ProCredit Bank Kosovo, part of the international ProCredit group of development-oriented commercial banks, has been awarded EDGE Advanced Certification for its Head Office building in Prishtina, Kosovo.
The certification marks a significant milestone in the group’s journey towards a net-zero future and highlights its commitment to sustainability and it is certainly an important milestone for the Bank, demonstrating its dedication to environmental responsibility and sustainable practices.
What is EDGE Certification?
EDGE (“Excellence in Design for Greater Efficiencies”), an innovation of IFC, is a cloud-based platform that makes it easy to design and certify resource-efficient and zero carbon buildings around the world. To qualify for certification, a building must achieve at least a 20 percent reduction in energy, water, and embodied energy in materials compared to a conventional building.
ProCredit Kosovo’s Achievements:
The Head Office building in Kosovo has achieved EDGE Advanced Certification,with a 47% improvement in energy savings, 33% in water savings, and 70% less embodied energy in materials compared to the local baseline. Hence, the building was awarded the EDGE Advanced Certificate, which is a globally recognised certification for buildings that meet specific criteria for energy, water, and material use efficiency. In addition to these impressive numbers, the building’s sustainability practices have resulted in saving 294 tonnes of CO2 emissions per year,
Some of the measures that ProCredit Kosovo has implemented to achieve certification were the use of an energy-efficient cooling system and lighting, insulating the roof and exterior walls, and generating its own electricity by installing solar panels. Additionally, Procredit Bank Kosovo has implemented a range of measures to reduce the building’s water consumption, such as water-efficient faucets and toilets.
The certification of ProCredit Bank Kosovo’s Head Office building to the EDGE building standard is just one example of its commitment to sustainability. The Bank has not only implemented environmentally friendly measures in its own buildings, but has also emerged as a pioneer in advocating green finance in Kosovo. It offers a wide range of sustainable financial products and services. The Bank’s Green Portfolio amounted to EUR 110 million outstanding as of December 2022. The Green Portfolio includes loans for projects that promote environmental sustainability, such as renewable energy, as well as energy-efficient and environmentally friendly technologies. By actively promoting sustainable finance and offering green financial services, ProCredit Bank Kosovo has helped to avoid 13,237 tCO2 in emissions solely from projects financed in 2022, thereby reducing the environmental impact of economic activities in the country.
ProCredit as a group has already achieved certification for its head offices in North Macedonia, Georgia, and Bulgaria, with its office in Bulgaria becoming the first building in Europe to achieve EDGE Zero Carbon.
The ProCredit group’s commitment to sustainability is evident in its comprehensive environmental management system, which addresses both its internal and external environmental impacts. The group’s green loan portfolio has already surpassed EUR 1.2 billion, representing 19.7% of its total loan portfolio as of the end of September 2022.
Global Market Growth on Green Finance:
The exponential global market growth of the green finance industry from USD 5.2 billion in 2012 to 504.5 billion in 2021 bears testament to the increasing global demand for sustainable finance. ProCredit Bank Kosovo is committed to maintaining its leading role in green finance in the country.
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