NEW DELHI, July 10: International Finance Corporation (IFC), a member of the World Bank Group, and Green Business Certification Inc (GBCI) have partnered with realtors' apex body - the Confederation of Real Estate Developers Association of India (CREDAI) - to launch EDGE green building certification system in India.
The certification will boost eco-friendly construction and make buildings more resource-efficient, IFC said in a statement.
GBCI is a third-party agency recognising excellence in the green building industry.
EDGE (Excellence in Design for Greater Efficiencies) is a free, easy-to-use software that suggests practical solutions for energy and water savings, improving operational performance at little or no extra cost.
To qualify for certification, a building must achieve a 20 percent reduction in energy, water, and construction resources compared with a standard building.
CREDAI will encourage its members, including local chapters, to incorporate resource efficiency in their design using EDGE. IFC and GBCI will train members and share global best practices with CREDAI on green-building technologies.
"This partnership has the potential to transform the housing market and help the real estate industry incorporate sustainable practices," MCHI-CREDAI President Dharmesh Jain said.
"EDGE will help push the eco-friendly construction market in India," said Mahesh Ramanujam, President, GBCI.
"We have a window of opportunity to shape resilient cities through smart design and growth, given that two-thirds of India's building infrastructure is still to come up," said Prashant Kapoor, IFC's Principal Green Buildings Specialist and the founder of EDGE.
In India, the programme is being launched in Bengaluru and Delhi, besides Mumbai.