The International Financial Corporation (IFC) has called on stakeholders to prioritise green building.
Green building, also known as a sustainable or eco-friendly building, is a structure and the application of environmentally responsible and resource-efficient processes throughout a building’s life-cycle, including planning, design, construction, operation, maintenance, renovation, and demolition.
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.
“Addressing these challenges requires actions from both public and private sectors, including regulatory frameworks, incentives, green finance instruments, and industry standards. Financial institutions can also contribute by creating financial products that promote sustainable construction,” he added.
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.
He also commended LMI Holdings for opting for EDGE certification.
“Your dedication has set the stage for a greener, more resilient warehousing in Ghana,” he added.
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