Homes & Property

February 18, 2020

Eko Atlantic secures first IFC EDGE certification

Eko Atlantic secures first IFC EDGE certification

By Chris Ochayi

As the roles of resource efficiency and sustainability become more apparent in preserving our planet, Eko Atlantic City has secured its first ever EDGE certification from the International Finance Corporation (IFC), a member of the World Bank Group.

The certification was awarded to Alpha1 Towers, Eko Atlantic City’s pioneer office building completed in 2016, following its fulfilment of IFC’s criteria to reach the minimum standard of using 20% less resource intensity in energy, water, and embodied energy in materials.

EDGE certification has become a worldwide trend with nearly 9 million square meters of floor space certified to date. The estimated energy savings are over 360,000 MWh per year, with over 9.5 million m3 of water per year and over 206,000 tCO2 of carbon dioxide per year, among other benefits.

Ronald Chagoury, Jr, Vice Chairman, South Energyx Nigeria Ltd, who are the city planners and developers of Eko Atlantic, said, “At Eko Atlantic, we are determined to build a green city, one that is future-ready.

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“By encouraging developers to construct resource-efficient buildings such as Alpha1 has done, we have a unique opportunity to create an eco-friendly city that will have a high percentage of green buildings that have been certified to standards such as EDGE.

This means that Lagos State will raise the bar and usher in a new era in the development of green cities.”

“The market potential for green buildings in emerging markets is estimated at $24.7 trillion by 2030, according to IFC’s recent report, Green Building: A Finance and Policy Blueprint for Emerging Markets”, said Marcene Mitchell, IFC’s Global Head for Climate Strategy and Business Development, who leads the EDGE program.

“Eko Atlantic’s encouragement of EDGE certification for its properties validates the opportunity for green buildings in Nigeria and demonstrates their understanding of the importance of pursuing a more low-carbon path.”

By receiving the EDGE certification, Alpha1 joins a line-up that includes Cornerstone Towers (Lagos, Nigeria), Atlantic Tower (Accra, Ghana), and Citra Towers (Jakarta, Indonesia), among many others. So far, in Nigeria, 370 homes have been EDGE certified with over 2,010 tCO2 of carbon dioxide to be eliminated per year.

Vanguard News Nigeria.