Ayala Land Inc. and its real estate investment trust AREIT Inc., reported of having the largest EDGE (Excellence in Design for Greater Efficiencies) Zero Carbon certified office portfolio in the Philippines after eight of their buildings were certified.
In a disclosure to the Philippine Stock Exchange (PSE), ALI said AREIT received certification for eight office buildings comprising 354,000 square meters.
EDGE is an international green building certification and an innovation of the International Finance Corporation (IFC), the private sector arm of the World Bank Group.
EDGE Zero Carbon is the highest level of EDGE certification granted 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 were 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.
The certifications were awarded on account of a 45.33 percent improvement in energy efficiency, 49.07 percent in water, and 61.88 percent in embodied carbon material reduction.
“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 Senior Vice President and Group Head for Leasing and Hospitality, Ayala Corporation Executive Director, and AREIT Director Mariana Zobel de Ayala.
Last September 2023, Ayala Land and AREIT signed an MOU with the International Finance Corporation to solidify their commitment to accelerating the transition to net zero.
Under this agreement, ALI and AREIT aim to achieve EDGE Zero Carbon across 1.5 million square meters of office space by 2025, establishing the Philippines’ largest EDGE Zero Carbon office portfolio.
"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 objectives.