Shriram Housing Finance has partnered with International Finance Corporation (IFC) to launch an affordable green housing lending product for self-constructed homes. IFC is a member of World Bank.
The project will deploy IFC’s excellence in design for greater efficiency certification tool for the affordable self-construction segment customers and impact monitoring tool for reporting of green affordable housing.
The project will deploy IFC’s Excellence in Design for Greater Efficiency (EDGE) certification tool for the affordable self-construction segment customers and impact monitoring tool (CAFI) for reporting of green affordable housing.
IFC will provide training and capacity building for the housing finance company’s teams on the principles and applications of the EDGE software, standards, and certification system.
The EDGE certification will help the company identify homes that focus on reducing their environmental footprint with at least 20% savings in energy, water and embodied energy materials, a press release said on Tuesday.
The training will support the housing finance company in promoting construction of green self-built houses among its potential customers and assessing green components in constructed units for green certification.
“We believe that with the rising cost of living, energy-efficient homes are the way forward. Through the partnership with IFC, we intend to build the foundation for an eventual self-sustaining housing finance ecosystem for climate-smart, affordable homes,” Ravi Subramanian, managing director and chief executive officer said.