Watch the replay

This event took place on November 11, 2021

Read the transcript

00:12 [Elleanor Robins]: Hello, to all.
00:14 I'm delighted to welcome you to this webinar, Moving Cities to a Cleaner Future.
00:20 My, my name is Elleanor Robins, and I'm a Senior Investment Officer at IFC, the International
00:25 Finance Corporation. IFC is a member of the World Bank Group, and it's the largest global
00:29 development finance institution focusing on the private sector in developing countries.
00:33 [Elleanor Robins]:
00:35 In our new climate action plan, the World Bank Group has identified five key systems for
00:39 reducing emissions and limiting the worst impacts of climate change. You won't be surprised to hear
00:45 that cities are one of these systems. They hold tremendous potential to reduce greenhouse gases,
00:50 whilst also unlocking major economic opportunities for their citizens.
00:53 [Elleanor Robins]: At IFC, we believe that prioritizing climate
00:56 smart growth is an investment opportunity, both for cities and for private sector partners. We've
01:01 invested that over 2.3 billion in climate smart city related projects to date. And of course,
01:05 we think the opportunity is much, much larger. In fact, in our recent report, Control-Alt-Delete,
01:11 A Green Reboot For Emerging Markets, we estimate that if cities in the 21 emerging markets that
01:16 we studied, prioritize climate smart growth in their post COVID recovery plans, they stand to
01:21 attract as much as $7 trillion in investments, and could create 144 million new jobs by 2030.
01:30 [Elleanor Robins]:
01:32 Now, we do know this won't be easy. Cities face many hurdles, and we know that multiple
01:37 elements really have to come together to achieve sustainable and green investment,
01:41 both in terms of policies, but also in terms of partnerships and perseverance. We do believe the
01:48 private sector capital and innovation can capitalize win-win solutions for cities.
01:52 And you'll hear about some really concrete examples of how that can happen today.
01:55 [Elleanor Robins]: But first, let me turn it over to
01:56 Alice Charles. Alice is the lead for Cities and Real Estate at the World Economic Forum. Alice,
02:02 thank you so much for joining us today. And thank you for helping us set the stage for this event.
02:05 [Alice Charles]: Thank you very much, Elleanor.
02:07 It's a pleasure to be here today, and be part of this stimulating conversation. I'm certainly
02:13 pleased to add my welcome and indeed, highlight the critical role that cities must play in
02:21 addressing climate change, and delivering climate resilience infrastructure around the world.
02:26 [Alice Charles]: Municipal governments must
02:29 balance development needs with crisis response and long term climate smart planning. Cities can't
02:36 tackle these challenges alone. They must leverage the private sector, innovators,
02:43 and financiers, but also they must be empowered by government.
02:47 [Alice Charles]: Cities can take various roles in
02:51 addressing climate change. That can be the role, for example, of regulator. They can raise the
02:57 bar in terms of minimum compliance. They can also pass incentives for green and resilient solutions,
03:05 and create development zones with the right mix of projects, so they can create a policy environment.
03:11 [Alice Charles]: Cities can also act as a project sponsor.
03:17 Cities engage, for example, in public-private partnerships,
03:21 to ensure that the services that they need to be provided, can be provided.
03:25 That can be in the area of housing, in transport, education,
03:29 utilities. So they can deliver green and resilient infrastructure through PPP mechanisms.
03:35 [Alice Charles]: They also can
03:37 act as a fundraiser of capital. So municipal governments, for example, should utilize
03:44 dedicated green financing for their budgets, especially when considering the growing evidence
03:50 that investors are willing to pay a premium for green financing structures, such as green bonds.
03:55 [Alice Charles]: Cities can also oversee multi-connected
04:00 systems. Cities must focus on long term planning and interconnectedness between sectors,
04:07 and oversee these departments. So one example is they, for example, can gather the multilevel of
04:14 governments, business, civil society, and academia, that need to be working together to
04:20 decarbonize our energy grid infrastructure, which often they may not have a primary
04:26 responsibility for it. But if they are to get to net-zero, they have a significant impact.
