IFC has awarded EDGE (“Excellence in Design for Greater Efficiencies”) green building certification to apartment buildings to be constructed by Value and Budget Housing Corp. Ltd. (VBHC) of India, the first such for India.
This issue of Handshake, an IFC magazine on public-private partnerships, looks at challenges in municipal solid waste for low-income and middle-income countries. Improperly managed waste contributes to climate change in the form of GHG emissions.
This issue of Handshake, an IFC magazine on public-private partnerships, focuses on increasing access to energy in developing countries. It includes features on hydropower and renewables with examples from Africa and Latin America.
Climate change is not just an environmental challenge – it is a fundamental threat to development in our lifetime. The World Bank Group has made confronting climate change a top priority in our push to eradicate extreme poverty and boost shared prosperity. At IFC, the World Bank Group’s private sector arm, we are stepping up our investments in climate change mitigation and adaptation and helping our clients understand and manage the risks and opportunities climate change presents.
Since 2005, we have invested more than $11 billion in 600 climate-related projects that have helped developing countries meet their energy needs while supporting a green growth path. IFC made its first investment in renewable energy in 1989 and is now one of the world’s largest financiers of wind and solar power for emerging markets.
In fiscal 2013, IFC invested a record $2.5 billion in climate-related projects, up 50 percent from the year before. This funding supported new solar power technology for South Africa, energy efficiency gains in Cote d’Ivoire, water conservation in Turkey and green buildings in India, plus innovative financing for renewable and clean power through commercial banks. IFC is also working to leverage new sources of funding for green growth through its green bonds program that raised $2 billion in 2013 alone, as well as through the Catalyst Fund and its co-investments with governments through its blended finance work.