Ayala Land Inc. (ALI) is tapping the International Finance Corp.’s (IFC) green building standard EDGE to create a zero carbon portfolio by 2025.
The two parties signed the memorandum of understanding Tuesday for the initiative, which Ayala Land said will “help accelerate the transition of the Philippine property sector toward net zero.”
“Under this historic agreement, Ayala Land and AREIT (Inc.) aim to achieve by 2025 EDGE Zero Carbon certification across its portfolio of 1.5 million square meters, with advisory support from IFC,” Ayala Land said.
“This ambitious undertaking aims to establish the Philippines’ largest EDGE Zero Carbon portfolio, comprising 900,000 square meters to be certified by 2024, and an additional 600,000 square meters by 2025,” it added.
Ayala Land said the certification of the properties within the leasing portfolio signifies a “profound commitment” to optimizing energy and water utilization while significantly reducing embodied carbon within construction materials.
Notably, 1.3 million square meters of ALI and AREIT’s portfolio already operate on 100 percent renewable energy sources, a commitment that will endure for all forthcoming developments,” it said.
“For Ayala Land and AREIT, this highest level of EDGE is what we are aiming to secure in line with our goal to become the largest EDGE Champion in the Philippines. We believe achieving zero carbon in our buildings will yield not only for ourselves but also for our valued office locators the most substantial, relevant and much needed contribution towards long-term sustainability and environmental responsibility,” said Carol Mills, AREIT chief executive officer and head of Ayala Land Offices.
“Ayala Land is prepared to go above and beyond the EDGE Zero Carbon framework, starting with Embodied Carbon – we are committing to reduce embodied carbon in our buildings beyond what is required through efficient design and use of construction materials. We will continue to explore partnerships with suppliers of sustainable materials with less carbon footprint and further offset our embodied carbon through our carbon forests. We are also taking initiative to divert generated waste away from landfills. We make sure that a significant volume of our generated waste is being sent to recyclers, ecohubs and composts,” added Meean Dy, Ayala Land incoming chief executive officer.
