Residential Development is First Real Estate Project in Indonesia to be Awarded Zero Carbon Certification Under Leading Green Building Program

​

Jakarta, March 21, 2023 – A residential development has become the first real estate project in Indonesia to be accredited with a zero-carbon certification under one of the world's leading green building programs.

Asia Green Real Estate, along with IFC, a member of the World Bank Group, today announced the Ecoloft serviced apartments in Cikarang in the Bekasi regency east of the Indonesian capital Jakarta had been awarded EDGE Zero Carbon Certification. EDGE, or Excellence in Design for Greater Efficiencies, is a green building certification system developed by IFC.

"We are proud to have certified the Ecoloft residential complex as the first zero carbon building in Indonesia. The zero carbon standard has been reached through variety of environmentally friendly solutions including photovoltaic panels or rainwater infiltration," said Alex Buechi, a partner with Asia Green Real Estate. "We are confident that this achievement will amplify innovation in sustainable construction solutions and has a chance of being echoed in shaping the future of green buildings in Indonesia." 

The development, located on a golf course, includes 19 units of typical serviced townhouses. It was designed from the outset to be green with the innovative and resource-efficient methods used during construction, operation and maintenance.

A reduced window-to-wall ratio and external shading devices, along with solar hot water collectors, insulation for the roof and external walls, an energy efficient air conditioning system, energy-saving lighting, and solar photovoltaics that cover 50 percent of its electricity consumption, is estimated to have delivered energy savings of 82 percent. The use of renewable energy as well as the purchase of carbon offsets from the United Nations Framework Convention on Climate Change (UNFCCC) has enabled the development to reduce its carbon footprint to zero, cutting emissions by as much as of 95 tons per year, which is equivalent to planting around 1,500 trees. 

"Building materials account for half of the solid waste generated every year worldwide. By 2025, that amount is expected to reach 2.2 billion tons per year globally, which means the greening of new and existing buildings is key to a low-carbon future," said Randall Riopelle, IFC Acting Country Manager for Indonesia and Timor-Leste. "IFC is proud to be contributing to a growing bank of green space globally through our work with governments and strong local partners, and this project shows that there are practical solutions that can reduce a building's carbon footprint that are within reach of just about everyone." 

Like many emerging markets, Indonesia faces a stark balancing act between improving prosperity for its people and responding to climate change. Indonesia is also home to some of fastest-growing cities in Asia, with Jakarta on track to have a population that surpasses that of Tokyo's by 2030, making it the world's biggest city. At the same time, rapid urbanization and growth likes this presents major environmental challenges, further underscoring the need for ambitious climate action.

The zero-carbon certification for the Ecoloft apartments adds to the more than two million square meters of sustainable floor space already developed by EDGE. Supported by the UK government, to date, EDGE has certified more than 2.3 million square meters of building space in Indonesia, cutting carbon emissions by as much as of 67,000 tons per year, which is equivalent to planting around 1,100,000 trees. 

About IFC
IFC — a member of the World Bank Group — 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 2022, IFC committed a record $32.8 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. 

About EDGE
An innovation of IFC, a member of the World Bank Group, EDGE is a green building standard and a certification system that empowers building professionals to quickly and easily determine the most cost-effective ways to build green based on building type and the local climate. Available worldwide, EDGE was created in response to the need for a measurable solution to prove the financial case for building green.  

Stay Connected
www.ifc.org/eastasia
www.twitter.com/IFC_EAP
www.youtube.com/IFCvideocasts
www.ifc.org/SocialMediaIndex
www.instagram.com\ifc_org
www.facebook.com/IFCeap
www.facebook.com/IFCwbg

About AGRE

Asia Green Real Estate is a fully regulated asset manager specialized in sustainable residential and office investments in Asia. The company maintains offices in Singapore, Jakarta, Shanghai, Chengdu, Guiyang, Hong Kong, and Zurich. With our presence in both Asia and Europe, the team optimally combines local execution skills with an international perspective, strong investment discipline and high governance standards. Our strong local presence and long-standing local partner network allow a hands-on approach and direct access to first-class investment opportunities in fast-growing metropolises in Asia.