Emirates Green Building Council’s task force to develop green financing scheme

EmiratesGBC Press Release

  • Joins hands with Dubai Carbon Centre for Excellence to address challenges of funding green retrofit projects

Dubai, UAE; August 11, 2012: Emirates Green Building Council (EmiratesGBC), an independent forum aimed at conserving the environment by strengthening and promoting green building practices, is working with industry partners to develop a green financing scheme that will support the funding of green retrofit projects.

In line with its commitment to the UAE’s vision of a ‘Green Economy for Sustainable Development,’ the Council’s dedicated task forces are discussing various aspects that will promote the development of sustainable built environments.

For the green financing scheme, a taskforce of EmiratesGBC is working with Dubai Carbon Centre for Excellence to address the current challenge of funding green retrofit projects. The Council is also in discussion with various banks and financial institutions to obtain their inputs. Over the next six months, the Council hopes to develop a mechanism for financing energy efficiency retrofit projects in the UAE in partnership with other stakeholders.

Another taskforce of the Council is developing technical guidelines for greening existing buildings. The team, which comprises consultants, contractors, building owners, facility manager, equipment providers and material suppliers, prepares comprehensive, practical and cost effective guidelines that contain various aspects of green retrofits. These cover energy efficiency, water conservation, waste management, indoor environment and sustainable material purchasing. The recommendations will go through a rigorous internal and external review process prior to publication towards the end of the year.

Adnan Sharafi, EmiratesGBC Chairman, said: “The taskforces of EmiratesGBC is exploring definite strategies to address the key challenges that affect the development of sustainable built environments. One of the key issues the industry faces today is financing for retrofit projects, and we are confident that through our partners we can drive the creating of a green financing scheme shortly. Our goal is to enable UAE to become one of the top five global leaders in helping to reduce the ecological footprint by 2015.”

Early this year, the Council had called for volunteers to serve on ten task forces. EmiratesGBC members including leading organizations across supply chain industry expressed interest and registered as volunteers.

To manage key stakeholder relationships, the Council has identified representatives to form task forces that aim to maintain strong relationships with its current stakeholders and ensure that partnership objectives and agreements are being met. Another team looks after membership offerings and a different crew manages the development of the Council’s events calendar.

A remarkable success of the task force is the launch of the Academy Page of the EmiratesGBC official website. It provides numerous technical papers that would strengthen awareness on sustainable built environments.

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Note to Editors

About Emirates Green Building Council:

The Emirates Green Building Council (EmiratesGBC) was founded in June 2006, and became the 8th full member of the World Green Building Council in September 2006. EmiratesGBC is an organization that promotes and educates on green issues in the built environment and is the official body for the UAE endorsed by the World Green Building Council. EmiratesGBC currently has around 260 members in the UAE which represents 1000s of individuals interested and involved in Green Building in the UAE and the region. In addition, EmiratesGBC members receive discounts on a number of programmes such as those related to conferences, seminars, training and green building events.

For further information, please contact:
Mohammed Al Tawil / Sheila Baldago
ASDA’A Burson-Marsteller
+9714 4507600
mohammed.altawil@bm.com / sheila.baldago@bm.com