Investments in “green” or environment-friendly buildings could reach a cumulative amount of $3.4 trillion by 2025, a study by the International Finance Corp. (IFC) showed. In a statement, the IFC, a member of the World Bank Group, said that figure would be attained “if countries adopt better building codes and standards, and create targeted financial incentives such as green-building certification and mandatory benchmarking of energy use.” Other important reforms should encourage new utility business models, including green mortgages and energy-service companies, it added. “Green buildings can achieve as high as 20 percent to 25 percent of the Philippine market by 2025, with a combination of policy support, tax benefits, educational and awareness programs, and realized savings from energy efficiency,” the IFC said. In 2010, buildings accounted for 36 percent of the country’s total annual power consumption, and emitted 33.28 million metric tons of carbon dioxide. In sev...
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