AREIT Inc., the real estate investment trust arm of Ayala Land Inc. (ALI), received EDGE zero carbon certification for eight office towers totaling 354,000 square meters.
The achievement makes ALI and AREIT’s offices the largest EDGE zero carbon certified portfolio in the Philippines.
“Our commitment to EDGE zero carbon is a testament to the value we see in developing environmentally-conscious developments to ensure a more sustainable future for the country,” said ALI group head for leasing and hospitality and AREIT director Mariana Zobel de Ayala.
Excellence in Design for Greater Efficiencies (EDGE) is an international green building certification system developed by the International Finance Corporation (IFC), a member of the World Bank Group.
EDGE zero carbon is the highest level of EDGE certification, awarded to properties that have neutralized their carbon emissions through renewable energy use.
It requires a minimum of 40-percent energy savings and 20-percent savings in water and embodied carbon in materials compared to the base case.
The eight AREIT buildings awarded with EDGE Zero Carbon Certification are Glorietta 1 and 2 Corporate Center, Solaris One, McKinley Exchange Corporate Center in Makati, Vertis North Corporate Centers 1, 2, and 3 in Quezon City and The 30th Corporate Center in Pasig.
These assets were certified following a 45.33-percent improvement in energy efficiency, 49.07-percent in water and 61.88 percent in embodied carbon material reduction.
ALI and AREIT signed in September an MOU with IFC to solidify their commitment to accelerating the transition to net zero.
Under the agreement, ALI and AREIT aim to achieve EDGE zero carbon across 1.5 million square meters of office space by 2025.
“We commend Ayala Land and ARElT on its latest EDGE Zero Carbon certification, the highest level for EDGE. This is a clear example of successfully translating climate ambitions into action and we look forward to seeing the rest of their office portfolio certified,” said IFC country manager for the Philippines Jean-Marc Arbogast.
ALI and AREIT have shifted 88 percent of their office portfolio to renewable energy, equivalent to 1.2 million square meters of gross leasing space, enabling their office locators to attain their ESG (environmental, social, and corporate governance) objectives.
