Dubai, December 6, 2023 — The International Finance Corporation (IFC) and the world's largest architectural design firm, Gensler, have agreed to jointly expand their work on low-carbon building certification and access to green finance.
Gensler will promote IFC's EDGE ("Excellence in Design for Greater Efficiencies") Green Building certification program and train design leaders in Gensler offices around the world to champion best practices in applying EDGE standards to projects in the world's fastest growing regions and help clients and building developers certify their green credentials.
EDGE helps property developers to design and build low-carbon and green in a fast, easy and affordable way. IFC created EDGE to respond to the need for a measurable and credible solution to prove the business case for building green and to unlock transition finance for the built environment.
"We are thrilled to be working with IFC's EDGE team to promote green practices in building design and architecture through our projects around the world. IFC is committed to mobilizing financing for green projects, particularly in emerging markets where the need for resource-efficient and affordable housing is so critical," said Diane Hoskins, co-CEO of Gensler.
EDGE is already adopted in markets and banks around the globe, with over 65 million square meters certified representing approximately $65 billion in asset value. IFC has invested more than $12.2 billion in green buildings since launching EDGE in 2015 and has driven market-level success in a number of emerging markets where Green Building certification has grown exponentially.
"With around 40% of annual global greenhouse gas emissions originating from the built environment, addressing decarbonization of the full construction value chain is one of IFC's primary climate priorities," said Jamie Fergusson, Director of Climate Business for IFC. "We are excited to be partnering with one of the world's most influential architecture firms to leverage their expertise in emerging markets to promote awareness of the need for green finance."
The new collaboration represents an opportunity to share private sector knowledge at the global level to influence continued market growth for low-carbon and resilient buildings worldwide.
As representatives from the public and private sector convened in Dubai this week for the 28th United Nations Climate Change Conference (COP28), the critical need to address green finance and decarbonization of the built environment is a major focus area.
About IFC
IFC — a member of the World Bank— is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org
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About EDGE
An innovation of IFC, EDGE helps property developers to build and brand green in a fast, easy and affordable way. EDGE is supported by free software that offers up solutions to reduce energy, water, and the energy embodied in building materials by at least 20 percent. EDGE certification is recognized by the major green finance standards and streamlines green debt reporting requirements. The simplicity and low cost of EDGE, plus its focus on quantifying emission reductions makes it invaluable to map and track a path to zero carbon. The program has been generously supported by the following donors: Austria, Canada, Denmark, ESMAP, EU, Finland, GEF, Hungary, Japan, the Netherlands and Switzerland. For more information, visit www.edgebuildings.com
About Gensler
Gensler is an employee-owned, global architecture, design, and planning firm with 53 locations and 6,000+ professionals networked across the Americas, Europe, Greater China, Asia Pacific, and the Middle East. Founded in 1965, the firm works globally with more than 3,500 clients across 33 practice areas spanning the work, lifestyle, cities, and health sectors. We are guided by our mission to create a better world through the power of design, and the source of our strength is our people. By leveraging our diversity of ideas, our research and innovation, our shared values, and our One-Firm Firm culture, we are working seamlessly as a borderless firm in more than 100 countries and making the greatest impact on our communities as we continue to tackle the world's challenges.
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