EDGE certification is awarded to buildings that demonstrate resource efficiency of at least 20 percent in energy, water, and embodied energy in materials. The resource-efficient design of the companies' projects saves 53,097 tons of carbon annually, which is equivalent to removing 11,471 cars off the road. Energy usage has also been reduced by 90,231MWh annually, which is the energy required to power 8,846 homes per year.
As EDGE Champions, the companies have committed to continuing to build green and to certify most of their portfolio with EDGE. An innovation of IFC, EDGE is an online platform, a green building standard, and a global certification system.
"We are very honored to have the support and commitment of these Latin American companies," said Corinne Figueredo, Global Manager for IFC's Green Building Program. "In fulfilling their roles as EDGE Champions, the companies have assumed a position of leadership in the region and have joined us in steering the real estate sector in Latin America onto a more low-carbon path."
EDGE Champions will help accelerate the adoption of green buildings by demonstrating their value. In addition to the environmental benefits, resource-efficient buildings also offer operational savings, higher commercial rates, and quicker sales cycles.
"We are building green because we not only want to offer a product that will provide operational savings [utilities] for our clients, but because we also believe that our success and example will inspire other companies to build green as well", said Sergio Leal, Executive President of Vinte, an EDGE Champion and the only homebuilder company to have been included in the Global Fortune Change the World list in 2019.
Latin America is the second most urbanized region in the world, with 81 percent of the population living in cities. The expansion of the construction sector in the region has responded to this urbanization with millions of new buildings constructed every year. IFC estimates that this urbanization presents a $4.1 trillion investment opportunity for green buildings in Latin America.
Bancolombia, Banco Pichincha, Constructora Bolivar, Inmobiliaria Vinte, Davivienda, LatAm Logistic Properties, Madrid Ingenieros, and Paladin Realty were recognized as EDGE Champions at a virtual event on February 25, 2021.
IFC – a sister organization of the World Bank and member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested more than $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
An innovation of IFC, EDGE helps property developers to build and brand green in a fast, easy and affordable way. EDGE is supported by free software that encourages solutions to reduce energy, water and the energy used to make building materials by at least 20 percent, which is the standard for EDGE certification. The program has been generously supported by the following donors: Austria, Canada, Denmark, ESMAP, EU, Finland, GEF, Hungary, Japan and Switzerland. For more information, visit www.edgebuildings.com.