Focus on green buildings – IFC urges stakeholders

The International Financial Corporation (IFC) has called on stakeholders to prioritise green building.

Kyle Kelhofer, IFC Senior Country Manager Ghana, Liberia and Sierra Leone, emphasised the importance of green buildings during the presentation of IFC’s EDGE Green Building Certificate to LMI Holdings in Accra on April 29,

The EDGE (Excellence in Design for Greater Efficiencies) Green Building Certificate is a certification system developed by the IFC aimed at reducing the environmental footprint of the building sector, especially in emerging economies.

Mr Kelhofer pointed out that the benefits of green buildings, which include enhanced efficiency leading to higher revenues and reduced operating costs, are becoming increasingly evident.

“Contributing to a healthier environment by reducing carbon emissions, energy and water usage leading to long-term financial savings; Providing better collateral by increasing resale values, ensuring greater asset value for investors and green buildings can spur low-carbon economic growth and generate much-needed skilled and green jobs,” he added.

Mr Kelhofer noted that despite the clear business case for green buildings, current investments are minimal due to market barriers such as insufficient government incentives, limited green construction capacity, and high perceived costs.

The IFC Senior Country Manager underscored that the IFC contributes to this effort by investing in green buildings and advising financial institutions on developing green financial products like bonds, mortgages, and loans to foster environmentally responsible development.