Printable Version

OPIC and IFC Sign Memorandum of Understanding to Promote Resource Efficiency in Building Projects in Emerging Markets

Friday, 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.”