Manila, November 27, 2017— IFC, a member
of the World Bank Group, called on the building and property sector to
unlock more investments for green buildings to mitigate climate impact
in the Philippines. While IFC sees a $3.4 trillion green buildings investment
opportunity in key emerging markets by 2025, in the Philippines, investment
opportunities for low-carbon buildings are likely to be around $2 billion
In 2010, buildings accounted for 36 percent of the Philippines’ total
annual power consumption, and emitted 33.28 million metric tons of carbon
dioxide. Seven years down the line, rapid urban migration is further estimated
to increase the number of new buildings by 20 percent a year. Given the
scenario, the future is in green buildings, which incorporate sustainable
measures in design and construction of buildings, promoting efficient use
of energy, water, and other resources with low carbon footprint.
Yuan Xu, IFC’s Country Manager for the Philippines said: “With its fast
population growth and urbanization, the Philippines urgently need a more
sustainable building solution to address the country’s growing infrastructure
needs and climate change challenges. The way to deliver on this is to create
a vibrant market for green buildings that attract private sector investment.
Green buildings should be the new normal for property companies, developers,
Green buildings can achieve as high as 20 to 25 percent of the Philippines
market by 2025, with a combination of policy support, tax benefits, educational
and awareness programs, and realized savings from energy efficiency.
This year, IFC hosted Green Breakthroughs, an annual knowledge-sharing
event that showcases innovations and developments in sustainable and low-carbon
buildings and structures. Held in cooperation with the Department of Public
Works and Highways, Philippine Green Building Initiative and Switzerland’s
State Secretariat for Economic Affairs, the forum discussed opportunities
for climate financing at a session led by policy makers and leaders of
financial institutions. They shared their programs to scale up financing
for projects that promote energy efficiency, including green buildings.
Key government and private sector stakeholders such as the local government
of Mandaluyong City, Department of Public Works and Highways, and Philippine
Green Building Initiative presented a report on the important initiatives
and progress of the local green building sector.
IFC, through its Green Building Market Transformation Program, has collaborated
with the government, businesses and professional organizations to create
a market for green buildings by improving the policy environment and setting
up voluntary standards. Working with Mandaluyong City, IFC piloted the
development of mandatory green building codes that led to the city’s adoption
of a green building ordinance.
IFC provided technical advice to the Department of Public Works and Highways
in crafting the Philippine Green Building Code. The code is fully implemented
across the country and prescribes measures for energy and water efficiency,
material sustainability, solid waste management, site sustainability and
indoor environmental quality. Subsequently, in 2016, IFC launched its Excellence
in Design for Greater Efficiencies or EDGE voluntary certification system
in the Philippines, with PGBI as its certification provider. EDGE helps
to determine the most cost-effective options for designing green within
a local climate context.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise,
and influence to create markets and opportunities in the toughest areas
of the world. In FY17, we delivered a record $19.3 billion in long-term
financing for developing countries, leveraging the power of the private
sector to help end poverty and boost shared prosperity. For more information,
An innovation of IFC, EDGE helps property developers 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 is generously supported by Switzerland’s
State Secretariat for Economic Affairs. For more information, visit www.edgebuildings.com.