OPIC and IFC Sign Memorandum of Understanding to Promote Resource Efficiency in Building Projects in Emerging Markets
August 31, 2018
(OPIC)
WASHINGTON, D.C. – The Overseas Private Investment Corporation (OPIC) and the
International Finance Corporation (IFC) on Thursday signed a memorandum of
understanding to collaborate on the promotion of resource efficiency in building
construction projects.
Under the agreement, OPIC, the U.S. Government’s development finance
institution, will encourage their private sector clients to adopt IFC’s EDGE green building
certification. IFC will support OPIC through training offered to its clients on
the EDGE platform, which includes a software application for assessing the
resource efficiency of building projects in more than 140 countries.
An innovation of IFC, EDGE (“Excellence in Design for Greater Efficiencies”)
proves the business case for building and branding green, demonstrating that
environmental responsibility correlates with smart business. Fast, easy and
affordable, EDGE empowers builders to choose technical solutions that reduce the
environmental impacts of their projects while capturing costs and projected
savings.
According to a United Nations report, the portion of the world’s population
living in urban areas is projected to increase from 55 percent today to 68
percent by 2050, creating demand for new infrastructure and requiring resource
efficiency in development. Projects become EDGE certified by meeting a standard
of 20 percent less energy, water and embodied energy in materials.
“This agreement will help OPIC advance its longstanding commitment to lasting
development,” said Ryan Brennan, Vice President, OPIC Office of Investment
Policy. “As many emerging markets see rapid growth in their urban populations,
OPIC is committed to helping them meet their needs in a manner that uses
resources responsibly. IFC’s EDGE will be a valuable resource for OPIC’s
private sector partners.”
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