Decarbonizing Real Estate for Impact and Value Enhancement (DRIVE)

IFC's DRIVE program helps real estate companies reduce the carbon footprint of their asset portfolios and develop a decarbonization roadmap for Scope 1, 2 and 3 emissions reduction. It guides IFC’s clients through a structured process: from measuring emissions and assessing readiness, to developing a concrete roadmap and accessing financing to implement decarbonization strategies and solutions over time. 

The Challenge

The real estate sector is responsible for nearly 40% of energy and industrial-related CO2 emissions globally, with two-thirds attributed to emerging markets. As cities grow and a new generation of young people enter the workforce, the buildings being constructed and managed today will shape economic opportunity, job creation, and climate outcomes for decades to come. Many companies and investors recognize the importance of decarbonizing their real estate portfolios but lack the tools, data, and strategic frameworks to act.

The Solution

IFC DRIVE is designed for real estate companies that own and manage portfolios of assets from different sectors including industrial, office, retail, mixed-use, housing, educational, and hospitality. It is relevant to both developers and institutional investors seeking to align their portfolios with long-term sustainability standards and targets. 

Through a structured and collaborative approach utilizing proprietary tools, IFC DRIVE program helps organizations develop decarbonization strategies for their real estate portfolios. The benefits for companies include: 

• Lower operating costs
• Improved investor and tenant relations 
• Stronger regulatory preparedness
• Increased long-term asset value
• Better access to capital