04:31 [Alice Charles]: Cities also, throughout their roles,
04:35 should partner with the private sector. They can leverage these relationships to avail of
04:41 the latest in terms of green standards, innovative practices, technical expertise, and green finance.
04:49 In today's event, you'll hear leading peer studies that will illustrate some of these roles,
04:56 highlighting the sectors with most pressing climate needs and the greatest opportunities.
05:02 [Alice Charles]: Each sector and each city will require a
05:06 tailored approach based on their particular local circumstances. We're confident that the examples
05:13 you'll hear today, are very much a call to action, and will inspire you on journey of transition.
05:21 I will now head back to Elleanor, for the Q&A section of the discussion with our panelists.
05:27 [Elleanor Robins]: Thank you so much,
05:28 Alice, for these opening remarks. Let's now dive in and turn to the first sector
05:32 that we're going to be discussing today, green, affordable, and resilient housing.
05:37 1.6 billion people are without adequate housing. And whilst there's been a building boom,
05:42 it's not incorporating sustainability considerations as fully as it could be.
05:46 [Elleanor Robins]: In fact, residential buildings now represent 18%
05:50 of energy related greenhouse gas emissions. To help us understand how housing can incorporate
05:57 green and resilient elements, yet still remain affordable, I'm absolutely thrilled to
06:03 introduce Emma Imperial, the President and CEO of Imperial Homes Corporation from the Philippines.
06:09 [Elleanor Robins]: Welcome, Emma. Really delighted to
06:11 have you with us for this exciting conversation. Perhaps we can jump right in and click off.
06:18 Please, could you just start by telling us a little bit about
06:21 your company that I believe you founded close to 40 years ago now, Imperial Homes Corporation?
06:26 [Emma Imperial]: Imperial Homes Corporation
06:28 is the Philippines first PropTech technology developer and the EDGE Champion for affordable
06:33 housing in the Philippines. We are building solar-powered resilient communities
06:39 that mitigate climate change and lift the standard living of the Filipinos. Our houses
06:45 are powered with solar, and built with [Conway 00:06:48] high performance concrete panels.
06:49 [Emma Imperial]: It's a Danish innovation, and it's connected with
06:54 innovative digital technologies. This one-of-a-kind innovation marks our market
07:00 differentiation. So it creates value and new demand for green homes in the Philippines.
07:07 To date, we have built about 20,000 homes, and 2,000 of them are actually eco-friendly.
07:17 In the next five years, we're going to be building 10,000 homes of these types.
07:21 [Elleanor Robins]: That's fantastic.
07:23 Thank you so much, Emma. What an amazing accomplishment already in this space,
07:28 and an inspiration I'm sure to many who are watching here today.
07:31 [Elleanor Robins]: Now, I also understand
07:33 that Imperial Homes has made two very significant pledges towards climate mitigate,
07:38 and also towards resilience. Could you tell us a bit about those commitments, please?
07:42 [Emma Imperial]: Back in 2014, when we
07:46 shifted our core business strategy from being a traditional developer to a green developer,
07:53 we knew that there was no other way of going green than fully committing ourselves to the vision of a
07:58 greener real estate. So Imperial Homes Corporation supports International Finance Corporation
08:05 in its zero carbon program, by pledging 100% of our development to have a net-zero environmental
08:14 impact by 2030. So we have committed about 300,000 square meters of zero carbon-ready buildings,
08:24 which we pledge for building resilience.
08:26 [Emma Imperial]: Now, we currently have about 75,000 square meters
08:31 under the design stage, while more than 200,000 square meters are under the construction stage.
08:38 So IFCS also awarded us with advanced EDGE certification because we achieved
08:44 the following energy efficiency ratings. For energy, we achieved 71%, 44% on water, and 64%
08:55 on materials. We are actually the first developer to reach this milestone, and it allowed us to
09:03 secure green financing for our home buyers, which transforms their lives for the better.
09:09 [Elleanor Robins]:
09:14 Thank you so much. Fascinating.
