Major PH developers embrace green building

Major PH developers embrace green building

The push towards eco-friendly construction is not just a trend but a necessary shift in response to climate change.

A shift towards eco-friendly construction in the Philippines was observed, driven by government incentives and a growing environmental consciousness.

Maricris Sarino Joson, Director and Head Office Services Landlord Representation, said that major developers like Filinvest, SM Ayala, Neo Group, and Makati Commerce Tower have committed to building green, aiming for net-zero emissions by 2030. 

She mentioned the Renewable Energy Act of 2008 which marked a significant milestone in the Philippines' journey towards sustainability. 

This legislation, according to Joson, "really aims to promote and develop the use of renewable energy in the country." This has incentivised developers to adopt green practices. 

She added that the country now boasts 3.8 million square metres of office space that adhere to these sustainable standards. Post-pandemic, the shift towards green buildings is no longer just desirable but essential. 

“This is really good for the environment, to make sure that we're not reliant on fossil fuels, but we have identified solar, wind, hydro, geothermal and biomass as alternative renewable sources of energy,” she said.

Joson noted that institutions like RCBC, Landbank, AC Energy, and Manila Water have issued green bonds to support environmentally sound projects. These bonds represent a growing trend in the financial sector, where investments are increasingly aligned with sustainable development goals.

Joson describes the Green Building Code as "a comprehensive legislation that establishes policies, standards, incentives, mechanisms to promote, regulate, and monitor green building standards at the national level." 

She said that this act covers various aspects, from the development of national green building standards to capacity building initiatives, providing incentives and imposing penalties for non-compliance.

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