BPI backs firms building green structures, spaces

Ayala-led Bank of the Philippine Islands (BPI), together with the World Bank’s International Finance Corp. (IFC), continues to support companies constructing buildings that comply with the two-year old Green Building Code.

BPI vice president and head of sustainable energy finance Jo Ann Eala said the 167-year old bank has led the industry in financing investments that give flesh to the law on green buildings.

“The Philippines has been enjoying investor confidence for over a decade now, fueling the demand for buildings and office space. The problem with this economic growth, however, is that it has been intensifying pres- sure on the country’s energy supply and increasing our greenhouse gas emissions, thereby contributing to climate change – and none of us want that,” Eala said.

BPI’s pioneering SEF program, launched in 2008 with support from IFC, was itself invigorated by the promulgation of the code.

Many corporations, developers, and even government agencies as well as local government units are unaware of the Green Building Code passed in 2016 to mitigate the effects of global warming. It covers energy efficiency, water efficiency, solid waste management, material sustainability, indoor environmental quality, and site sustainability.

“A lot of architects, engineers, and contractors admit they still need assistance in appreciating the code and its mandatory requirements. Since 2016, we’ve been visiting stakeholders and decision makers all over the country to discuss the requirements of the code, and how BPI SEF could help them build structures that follow the code’s requirements,” Eala added.

Ramon Aguilos, EDGE executive director of the Philippine Green Building Initiative, said following the Green Building Code is one of the easiest steps for companies to take in order to mitigate climate change.

Aguilos said companies would in fact achieve sav- ings if they were to take the code into consideration when planning their spaces.

“Companies are likely to take on higher risks and higher operating costs if they don’t integrate the requirements of the Green Building Code in the design phase of development,” he added.

Companies in the building design and development phase are supported by BPI SEF by evaluating compliance to the new green building law, while likewise ensuring 20 percent cost savings in energy, water and embodied energy in materials, as espoused by the green building certification program called EDGE, short for Excellence in Design for Greater Efficiencies.