09:17 Could you talk us through why your company made the decision to really embrace green and
09:23 resilient construction? How did that come about, and what impact do you feel that it's having?
09:31 [Emma Imperial]: Addressing the pressing
09:35 issues on the housing backlogs and poverty and worsening climate change,
09:42 drives me in developing sustainable and resilient communities in my country.
09:47 I believe that renewable energy and sources and eco-friendly building materials are really
09:55 potent partners in creating a sustainable and realistic industry.
10:01 [Emma Imperial]: Both our solar solutions and
10:03 Conway high performance concrete panels, provide utility savings and higher property value. Solar
10:11 solutions actually saved between 30 to 75% on electricity cost. And with solar and net metering,
10:20 home buyers can save up to 1.9 million or $38,000 in 25 years,
10:27 giving them a yield of about 256% over their loan amortization.
10:33 [Emma Imperial]: So for these 550 units
10:38 in this net metered community, just for an example, a staggering of about 1.16
10:45 billion pesos or 23 million savings for 25 years is created for our home buyers.
10:53 And concrete panels, which is the high performance concrete panels, on the other hand, helps avoid
11:00 unnecessary costs on medical expenses and home repairs due to their 14,000 PSI strength.
11:09 [Emma Imperial]: It makes our house resistant to deterioration,
11:14 fire, earthquake, typhoon, and disease-causing molds. So EDGE enables us to properly integrate
11:26 sustainable technologies into our planning and design, focusing on the following considerations,
11:34 like window opening for natural light and airflow, solar panels, faucets and fixtures to minimize
11:44 water consumption, and these high performance building materials.
11:48 [Emma Imperial]: The pandemic
11:51 actually serves as an eye-opener to many home buyers in my country, on the value and importance
11:57 of sustainable and resilient properties. The awareness and exposure of the market
12:04 to the challenges of the pandemic, prompts them to seek healthier, safer, and more economical homes,
12:12 resulting in increasing demand for properties with green features.
12:16 [Emma Imperial]: In fact, in a country and in our
12:21 company, the good news is really that 78% of the millennials are buying our homes.
12:30 These innovative technologies will provide them significant
12:34 utility savings and protection from the harsh effects of the pandemic and climate change.
12:40 [Elleanor Robins]:
12:43 Thank you so much for walking us through how in a really
12:47 practical way, this is a climate smart solution that's really a win-win for the private sector,
12:54 but also for home buyers and individuals and citizens. Really, really insightful. Thank you.
12:59 [Elleanor Robins]: Perhaps turning to the enabling environment
13:04 and policies, how did public policies enable your work in green construction? Were there specific
13:13 elements there that helped you develop your green construction business?
13:17 [Emma Imperial]: Yes, definitely. At Imperial Homes, we advocate
13:23 for collaboration across different sectors and industries to solve the housing deficit in the
13:30 Philippines. Actually, it all started in the very strong support from Pag-IBIG Fund. This
13:38 is a government-owned corporation that provides affordable shelter financing for the Filipinos.
13:45 [Emma Imperial]: Pag-IBIG has been financing our houses with solar
13:49 solutions since 2015. Without this financing, solar won't fly for affordable housing market.
13:58 So today, home buyers prefer housing with solar solution,
14:03 because they know they can save on electricity cost for 25 years. Another government agency
14:11 here in our country is the Board of Investments.
14:13 [Emma Imperial]: They have also extended
14:15 income tax holiday and other fiscal incentives for Conway, our green building technology.
14:23 So in 2019, we were able to present a compelling case at the Energy Regulatory Commission.
14:32 This is the regulatory body for the electric power industry in the Philippines. As a result,
14:40 ERC issued a mended net metering program that allows home owners to export excess electricity
14:49 to the grid, making them not only consumers, but also producer of clean electricity as well.
