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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