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COP28#IFC-hosted buildings panel: The Critical Role of Finance for an Equitable Zero Carbon Built Environment Transition
| 10:00-10:45 Gulf Standard Time (GST)

World Bank Pavilion, Blue Zone & IFC COP28 Website

The International Finance Corporation (IFC), a member of the World Bank Group, is hosting a session focused on the built environment and its role in decarbonization efforts in emerging markets.

This session will explore the various strategies and partnerships necessary to achieve sustainable construction practices and create investment opportunities in these markets. The session will facilitate a discussion on the release of the recent report, "Building Green: Sustainable Construction in Emerging Markets", which highlights the importance of implementing green construction practices, materials, and technologies. The report identifies key measures such as energy-efficient building codes and standards, greening government buildings and procurement, and carbon pricing policies.

This is particularly significant in light of the decarbonization targets set through the France/Morocco-led Buildings Breakthrough initiative, which aims for near-zero-emission and resilient buildings to become the new norm by 2030. The panel will then delve into the specific roles of development banks and governments in decarbonizing the built environment in an equitable manner for emerging markets. IFC and the UK Government's Department for Energy Security and Net Zero (DESNZ, formerly BEIS) will share insights into their partnership aimed at combating climate change in developing countries. This collaboration focuses on mobilizing public and private sector financing for certified green buildings.

The session will highlight the IFC and the UK Government’s Department of Energy Security and Net Zero have partnered to launch a blended concessional finance initiative that accelerates the construction of certified green buildings through commercial financial institutions and the EDGE green building certification program. The session will feature a case study that demonstrates how advisory services and blended finance can stimulate growth in a market through a commercial financial institution. The Commercial International Bank (CIB) of Egypt will share their recent experience with the program, showcasing how this partnership facilitated the expansion of green construction practices in their market. Please note that existing blue zone access is required to attend this event.

Please find more information here.