Godwin Tapela, International Finance Corporation’s Senior Investment Officer Green building practices have been promoted by industry professionals in the building and construction industries as a way to obtain long-term funding for major projects.
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This was the main conclusion drawn from speakers at last week’s Ecobank Design and Build Expo in Lagos. The term “green building,” sometimes known as “sustainable building,” describes the planning, design, construction, operation, maintenance, renovation, and demolition of buildings that emphasise resource efficiency and environmental responsibility throughout their lifecycle.
Chapel Hill Denham CEO Bolaji Balogun stressed the value of sustainable practices in his talk on “Sustainable Financing.” He emphasised that ecologically conscious initiatives have a higher chance of drawing in less expensive funding from both domestic and foreign sources. Additionally, he noted that global corporations are increasingly looking for buildings certified by EDGE (Excellence in Design for Greater Efficiencies).
“The world is moving towards green buildings,” he clarified. These structures get less expensive funding from both domestic and foreign sources. Because EDGE-certified buildings provide environmental benefits like low carbon footprints, energy efficiency, and lower operating and maintenance costs, large organisations are increasingly choosing them.
Other sustainable funding options including Sukuk, blue financing, and gender financing were also proposed by Balogun. In order to obtain funds, he advised organisations to investigate the capital and bond markets. The International Finance Corporation (IFC) created the EDGE certification system to reduce the environmental effect of the building industry, especially in emerging nations, according to Godwin Tapela, Senior Investment Officer at the IFC.
He underlined the company’s continuous initiatives to raise awareness of the value of sustainable, eco-friendly structures. Additionally, Tapela reiterated the IFC’s dedication to offering sustainable financing options, particularly for those who produce affordable housing and green structures. The Ecobank Design & Build Expo, with the theme “Building Nigeria Together,” was held at the Ecobank Pan African Centre (EPAC) on Victoria Island in Lagos from November 27 to December 1, 2024.
About 60 exhibitors showcased their most recent ideas and products in engineering, interior design, building materials, architecture, and home appliances. The visit of former President Chief Olusegun Obasanjo GCFR, who explored the different pavilions showcasing innovative ideas, sustainable practices, and cutting-edge trends, was a highlight of the expo.
He gave the exhibitors great marks for their excellent work. The largest steel manufacturer in Nigeria, SABA Steel; Coleman Wire & Cables, the top cable manufacturer in West Africa; Donna Spectre, a major player in local oil and gas logistics; Dulux Paints, one of Nigeria’s leading paint brands; HTL Africa, an innovative architectural firm; ITB Nigeria Limited, a major construction company in Nigeria and West Africa; and Mota Engil Nigeria, a leading civil construction company, were among the prominent international brands that attended the expo.
