India’s newly launched Smart City project is attracting foreign agencies. Singapore’s state-run Building and Construction Authority (BCA) has showed its devotion to associate with the project. This report has quoted, Koh Lin Ji, director of BCA group said “We want to collaborate with the Smart City project and make sustainable environment in India by 2025.”
Recently, the apex body of private real estate developers CREDAI (Confederation of Real Estate Developers` Association of India) launched EDGE green building certification system in India. A press release stated that CREDAI has join hands with International Finance Corporation (IFC) and Green Business Certification Inc. (GBCI). EDGE (Excellence in Design for Greater Efficiencies) is free and user-friendly software that suggest practical solutions for water and energy saving.
In India, the IFC’s green buildings program is supported by the European Union. To get qualify for green building certification; a building must achieve a reduction of 20% reduction in water, energy and construction resources compared to a standard building. “Resource-efficient layouts will help to verify the business case for developers to differentiate their projects by building green.”
What IFC is all about?
-IFC is a member of the World Bank Group, having tagline of ‘Creating Opportunity Where It’s Needed Most’.
-It is a largest source assisting private sector with finance in developing countries
-IFC promotes economic development by facilitating efficient capital markets for the member nations
-Plays a role of advisory to private sector projects
What GBCI is all about?
-GBCI is a third party agency independently recognizing excellence in green business industry performance and practice globally.
-CREDAI will motivate its members, including local chapters, to integrate resource efficiency in their plan using EDGE.
-Both IFC and GBCI will guide members and share best practices and information with Confederation of Real Estate Developers` Association of India on green building technologies.
The main aim of certification programme is to democratize the green ratings market through easy-to-enforce design solutions build by consensus among home-owners, developers, designers, and architects that green buildings. Green building certification results in transformation of housing market and adds value to the Indian realty sector. In India, the program is being launched in Delhi and Bangalore, in addition to Mumbai.