The building and construction sector accounts for nearly 40 percent of energy-related CO2 emissions worldwide, with increasingly negative impacts on the environment and health. Therefore, sustainable and environmentally friendly construction practices are becoming absolutely essential.
ProCredit Bank SH.A has launched a new green building finance initiative, which will help clients and developers to construct and purchase sustainable energy-efficient buildings. Eligible clients will be able to quantify the impact that their decisions have towards creating a more efficient building, with the ultimate goal of transitioning all buildings to zero carbon. Supported by free technical support from Sintali-SGS, the facility offers green finance expertise, an attractive loan interest rate for the investment, as well as discounted fees for green building certification. With this pioneering new facility, the Bank aims to stimulate the market for green buildings in Kosovo.
Recognising the need to tackle this issue, IFC (part of the World Bank Group) experts developed the EDGE (Excellence in Design for Greater Efficiencies) programme to make it easier for owners and developers to assess the energy efficiency of their buildings. When the project achieves reductions of 20 percent in energy, water and embodied energy in materials, it is ready for EDGE certification – and of course, the property will have a significantly higher value.
“We need to respond to the climate crisis and reducing the greenhouse gas emissions caused by the construction sector is one way we can do this. Our new Service Agreement with Sintali-SGS aims to support and usher the construction sector and other businesses transition towards greener buildings. We hope that by providing this new service and by offering additional incentives, we can encourage the Kosovo construction market to contribute to a more sustainable future” says Visar Paçarada, a member of the Management Board of ProCredit Bank SH.A Kosovo.
Operating as a one-stop shop for EDGE certification and audit services, Sintali-SGS offers clients a simple and transparent path to EDGE certification. Compliance with EDGE eligibility criteria for Energy Efficient buildings allows ProCredit clients to certify their building to World Bank standards.
ProCredit will be holding a virtual launch event on 10 December at 14:00 hrs together with IFC and Sintali-SGS to introduce the programme and provide more details. To sign up for this virtual event, please click on the following link: REGISTER NOW
This new financial service is part of the ProCredit group’s broader commitment to sustainability. The ProCredit group has committed to achieving carbon neutrality for its own operations in the mid-term as well as to increasing the share of green lending in its total loan portfolio to 20 percent.
About ProCredit Bank SH.A Kosovo
ProCredit Bank SH.A. is a development-oriented commercial bank which engages in responsible banking activities. Part of this responsibility is acting in accordance with predefined social, ethical and environmental standards. It provides quality services for small and medium businesses as well as for private clients who prefer to bank efficiently through electronic channels. A responsible approach to environmental protection is an important part of ProCredit Bank’s social responsibility and a value embedded into its banking philosophy. For more information, visit www.procreditbank-kos.com
Sintali and SGS work together to act as an EDGE global certification partner. Operating as a one-stop shop for EDGE certification and audit services, Sintali-SGS delivers the highest quality service for clients around the world. Clients receive a single contract, an all-inclusive price and expert advice at no additional cost. Through state-of-the-art systems and the latest technologies, clients also access innovative solutions that support cost-effective and efficient processes. With a rich history in auditing, developing and operating green building standards, Sintali-SGS brings global expertise to local markets and through a unique network of offices and partners around the world provide local support. For more information, visit www.sintali.com
An innovation of IFC (part of the World Bank Group), EDGE helps property developers to build and brand green in a fast, easy and affordable way. EDGE is supported by free software that encourages solutions to reduce energy, water and the energy used to make building materials by at least 20 percent, which is the standard for EDGE certification. The programme has been generously supported by the following donors: Austria, Canada, Denmark, ESMAP, EU, Finland, GEF, Hungary, Japan and Switzerland. For more information, visit www.edgebuildings.com
IFC, a sister organisation of the World Bank and member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. It works in more than 100 countries, using its capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2019, IFC invested more than $19 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org