On 5 October 2016, the Green Business Certification Inc. (GBCI) and the Environmental Defense Fund (EDF) announced a strategic vision to work together to develop, deliver and promote the Investor Confidence Project (ICP) as the premier global underwriting standard for energy efficiency projects. ICP will join GBCI’s portfolio of credentials and certifications, and the organisations will cooperate to accelerate investment in energy efficiency.
The announcement follows the rapid rise in the adoption of the ICP system, including its certification for Investor-Ready Energy Efficiency™ (IREE) projects in the buildings sector, with successful programmes and pilots both in the United States and Europe.
“The world’s buildings account for about 40 percent of all energy use, and, in major cities like New York and London, that figure as much as doubles. What’s more, up to half of this energy is wasted,” said Andy Darrell, chief of strategy, Global Energy and Finance at Environmental Defense Fund. “ICP offers a system for investors and developers to access the trillion dollar energy efficiency market, which remains largely untapped and is key to curbing climate change. Our partnership with GBCI builds on ICP’s momentum, mobilising capital to finance efficiency and cutting harmful pollution around the world.”
ICP works to transform the energy efficiency market by increasing confidence in the financial and environmental performance of building retrofits. It offers investors and developers a standardised roadmap to assess risk and deliver on project results by optimising performance and monitoring the outcome of energy efficiency investments to generate financial savings. By streamlining transactions and increasing the reliability of projected energy savings through its IREE certification, ICP reduces overhead costs to bring energy efficiency projects to market.
For further information, please visit the relevant EDF webpage at the link below.