IFC and Indonesian Institutions Join Forces to Reduce Greenhouse Gas Emissions

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Jakarta, August 2, 2022 - Five Indonesian companies and a university were today officially recognized for their commitment to decarbonize their building portfolios, a move that's vital to the quest to lower greenhouse gas emissions.

The move came at a special seminar in Jakarta, organized by IFC, Green Building Council Indonesia (GBC Indonesia), and BCI Central, focused on spurring the country's green buildings market, with buildings accounting for almost 40 percent of the global greenhouse gas (GHG) emissions.

The financial institution, OCBC NISP; IT and data center provider, TelkomSigma; Indonesian International Islamic University (UIII); shopping centre, Ciputra Mall; and a retail company, Nirvana Wastu Pratama (NWP Retail), were each given EDGE (Excellence in Design for Greater Efficiencies) global certificates. EDGE is a green building standard and global certification system developed by IFC which is awarded for buildings that demonstrate resource efficiency of at least 20 percent in energy, water and embodied energy in materials.

OCBC NISP received EDGE Preliminary certificate for its office building, ON Space, in BSD City, Tangerang. ON Space building utilizes resource-efficient features and technologies to reduce its environmental impact and save on operating costs. By using reduced window to wall ratio, LED lighting, low-E coated glass windows and smart meters, building's energy use can be reduced by up to 28%, while water-efficient plumbing fixtures can reduce its overall water consumption by as much 61%. ON Space is the first private bank's office building in Indonesia to be certified under EDGE system.

"To reduce greenhouse gas emissions, decarbonization in the building industry in Indonesia is inevitable. Building certification is therefore playing a crucial role, not only it can be the legitimation of the building, but also as tools to make sure decarbonization is done in the right way," said Iwan Prijanto, Chairperson of GBC Indonesia. "To make it more sustainable, buildings need to be continuously evaluated so that the performance of the building is maintained at the highest possible level. This is a collective effort which requires a strong collaboration from all stakeholders in the building industry to take action."

The seminar, which brought together developers, contractors, investors, banks, and other building stakeholders to promote more climate-friendly construction in Indonesia, is part of IFC's ongoing efforts to build greener cities by working with real estate groups to decarbonize existing assets, mainstream green building codes, and promote resource efficiency plans through the EDGE.

"We are delighted to see these prominent organizations joining IFC's strong resolve to address climate change," said Azam Khan, IFC's Country Manager for Indonesia and Timor-Leste. "These Indonesiancompanies and institutions are steering the global building sector onto alow-carbon path by committing to decarbonize their portfolios. It delivers an important message to investors, clients, and peers that all buildings-regardless of sector and floor space-can do their bit by becominggreen."

As of July 2022, EDGE has certified more than 1.7 million square meters of building space in Indonesia, including the most recently certified Istiqal Mosque, cutting carbon emissions by as much of 53,000 tons per year, which is equivalent to planting around 800,000 trees.

With IFC's help, Jakarta has developed a mandatory green building code to reduce energy consumption from residential and commercial buildings by setting energy and water efficiency requirements for building design.

About IFC

IFC-a member of the World Bank Group-is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In the fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.

About EDGE

An innovation of IFC, a member of the World Bank Group, EDGE is a green building standard and a certification system that empowers building professionals to quickly and easily determine the most cost-effective ways to build green based on building type and the local climate. Available worldwide, EDGE was created in response to the need for a measurable solution to prove the financial case for building green.

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About GBC Indonesia

GBC Indonesia is an independent and not-for-profit organization founded in 2009 by leading professionals and companies in the building industry in Indonesia. Our main mission is to transform market and industry players to be more responsible and sustainable. The four main programs of GBC Indonesia are Rating Development, Training and Education, Green Building Certification, and Stakeholder Engagement. GBC Indonesia is the only Indonesian representation at World GBC as an established member. GBC Indonesia releases GREENSHIP certification as its own rating system and managed the certification process of EDGE from IFC.d

About BCI Central

BCI Central is the leading provider of building and construction information globally. Established in 1998, BCI Central was founded to create efficiencies and enhance transparency in the intrinsically complex construction industry. BCI software solutions and related services achieve this while simultaneously enabling their clients to identify sales opportunities, make informed decisions and connect with key target markets.

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