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NMRC commits to greening Nigeria’s building construction industry

Nigerian building developers have come together to discuss the pathway for a greener Nigeria through the construction industry. Financial institution and mortgage re-finance provider NMRC has pledged to be a leader in pioneering the implementation of EDGE certification in the construction industry. NMRC and the International Finance Corporation (IFC), a member of the World Bank Group, along with the consortium of thinkstep-SGS, the certification provider for EDGE in Nigeria, held two workshops in Lagos and Abuja this week about EDGE adoption and implementation. The workshops were also attended by local government officials and financial institutions.

An innovation of IFC, EDGE (Excellence in Design for Greater Efficiencies) was created to respond to the need for a measurable solution to prove the financial case for building green and to help jumpstart the proliferation of green buildings. EDGE includes complementary software to empower building professionals to quickly and easily determine the most cost-effective ways to build green based on occupant behavior, building type and the local climate.

NMRC and IFC share a common aspiration to move the building construction industry on to a lower carbon, more resource-efficient path. Through the partnership, the entities will work together to promote sustainable design practices in Nigeria. This will include NMRC recommending EDGE certification to clients to increase the value of their green properties.

According to Dr. Chii Akporji, NMRC’s Executive Director for Policy, Partnerships and Business Development, “NMRC is proud to partner with IFC to launch and operationalize EDGE in the Nigerian market. Through its value chain approach to addressing the challenges and opportunities in the Nigerian housing sector, NMRC looks to collaborating with its member banks and other stakeholders to catalyze sustainable green buildings in Nigeria, to unlock the benefits of same to the housing industry and to the country’s GDP.”

IFC aims to transform 20 percent of the construction market in rapidly industrializing countries with the support of industry leaders, governments and financial institutions. Resource-efficient buildings provide a tangible value that can be passed from property developers to their customers through utility savings. Green buildings also have less negative impact on the environment and reinforce a more sustainable corporate brand. They also enable home buyers to make a difference through choosing green homes for their families, which have the potential for higher resale values.

“Going green and affordability are not mutually exclusive – both are possible. We know from our global experience that we do not have to give up one to achieve the other. What we need is a way to put buildings on a greener path with solutions that are sensible in the Nigerian context. EDGE can help accomplish that.” remarked Eme Essien Lore, IFC Country Manager, Nigeria.

IFC has a green building investment portfolio of more than $3 billion, which includes its own direct investments and mobilized financing. Complementing its investment work, IFC advises governments on green building regulations in Bangladesh, Colombia, Costa Rica, Indonesia, Panama, Peru, the Philippines and Vietnam

Credit: Nigeria Mortgage Refinance Company

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