The World Bank’s IFC is providing $2 billion for sustainable energy project globally To underline the dramatic increases in power consumption among developing countries, Vietnam posted a four-fold increase in just a decade to 2008 according to World Bank data and now faces significant power shortage issues. Construction is among the most energy-intensive industries, accounting for 36 per cent of the nation’s total annual energy consumption. Therefore, the sector’s improved energy efficiency is vital to helping energy saving in Vietnam. International Finance Corporation (IFC), a member of the World Bank Group, is helping the country tap this huge potential by developing energy efficient, green buildings. To achieve this, it is supporting the Ministry of Construction to enhance the implementation of the Energy Efficiency Code for Buildings, which has been revised to become more technically and economically feasible to implement. The Code is expected to save 15 per cent of energy consumption on every floor square metre.“Financing energy efficiency and green buildings is not only vital for a sustainable future, but also a smart business approach,” said IFC’s Asia head of Climate Finance William Trant Beloe. “This is a sustainable development trend and banks that develop this financial product will have an… Read full this story
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