Green construction offers business case to cure housing & climate crisis

Africa is on the brink of an unprecedented building boom, with 70 per cent of the world's population projected to reside in urban cities by 2050. This rapid urbanization presents both a challenge and an opportunity for urban centers to embrace green construction practices. In a recent interview with IFC Country Manager, Amena Arif, the potential of green buildings in driving economic growth and sustainability was extensively discussed. The key theme centered around the importance of transitioning towards sustainable building practices to ensure liveable, efficient, and environmentally friendly urban spaces. As urbanization accelerates, the demand for housing and commercial infrastructure is soaring. Green construction offers a business case to address both the housing crisis and mitigate the impact of climate change. IFC's vision is to promote green buildings as a catalyst for economic development and job creation. By leveraging efficient energy use, reducing waste, and employing low-carbon materials, such as steel, cement, and glass, green buildings can revolutionize the real estate industry. While the benefits of green constructions are evident in terms of lower utility bills, enhanced property values, and improved living standards, the adoption of such technologies poses challenges. Given the diverse stakeholders involved in the construction value chain, including developers, regulators, and financiers, it is imperative to foster collaboration and implement policies that incentivize green building practices. One notable success story highlighted during the interview was the partnership between IFC and Homa Bay County in Kenya, which unveiled the first public affordable housing project certified as green. This initiative exemplifies the transformative impact of adopting green building standards at the regional level. Furthermore, Kenya's proactive stance on climate action, as evidenced by the enforcement of green certification for affordable housing projects, underscores the country's commitment to sustainable urban development. The EDGE certification program, developed by IFC, offers a user-friendly platform for assessing the environmental impact of building designs. By incorporating energy efficiency and cost-effectiveness metrics, EDGE facilitates the certification process and encourages developers to embrace green technologies. This tool has been instrumental in driving the green building movement across different jurisdictions, serving as a benchmark for sustainable construction practices. The economic and environmental implications of not embracing green construction practices are substantial. From a financial perspective, developers stand to benefit from reduced operational costs, increased market competitiveness, and higher property valuation. Occupants of green buildings enjoy lower utility expenses, enhanced living conditions, and a reduced ecological footprint. Governments also reap rewards by investing less in energy infrastructure and providing fewer subsidies for low-income households. Ultimately, the adoption of green technologies in the building sector offers a multi-faceted approach to promoting economic prosperity, environmental sustainability, and social equity. In conclusion, the case for green construction as a strategic solution to the housing and climate crisis is compelling. By prioritizing sustainable building practices and leveraging innovative technologies, African countries can pave the way for a greener, more prosperous future. As urbanization continues to reshape the landscape of cities across the continent, the integration of green buildings stands out as a pivotal strategy to foster inclusive growth, environmental stewardship, and resilience in the face of global challenges.