AREIT and Ayala Land secure the Philippines' largest EDGE Zero Carbon certification for office buildings! A monumental step towards a greener future.
ENVIRONMENT
AREIT, Inc., a real estate investment trust subsidiary of Ayala Land, was recognized with the prestigious EDGE Zero Carbon Certification for a suite of eight office buildings that encompass a total of 354,000 square meters. This accolade positions Ayala Land and AREIT as the proprietors of the most extensive collection of EDGE Zero Carbon certified office spaces in the Philippines.
The Excellence in Design for Greater Efficiencies (EDGE) certification is a globally recognized green building standard developed by the International Finance Corporation (IFC), which is part of the World Bank Group. Achieving the EDGE Zero Carbon level signifies that a property has successfully offset its carbon emissions by adopting renewable energy solutions. To qualify, buildings must achieve at least 40% in energy savings, 20% in water savings, and a 20% reduction in the carbon embodied in building materials.
Among the properties honored with this certification are Glorietta 1 and 2 Corporate Center, Solaris One, McKinley Exchange Corporate Center located in Makati, and Vertis North Corporate Centers 1, 2, and 3 in Quezon City, along with The 30th Corporate Center in Pasig. These buildings have demonstrated exemplary performance with a 45.33% increase in energy efficiency, 49.07% in water savings, and a remarkable 61.88% reduction in the carbon embodied in materials.
Mariana Zobel de Ayala, Senior Vice President and Group Head for Leasing and Hospitality at Ayala Land, Inc., Director of AREIT, Inc., and Executive Director of Ayala Corporation, expressed the organization's dedication to environmental sustainability, stating, “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.”
In a move to further their environmental goals, Ayala Land and AREIT entered into a Memorandum of Understanding (MOU) with the International Finance Corporation in September 2023. This partnership aims to expand their EDGE Zero Carbon certified office spaces to 1.5 million square meters by 2025, which would establish the largest such portfolio in the Philippines.
Jean-Marc Arbogast, IFC Country Manager for the Philippines, praised Ayala Land and AREIT for their achievements, remarking, “We commend Ayala Land and AREIT 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.”
To date, Ayala Land, Inc. and AREIT, Inc. have transitioned 88% of their office portfolio to renewable energy sources. This significant milestone covers 1.2 million square meters of gross leasing area, helping their tenants achieve their Environmental, Social, and Governance (ESG) goals.
