Industry experts have called on professionals in the building and construction sectors to embrace green building practices to secure sustainable financing for large-scale projects. The message was a key highlight at the Ecobank Design and Build Expo, which concluded last week in Lagos.
Green building, also known as sustainable building, focuses on environmentally responsible and resource-efficient construction practices throughout a structure’s lifecycle—from design and construction to operation, maintenance, and demolition.
During his presentation on “Sustainable Financing,” Bolaji Balogun, CEO of Chapel Hill Denham, underscored the financial advantages of green buildings. He noted that such projects attract lower-cost capital and are increasingly favored by multinational corporations.
“The world is shifting towards green buildings,” Balogun stated. “These structures, especially those with EDGE (Excellence in Design for Greater Efficiencies) certification, are energy-efficient, environmentally friendly, and offer reduced operating costs. This makes them highly attractive to investors seeking sustainable options.”
He also highlighted alternative financing mechanisms, such as Sukuk, blue financing, and gender-focused funding, urging organizations to leverage capital and bond markets for green initiatives.
Godwin Tapela, Senior Investment Officer at the International Finance Corporation (IFC), elaborated on the EDGE certification system, an IFC innovation designed to minimize the environmental footprint of buildings in emerging markets. Tapela reaffirmed IFC’s commitment to providing sustainable financing for green projects and affordable housing.
The five-day expo, themed “Building Nigeria Together,” ran from November 27 to December 1, 2024, at the Ecobank Pan African Centre (EPAC) in Victoria Island, Lagos. The event hosted over 60 exhibitors showcasing innovations in architecture, construction, engineering, interior design, and household appliances.
Former President Chief Olusegun Obasanjo GCFR toured the expo’s pavilions, commending exhibitors for their high-quality displays and commitment to sustainable practices.
Global brands such as SABA Steel, Coleman Wire & Cables, Dulux Paints, ITB Nigeria Limited, and Mota Engil Nigeria participated, presenting cutting-edge trends and sustainable solutions.
The Ecobank Design and Build Expo has become a platform for promoting innovation and eco-friendly practices in Nigeria’s construction industry, aligning with global trends and sustainable development goals.