At a recent industry event in Lagos, professionals in the building and construction sectors were advised to embrace green building practices to secure sustainable financing for their projects. The experts who shared this recommendation were speaking at the Ecobank Design and Build Expo.
Green building, also known as sustainable building, involves designing and constructing structures that prioritize environmentally responsible and resource-efficient processes throughout their lifecycle. This includes planning, design, construction, operation, maintenance, renovation, and demolition.
During the event, the Chief Executive Officer of Chapel Hill Denham, Bolaji Balogun, highlighted the importance of sustainable practices in his presentation on ‘Sustainable Financing.’ He emphasized that projects focusing on environmental sustainability are more likely to attract lower-cost capital both locally and internationally. Balogun also noted the growing preference of multinational companies for buildings with EDGE certification, which signifies excellence in design for greater efficiencies.
Balogun discussed various sources of sustainable financing, including Sukuk, blue financing, and gender financing, and encouraged organizations to explore capital and bond markets to secure funding for their projects.
Another speaker at the event was the Senior Investment Officer at the International Finance Corporation, Godwin Tapela, who discussed the EDGE certification system developed by the IFC to reduce the environmental impact of the building sector, particularly in emerging markets. Tapela reiterated the IFC’s commitment to promoting awareness about sustainable and eco-friendly buildings and providing financing solutions for developers focused on green buildings and affordable housing.
The Ecobank Design and Build Expo, with the theme ‘Building Nigeria Together,’ featured around 60 exhibitors showcasing the latest products and innovations in architecture, construction, building materials, household appliances, engineering, and interior design. Former President Olusegun Obasanjo visited the expo, commending the exhibitors for their high-quality work.
The event included participation from notable global brands such as SABA Steel, Coleman Wire & Cables, Donna Spectre, Dulux Paints, HTL Africa, ITB Nigeria Limited, and Mota Engil Nigeria.