The International Finance Corporation (IFC) has urged banks in Ghana to expand their lending portfolios to support sustainable building projects, embarked on by both government and the private sector, to boost the country’s carbon emissions reduction efforts.

Kyle Kelhofer, the Senior Country Manager for IFC Ghana, Liberia, and Sierra Leone, said financing sustainable construction projects offered environmental benefits and profitable returns on investment for the banks.

In an exclusive interview with the Ghana News Agency at the end of a certification programme for some members of the Ghana Institution of Surveyors (GhIS) in Accra, he said that it would contribute greatly to mitigating climate change.

Buildings and residences account for 40 per cent of global emissions, a situation that Mr Kelhofer described as an opportunity for Ghana’s banking sector to contribute to climate change mitigation while expanding their business operations into the growing market segment.

“Green buildings not only improve environmental outcomes but also save your bottom line today and will really save your bottom line going forward, making loan repayments more secure,” he said.

Mr Kelhofer, therefore, encouraged all banks and other financial institutions to design loan products for environmentally conscious building projects across the country.

The Corporation, he said, was providing training and capacity-building programmes to help financial institutions understand the business case for sustainable building projects.

He cited the Corporation’s support for the development of the world’s third-largest rooftop solar installation at LMI Holdings in Ghana as an example of their commitment to sustainable infrastructure investments.

Mr Kofi Obeng-Ayirebi, the President, GhIS, said every material emits a certain amount of energy. And we are all seeking the will to reduce the level of energy or carbon that the material building emits into society.

Though green buildings might be expensive, they provide long-term benefits to individuals, businesses and the environment at large, he said, urging people to prioritise ventilated buildings over fully-glass designed ones.

Mr Obeng-Ayirebi urged the participants to implement the outcomes of the training as professionals to support the country’s aspiration of reducing carbon emissions and having a sustainable environment.

He pledged GhIS’ continuous advocacy towards enhancing policies and educating the public on the benefits of green buildings, including water and energy conservation, minimised waste and pollution, as well as improved indoor air quality and occupants’ health.

The Designing for Greater Efficiency (DfGE) certificate programme provided practical tools to help building professionals measure and reduce energy, water, and materials used in construction.

The IFC programme, with support from the Swiss State Secretariat for Economic Affairs (SECO), formed part of efforts in promoting better design choices that are both environmentally responsible and financially sound in Ghana.

Kwesi Asante, a beneficiary, said the training had been impactful as he had started implementing some of the learnings in his everyday life, including taking conscious actions to reduce water wastage.

He said the knowledge gained would also help in incorporating green considerations into building valuations and advised individuals, households and businesses to construct green buildings.