AREIT says 8 office buildings awarded green certification
AYALA LAND, Inc.’s real estate investment trust subsidiary AREIT, Inc. has obtained EDGE Zero Carbon certification for eight office buildings, the company announced on Tuesday.
These buildings comprise Glorietta 1 and 2 Corporate Center, Solaris One, McKinley Exchange Corporate Center in Makati, Vertis North Corporate Centers 1, 2, and 3 in Quezon City, and The 30th Corporate Center in Pasig, AREIT said in a regulatory filing.
The buildings were awarded certification on account of a 45.33% improvement in energy efficiency, 49.07% in water efficiency, and 61.88% in embodied carbon material reduction, the company said.
EDGE Zero Carbon is the highest certification given to properties that have neutralized their carbon emissions via renewable energy.
The certification requires a minimum of 40% energy savings and 20% savings in water and embodied carbon in materials compared to the base case.
“Our commitment to EDGE Zero carbon is a testament to the value we see in developing environmentally conscious developments to ensure a more sustainable future for the country,” Ayala Land Senior Vice-President and Group Head for Leasing and Hospitality Mariana Zobel de Ayala said.
In September, Ayala Land and AREIT forged a memorandum of understanding with the International Finance Corp. (IFC) to achieve EDGE Zero Carbon certification across 1.5 million square meters (sq.m.) of office space by 2025.
The two companies said they have moved 88% of their office portfolio to renewable energy, corresponding to 1.2 million sq.m. of gross leasing space.
EDGE is a green building standard and certification developed by the IFC, which is a member of the World Bank Group. The certification helps property developers to build and brand “green” developments in a fast, easy, and affordable manner.
On Tuesday, AREIT stocks rose by P1.20 or 3.8% to P32.70 each while Ayala Land shares fell 50 centavos or 1.49% to P33 apiece. —