The partnership aims to decarbonise the built environment through the design and construction of resource efficient buildings using excellence in design for greater efficiencies (EDGE).
IFC and CBIC will work together to disseminate knowledge, create capacities to design eco-efficient buildings and promote access to EDGE certification among the private real estate sector. This would extend to small and medium-sized enterprises (SMEs), developers, professionals and industry associations.
Under the partnership, the two institutions will promote the EDGE certification among CBIC members via virtual training for management and staff.
Developed by the IFC, EDGE certification offers a free software to identify cost-efficient measures to design a green building with a lower environmental impact and cheaper operational costs.
“EDGE certification is growing rapidly in large part because of the bridge it offers between developers and financial institutions keen to invest in green assets. Working together, CBIC and IFC hope to accelerate the decarbonisation of the building sector in Brazil,” stated Hania Dawood, IFC’s manager for climate strategy and business development.
To obtain an EDGE certificate, a construction project should achieve at least 20% of savings in energy, water and embodied energy in building materials when compared to a conventional building.
IFC will also work with selected CBIC members to help them plan a pathway to zero carbon emissions and evaluate the opportunities and challenges of the green building market penetration in Brazil.
Carlos Leiria Pinto, IFC’s country manager in Brazil, commented on the partnership in a statement, “Encouraging green building projects in the construction industry is key to lay the foundation for a green economic recovery. Together with CBIC, we are demonstrating that it is possible to reduce the socio-environmental impacts of the sector, help mitigate the climate pressure of urbanisation and open up new green economic opportunities in the country.”
This news comes in as the IFC has identified the market potential for green buildings to be an estimated $24.7 trillion by 2030 across emerging market cities.
In June 2021, IFC announced its first partnership in Brazil to stimulate the green building market, with Itaú BBA. The initiative involves technical training for the bank’s property developer clients and advisory services to identify opportunities in the green building market with the EDGE certification.