InfraCredit leads by example as it certifies its head office to the EDGE Advanced building standard.
Project Name | InfraCredit Office Building |
Developer | InfraCredit Nigeria |
Location | Lagos, Nigeria |
Building Type |
Offices |
Total Floor Area Certified | 523.54 sqm |
Certification Date | February 2024 |
Savings achieved: |
58% Energy savings; 44% Water Savings, 53% Less embodied energy in materials |
Award Achieved | EDGE Advanced |
Project Overview
InfraCredit Nigeria operates as a specialised infrastructure credit guarantee institution. Established in 2017, InfraCredit provides local currency guarantees to enhance the credit quality of debt instruments issued to finance creditworthy infrastructure assets in Nigeria that conform with its eligibility criteria.
InfraCredit’s mission is to enhance private sector investment in infrastructure projects in Nigeria by providing guarantees that reduce the credit risk associated with such investments. Today, with a current capital base of $198 million to provide guarantees, InfraCredit focuses on projects in a range of sectors including: agriculture, renewable energy, waste management, water distribution, social infrastructure, telecoms and water distribution.
InfraCredit’s work is vital to improve the resilience of infrastructure in Nigeria, as well as helping Nigeria reach its emission reduction goals. Indeed, in 2019/2020, an average USD 1.9 billion per year of public and private capital was invested in climate-related activities in Nigeria. This is only 11% of the estimated USD 17.7 billion needed annually to meet the conditional Nationally Determined Contribution (NDC) target of reducing emissions 47% below business-as-usual by 2030.
Recognising the importance of funding climate resilient infrastructure projects, InfraCredit turned to looking at the environmental impact of their own buildings and decided to certify their Head Office to the EDGE Advanced standard. The InfraCredit team used the EDGE App to help them to validate existing energy efficiency efforts and identify areas for improvement. The building achieved an impressive score of 58% energy savings, 44% water savings and 53% less embodied carbon in materials. These improvements equate to an over 12 tons of CO2 saved annually compared to a local basecase.
The ESG team at InfraCredit worked tirelessly to transform the building into a modern and resource efficient workspace. Some of the measures that helped the InfraCredit achieve the certification was through replacing halogen lighting bulbs to a more energy efficient LED exterior lighting. Onsite are a range of solar panels that account for 40% of the building’s energy use. Achieving the water resource required major retrofitting from the InfraCredit team. They reached the water savings requirements through installation of water efficient, showerheads, faucets in bathrooms and kitchens as well as more efficient water closets. The InfraCredit building reached the embodied carbon requirement through the reuse of existing floor and roof slabs, walls and window frames.
The project was audited by SGS Ghana. As the world’s leading inspection, verification, testing and certification company, SGS is recognised as the global benchmark for quality and integrity. With more than 89,000 employees, SGS operates a network of more than 2,600 offices and laboratories around the world. SGS’s reputation for independence, excellence and innovation has established the company as the market leader in providing services that improve efficiency, reduce risk and deliver competitive advantages for customers.
Why EDGE?
This certification reflects InfraCredit’s unwavering commitment to integrating environmental, social, and governance (ESG) considerations into their operations and environmental structure. It also underscores their dedication to creating workspaces that are not only efficient and resource-conscious but also conducive to the well-being of their people and the broader community. They are ensuring their guaranteed projects are climate-aligned and leading by example in the transition to a greener economy and planet. As part of InfraCredit’s clean energy transition strategy, they aim to be net zero by 2040. This EDGE Certification milestone acts as a stepping stone towards reaching that goal.
Commenting on the EDGE certification, Chinua Azubike, CEO of InfraCredit said: “We are delighted to receive the EDGE Certification, and this reiterates our commitment to sustainable practices, not just across our projects and transaction cycles but by also exemplifying our stance on green housing and sustainability across Africa. The accomplishment reinforces InfraCredit’s dedication to backing climate action efforts, demonstrating its adherence to global standards and its capacity to attract domestic institutional investors for projects focused on combating climate change and fostering sustainable development.”
What’s Next?
This is just the start for InfraCredit, as they continue to make a positive environmental and social impact in Nigeria and reach their net zero goals. InfraCredit’s affordable green housing programme focuses on not only providing affordable living spaces in the region, but also requires that housing projects are climate resilient and resource efficient. As part of this programme, they have made the commitment that 85% of projects within the programme are EDGE Certified, with some housing developments already in the EDGE certification process. They are training team members within the programme to become EDGE Experts to support clients who are undergoing this programme.
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