfolio of EUR 8 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally.
www.fmo.nl
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