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At COP26, members of the International Development Finance Club (IDFC) will start a cooperation on green buildings at a side event at the IDFC Pavilion. IDFC with its 26 Members from developed and developing countries has a strong commitment to increasing the quality and quantity of climate finance to further align financial flows with the Paris Agreement and SDGs. Buildings and construction are the sleeping giant for climate change mitigation and adaptation. Green buildings can achieve up to 80% energy savings, bring significant health and well-being benefits and increase local resilience to climate change. They make higher-value and lower-risk assets compared to conventional buildings. In 2019, USD 5.9 trillion were invested globally into buildings and construction. Out of this, only USD 152 billion, 3%  were directed towards energy-efficient construction.

Development banks have a key role to play to trigger investments in green buildings. To increase the volume of green building financing and accelerate the transition towards a climate-friendly and resilient building sector, IDFC is starting a Green Buildings cooperation group in the context of its Climate Working Group. With technical support from PEEB, this group will facilitate knowledge sharing and exchange among its members around good practices, organise international events and create awareness, and explore matchmaking opportunities for project financing to upscale green building portfolios. Watch online

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