NAREDCO Maharashtra Teams Up with IFC EDGE to Boost Green Building Initiatives by 2025
In a significant move towards sustainable real estate, NAREDCO Maharashtra has partnered with the International Finance Corporation (IFC) EDGE to promote green building initiatives by 2025.
Sustainable Real EstateGreen BuildingsNaredco MaharashtraIfc EdgeEnvironmental ImpactReal Estate MumbaiJan 30, 2025
This partnership aims to promote green building practices and certifications across Maharashtra, contributing to a more environmentally friendly construction industry.
NAREDCO Maharashtra, established in 1980, is a premier trade association representing real estate developers in the state.
With a membership of over 3,000 developers, it plays a crucial role in shaping the real estate landscape.
The organization is committed to advocating for sustainable practices and ethical standards in the industry.
The International Finance Corporation (IFC), a member of the World Bank Group, launched the EDGE (Excellence in Design for Greater Efficiencies) certification program to promote resource-efficient buildings.
EDGE focuses on reducing energy, water, and material use in construction, making buildings more sustainable and cost-effective over their lifespan.
Under this partnership, NAREDCO Maharashtra and IFC EDGE will work together to educate developers, architects, and builders about the benefits of green buildings.
They will organize workshops, seminars, and training programs to build awareness and provide technical assistance.
The goal is to achieve widespread adoption of green building practices by 2025.
According to NAREDCO Maharashtra, the real estate sector is one of the largest contributors to carbon emissions and resource consumption.
By adopting green building standards, developers can significantly reduce their environmental impact while also enhancing the quality of life for residents and users.
Green buildings not only offer better indoor air quality and energy efficiency but also provide long-term cost savings through reduced utility bills.
The IFC EDGE certification process is straightforward and cost-effective, making it accessible to a wide range of projects, from small residential buildings to large commercial complexes.
The certification involves a comprehensive assessment of a building's design, construction, and operation to ensure it meets specific sustainability criteria.
NAREDCO Maharashtra and IFC EDGE are also exploring the possibility of offering financial incentives to developers who achieve green building certifications.
These incentives could include reduced interest rates on loans, tax benefits, and faster regulatory approvals.
The aim is to make green building practices economically viable and attractive to all stakeholders.
In addition to the technical and financial support, the partnership will focus on creating a robust ecosystem for green building materials and technologies.
This includes developing local supply chains and promoting innovative solutions that can be widely adopted.
The initiative aligns with the broader goals of the Indian government to promote sustainable urban development and meet its commitments under the Paris Agreement.
By 2025, NAREDCO Maharashtra and IFC EDGE hope to see a significant increase in the number of certified green buildings in the state, contributing to a cleaner and more sustainable future for all.
Frequently Asked Questions
What is NAREDCO Maharashtra?
NAREDCO Maharashtra is a leading trade association representing real estate developers in the state of Maharashtra, India. It was established in 1980 and has over 3,000 developer members. The organization advocates for sustainable practices and ethical standards in the real estate industry.
What is IFC EDGE?
IFC EDGE is a certification program launched by the International Finance Corporation (IFC) to promote resource-efficient buildings. It focuses on reducing energy, water, and material use in construction, aiming to make buildings more sustainable and cost-effective.
What are the benefits of green buildings?
Green buildings offer several benefits, including better indoor air quality, energy efficiency, and long-term cost savings through reduced utility bills. They also have a lower environmental impact and enhance the quality of life for residents and users.
What will NAREDCO Maharashtra and IFC EDGE do to promote green building initiatives?
NAREDCO Maharashtra and IFC EDGE will organize workshops, seminars, and training programs to educate developers, architects, and builders about green building practices. They will also explore financial incentives and create a robust ecosystem for green building materials and technologies.
By when does this partnership aim to achieve its goals?
The partnership between NAREDCO Maharashtra and IFC EDGE aims to achieve widespread adoption of green building practices by 2025, contributing to a more sustainable future for the state.
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