New Delhi—IFC, a member of
the World Bank Group, and the Confederation of Real Estate Developers'
Associations of India (CREDAI), apex body of private real estate developers,
have partnered to promote green buildings in the country through IFC’s EDGE
certification.
EDGE stands for ‘Excellence in Design for Greater Efficiencies’, and is a standard that focuses on energy and water efficiency in buildings. Fast, easy to use, and affordable, EDGE empowers builders and home-owners to choose environment-friendly technical solutions while capturing costs and projected savings. More information is available at www.ifc.org/edge.
CREDAI will encourage its members, including local chapters, to incorporate resource efficiency in their design using EDGE. To qualify for the certification, these efficiencies must result in savings of at least 20 percent in energy, water, and materials over the local standard practices. IFC will train members and share global best practices and knowledge with CREDAI on green building technologies.
EDGE stands for ‘Excellence in Design for Greater Efficiencies’, and is a standard that focuses on energy and water efficiency in buildings. Fast, easy to use, and affordable, EDGE empowers builders and home-owners to choose environment-friendly technical solutions while capturing costs and projected savings. More information is available at www.ifc.org/edge.
CREDAI will encourage its members, including local chapters, to incorporate resource efficiency in their design using EDGE. To qualify for the certification, these efficiencies must result in savings of at least 20 percent in energy, water, and materials over the local standard practices. IFC will train members and share global best practices and knowledge with CREDAI on green building technologies.
“This partnership has the
potential to transform the housing market and put India in a leading position
to apply a green rating system for homes on a large scale,” said Geetamber
Anand, President (Elect), CREDAI, at its “Clean India – Skilled India – Strong
India” Conclave. “Only two percent of the buildings are currently
resource-efficient, pointing to the huge opportunity.”
By 2050, India will be
home to 1.6 billion people and most of this growth will come from cities, where
the residential needs will double. This rapid expansion in construction would
require buildings that are less resource-intensive yet meets the aspirations of
today’s growing middle class.
“Green buildings are a
compelling need and IFC will be working in this fast growing Indian market,”
said Serge Devieux, IFC’s Regional Director for South Asia. “We aim to help
builders introduce cost-effective green features into their designs and work
with financial institutions and the government, to support their widespread
adoption.”
IFC has invested $600 million in green buildings globally in the last five years. In addition, IFC has ongoing advisory programs in more than 10 countries. In India, IFC’s clients -- VBHC, an affordable housing developer, and SAMHI, a budget business hotel developer -- have benefited from the use of EDGE.
IFC has invested $600 million in green buildings globally in the last five years. In addition, IFC has ongoing advisory programs in more than 10 countries. In India, IFC’s clients -- VBHC, an affordable housing developer, and SAMHI, a budget business hotel developer -- have benefited from the use of EDGE.
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