IFC’s EDGE Buildings and Gensler Join Forces to Support Buildings Decarbonization, Sustainable Finance at COP28

DUBAI, UAE — 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.

With this mission in mind, the International Finance Corporation (IFC) and architectural design firm Gensler were delighted to announce a new collaboration to jointly expand low-carbon building certification and access to Green Finance.

The largest architecture and building design firm worldwide, Gensler has committed to promoting IFC’s EDGE (“Excellence in Design for Greater Efficiencies”) Green Building certification program and to training 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.

With its focus on the needs of the private sector, EDGE is a solution by IFC that 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.