Investments in Philippine Green Building ProgramNovember 27th 2017
THE International Finance Corporation (IFC) called on the building and property sector to unlock more investments for green buildings to mitigate climate impact in the Philippines.
While IFC sees a $3.4 trillion green buildings investment opportunity in key emerging markets by 2025, in the Philippines, investment opportunities for low-carbon buildings are likely to be around $2 billion by 2020. In 2010, buildings accounted for 36% of the Philippines’ total annual power consumption and emitted 33.28 million metric tons of carbon dioxide.
Seven years down the line, rapid urban migration is further estimated to increase the number of new buildings by 20% annually. Given the scenario, the future is in green buildings, which incorporate sustainable measures in design and construction of buildings, promoting efficient use of energy, water, and other resources with low carbon footprint.
Green buildings can achieve as high as 20 to 25% of the Philippines market by 2025, with a combination of policy support, tax benefits, educational and awareness programs, and realised savings from energy efficiency.
Picture of Quezon City with Welcome Rotonda in the foreground by Patrickroque01 – Own work, CC BY-SA 3.0.
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