By Modupe Gbadeyanka
Stakeholders in the building and construction sectors have been urged to adopt green building practices as a means to secure sustainable financing for large-scale projects.
This appeal was made at the 2024 Ecobank Design and Build Expo themed Building Nigeria Together held from November 27 to December 1, 2024, at the Ecobank Pan African Centre (EPAC) in Lagos.
The event featured around 60 exhibitors showcasing their latest products and innovations in architecture, construction, building materials, household appliances, engineering, and interior design.
Green building or sustainable building refers to the design and construction of structures that prioritize environmentally responsible and resource-efficient processes throughout their lifecycleโspanning planning, design, construction, operation, maintenance, renovation, and demolition.
The chief executive of Chapel Hill Denham, Mr Bolaji Balogun, emphasized the importance of sustainable practices during his presentation on Sustainable Financing.
He highlighted that projects with an environmentally-friendly focus are more likely to attract lower-cost capital both locally and internationally, pointing out that multinational companies are increasingly seeking buildings with EDGE (Excellence in Design for Greater Efficiencies) certification.
โThe world is shifting towards green buildings. These buildings attract cheaper capital, both domestically and abroad. Large organizations now prefer EDGE-certified buildings, which offer environmental features like low carbon footprints, energy efficiency, and reduced operating and maintenance costs,โ he stated.
Mr Balogun also mentioned other sources of sustainable financing, such as Sukuk, blue financing, and gender financing. He encouraged organizations to explore capital and bond markets to secure funding.
The Senior Investment Officer at the International Finance Corporation (IFC), Mr Godwin Tapela, spoke about the EDGE certification system, which was developed by the IFC to minimize the environmental impact of the building sector, particularly in emerging markets.
He emphasized the corporationโs ongoing efforts to promote awareness of the importance of eco-friendly, sustainable buildings.
Mr Tapela also reaffirmed that the IFC remains committed to providing sustainable financing solutions, especially for developers of green buildings and affordable housing.
A highlight of the expo was a visit from former President Chief Olusegun Obasanjo, who toured the various pavilions, which displayed cutting-edge trends, innovations, and sustainable practices, praising the exhibitors for the high quality of their work.
Prominent global brands participating in the expo included SABA Steel, Nigeriaโs largest steel manufacturer; Coleman Wire & Cables, the leading cable producer in West Africa; Donna Spectre, a major player in indigenous oil and gas logistics; Dulux Paints, a top paint brand in Nigeria; 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.