The International Finance Corporation (IFC) has teamed up with the Philippines Government to expand the development of green buildings in the country.
IFC said that it was conducting technical studies that will be used to draft laws requiring new buildings to reduce electricity use. According to IFC, these measures will help Philippines to reduce the greenhouse-gas emissions of new buildings by 20% annually.
IFC is also supporting the Philippine Department of Public Works and Highways in updating the National Building Code which will set minimum green feature requirements for new buildings, save energy and water resources, and support cost-efficient operations.
Mandaluyong City in Metro Manila has passed a green building ordinance with the support of IFC. The green building ordinance provides incentives such as tax discounts on machineries and building improvements.
IFC resident representative Jesse Ang said it offers its global technical expertise to help the Philippines Government units develop their green building initiatives.
"We support the government in implementing its National Climate Change Action Plan, which provides for ‘greening’ the National Building Code," Ang added.
Working with governments and regulators to build capacity for green buildings through policy and regulatory support, the IFC green building program is supported by the Swiss State Secretariat for Economic Affairs and the Government of Canada.
The IFC green building program also provides financing to support private sector investments in green buildings.