Accra: The International Finance Corporation (IFC) has urged banks in Ghana to expand their lending portfolios to support sustainable building projects, embarked on by both government and the private sector, to boost the country's carbon emissions reduction efforts. Mr Kyle Kelhofer, the Senior Country Manager for IFC Ghana, Liberia, and Sierra Leone, emphasized that financing sustainable construction projects offers environmental benefits and profitable returns on investment for the banks.
According to Ghana News Agency, Mr Kelhofer highlighted the significance of sustainable construction in mitigating climate change, noting that buildings and residences account for 40 per cent of global emissions. He described this as an opportunity for Ghana's banking sector to contribute to climate change mitigation while expanding their business operations into the growing market segment. 'Green buildings do not only improve environmental outcomes but also save your bottom line today and will really save your bottom line going forward, making loan repayments more secure,' he said.
Mr Kelhofer encouraged all banks and other financial institutions to design loan products for environmentally conscious building projects across the country. The Corporation is providing training and capacity-building programmes to help financial institutions understand the business case for sustainable building projects. He cited the Corporation's support to the development of the world's third-largest rooftop solar installation at LMI Holdings in Ghana as an example of their commitment to sustainable infrastructure investments.
Mr Kofi Obeng-Ayirebi, the President of the Ghana Institution of Surveyors (GhIS), highlighted the energy emissions associated with building materials and the collective aim to reduce this impact. He acknowledged that green buildings might be expensive but stressed their long-term benefits to individuals, businesses, and the environment. He urged for prioritizing ventilated buildings over fully-glass designed ones.
Mr Obeng-Ayirebi encouraged participants to implement the outcomes of the training to support the country's aspiration of reducing carbon emissions and achieving a sustainable environment. He pledged GhIS' continuous advocacy towards enhancing policies and educating the public on the benefits of green buildings, including water and energy conservation, minimized waste and pollution, as well as improved indoor air quality and occupants' health.
The Designing for Greater Efficiency (DfGE) certificate programme provided practical tools for building professionals to measure and reduce energy, water, and materials used in construction. The IFC programme, with support from the Swiss State Secretariat for Economic Affairs (SECO), is part of efforts to promote better design choices that are both environmentally responsible and financially sound in Ghana.
Mr Kwesi Asante, a beneficiary of the training, shared that the programme had been impactful, as he had started implementing some of the learnings in his everyday life, including conscious efforts to reduce water wastage. He noted that the knowledge gained would help incorporate green considerations into building valuations and advised individuals, households, and businesses to construct green buildings.
