International Alliance to Drive Change in the Built Environment with Four New Partners

The international alliance between the U.S. Green Building Council (USGBC), the UK-based Building Research Establishment (BRE) and the Green Building Council of Australia (GBCA) is welcoming four new partners as it aims to unlock the sustainable finance needed for the built environment to meet its climate goals. These include the Singapore Green Building Council (SGBC), GRESB, the Climate Bonds Initiative (CBI), and the Carbon Risk Real Estate Monitor (CRREM).

The first in a series of milestones for the partnership, the alliance will publish next month a practical guide: Financing Transformation: A Guide to Green Building for Green Bonds and Green Loans. The guide will show how verification and certification schemes ensure compliance with multiple sustainable classification frameworks used globally, such as the EU and UK green taxonomies, and how they can be used to put the built environment on a 1.5C trajectory.

With the SGBC joining the alliance, the Green Mark certification scheme will be incorporated into the practical guide. This means that rating systems used across every continent will be included showing how these can be used to unlock sustainable finance towards green buildings.

Having GRESB and CBI as supporting partners means that the alliance is backed by the key players that investors, banks, and issuers rely on to demonstrate the sustainable credentials of their portfolios and debt instruments.

Meanwhile, CRREM’s participation ensures that as the collaboration continues, that there is clear alignment with key science-based decarbonization trajectories for the built environment.

The alliance will hold an event during London Climate Action Week, June 27, 2024 – Uniting the global built environment to drive climate action – at The View in The Royal College of Surgeons, London to mark the publication of the official guide. The event will bring together individuals, organizations and communities with a focus on sustainable development as they discuss ways to accelerate global climate action.

Yvonne Soh, Executive Director of the Singapore Green Building Council (SGBC): “The Singapore Green Building Council is proud to join this international alliance focused on unlocking sustainable finance for green buildings.  Participation alongside fellow leading green building councils like the USGBC and GBCA strengthens our collective voice and accelerates global progress towards a net zero future.  We are confident that the practical guide being developed will be a valuable resource for investors and developers, showcasing how green building certification schemes like Singapore’s Green Mark scheme can contribute to achieving ambitious climate goals and attracting sustainable financing.”

Dr. Chris Pyke, Chief Innovation Officer, GRESB BV: “GRESB recognizes green building as an important tool to inform institutional investment in real assets. The new guide will help increase the social and environmental impact of capital invested in green bonds and loans.”

Aishwarya Sankar, Buildings Sustainability Analyst at Climate Bonds: “This partnership on international sustainable finance guidance reaffirms Climate Bonds Initiative’s (Climate Bonds) commitment to fostering a global economy that is financially sound and environmentally sustainable. Climate Bonds sector criteria influence international standards and establish best practice guidance, enabling entities globally to reference the sector criteria in their transition finance instruments. The strategic partnership can unlock the transformative potential of robust and credible sustainable investments.”

Prof. Dr. Sven Bienert at CRREM: “CRREM is thrilled to join forces with USGBC, GBCA, BRE, and the rest to deliver this guide for sustainable finance. These various rating tools are essential for verifying and implementing measures to address the urgent need to decarbonize and retrofit assets in alignment with our 1.5°C commitments.”