Cover (Photo: NEO)

A world first: NEO’s real estate portfolio has been certified by the International Finance Corporation’s with an EDGE Zero Carbon certification, a fantastic step forward for sustainability

A climate crisis is no longer a mere possibility; it is in fact, a reality taking place as we speak. But while its effects are devastating, there is hope for mitigation.

Every single person has a responsibility to Mother Earth, and so much more does a corporation need to have that kind of accountability. This is why NEO, a real estate developer, owner, and manager, has chosen to devote itself towards a sustainable ethos that benefits all of workers, businesses, and environment. Just recently, they reached a global milestone by becoming the world's first real estate portfolio to become certified by the International Finance Corporation as EDGE Zero Carbon. The retrofit plans for seven of its office buildings were verified by EDGE partner, SGS-Sintali in October 2021, decades before the company's original goal of net zero by 2030. 

"Net zero is far from simple, but it's realistic and possible," says Gie Garcia, Managing Director of Property Management at NEO. "Net zero pledges are achievable by accompanying them with deep management commitment and strategic policy structures. If we at NEO can do this, I'm sure all our fellow owners, developers, and managers can also make the commitment." 

Read more: Emma Marcha Imperial On Providing And Building Sustainable Homes

Tatler Asia
Above (Photo: NEO)

EDGE, a green building standard and rating system, was first developed as a pathway for existing establishments to achieve zero carbon. To be certified, companies must undergo rigorous processes: including verification of retrofit designs and proof that their energy sources from the previous year is from renewable sources and/or carbon offsets. After the retrofit is completed (usually within three years), the building will undergo final certification. "NEO’s achievement sets a precedent," says Director and Global Head of Climate Business at IFC. "Developers with existing buildings should raise their climate ambitions toward improving returns for their investors and increasing the value of their assets while generating positive outcomes for the environment.”

For NEO, their buildings are projected to have a 41-49 per cent energy savings. Their sources of power are also produced from "Cleanergy" portfolio of Aboitiz Power Corporation. For the past few years, all their buildings have also been certified as "green buildings" under BERDE and were also awarded by the Department of Energy (DOE) with Energy Efficiency Awards. 

Raymond Rufino is the CEO of NEO, the biggest developer and manager of office buildings in Bonifacio Global City (BGC). The company is also the Philippines’ Top Green Developer and the first company in the world to be certified as EDGE Zero Carbon for all their buildings by the IFC - International Finance Corporation. NEO is also the first office portfolio in Southeast Asia to achieve the WELL Health-Safety Seal. Its entire portfolio is certified 5 Stars under BERDE (Building for Ecologically Responsive Design Excellence), the country’s national voluntary green building rating tool.

Rufino is part of the Philippine Green Building Council (PhilGBC) and the Urban Land Institute (ULI).

“The severity of our current climate crisis requires a commensurate response and commitment from real estate owners, developers, and managers: net zero. This is a difficult and ambitious commitment for NEO as we are a real estate company based in an emerging market. However, we firmly believe that we can and must play our part in this global collective effort,” Rufino said.

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