14:57 [Emma Imperial]: So the other agency that's also creating
15:03 some waves now, is the National Home Mortgage Finance Corporation, NHMFC, who partner with IFC
15:14 in providing cheaper mortgage solutions through the BALAI BERDE program. As a matter of fact,
15:20 Imperial Homes is the first recipient of this program. So instead of paying between six to 8%
15:29 interest rates, our home buyers can now avail of a housing loan with an interest of as low as 3%.
15:37 [Emma Imperial]:
15:39 So let me share one great example. During the height of the pandemic last year,
15:45 one of our home owners reported that he only needed to pay an electricity bill of 30 cents,
15:52 which was already good for two months. So this is a fantastic savings in times of
16:01 pandemic. The women in the community have also started having their home-based businesses,
16:09 boosting their self-confidence and their family income.
16:12 [Emma Imperial]: So actually, we want success stories like this
16:17 in all the communities in our country. So I'm very active, calling on all government
16:24 bodies to join us in this advocacy. I also try to encourage all the Filipinos to make sustainable
16:32 agendas as their criterion in selecting their government leader, the future government leaders.
16:40 [Emma Imperial]: As you know, we will have election next year. So
16:45 it's very important that our leaders are very, very keen on sustainable and resilient
16:55 programs. Because I feel that a sustainable and resilient
17:00 future requires a whole of nation and a whole of society approach. It requires immediate action
17:06 from good leaders that we will be electing next year, and from everybody.
17:13 [Emma Imperial]: As more home buyers
17:15 get access to sustainable and resilient homes, the market will become more interested in investing in
17:21 eco-friendly houses, forcing real estate developers to switch to innovative technologies.
17:29 So yes, we started this advocacy for the green and affordable housing market in the Philippines,
17:36 but we believe that one company cannot really do it alone to solve this housing backlog
17:45 that really has haunted the Philippines for many years now.
17:48 [Emma Imperial]: So, such a reality calls
17:53 for a greater collaboration. We're doing this for the Philippines and the world, as well as for the
18:00 generations to come. We have the responsibility to secure a greener future for the young.
18:10 So I really would like to appeal now to the green investors and financing institutions,
18:19 to be more active in investing more funds in green communities worldwide.
18:24 [Emma Imperial]: We request a policy to
18:27 establish a special climate at business fund to support small and medium-sized companies,
18:34 regardless of the size of the project, which action is urgently needed today. So, thank you.
18:41 [Elleanor Robins]: Thank you so much, Emma, for
18:43 joining us today. And thank you for your insights and your real leadership in this important space.
18:49 Now, we know that the need for climate smart investments in water and sanitation is also
18:54 great. As much as 36% of the global population lives in water-scare areas.
18:59 [Elleanor Robins]: And this proportion is
19:00 expected to rise to 55% by 2050. So I'm delighted to say that our next speaker is Teresa Vernaglia,
19:07 the CEO of BRK Ambiental, a leading water and sanitation company in Brazil.
19:12 Welcome, Teresa. We're thrilled to have you with us today.
19:15 [Teresa Vernaglia]:
19:17 Thank you, Elleanor. It's a pleasure to be here with you.
19:19 [Elleanor Robins]:
19:21 Thank you. Could I ask you to please start by introducing your company to our audience, and
19:26 telling us how BRK is integrating climate change mitigation and adaptation in its operations?
19:32 [Teresa Vernaglia]: Okay. Perfect. So BRK is one of the largest water
19:38 and wastewater platform with a national wide scale in Brazil. We operate in 13 states, more than 100
19:47 municipals, and serving 60 million people. And we were, Elleanor, the first private company
19:55 to service a full state in Brazil, Tocantins in the North Region, with 1.5 million inhabitants.
20:04 [Teresa Vernaglia]: We also operate the oldest water and
20:07 wastewater concession in Brazil. That's Limeira, in the State of São Paulo, since 1995. And then we
20:17 won the first concession of water and wastewater after the approval of the new regulatory framework
20:25 in the metropolitan region of Alagoas, in the Northeast of Brazil, in last September in 2020.
20:32 [Teresa Vernaglia]: And the investments in sanitation
20:35 is fully connected to the development of climate change agenda, Elleanor. According to the report,
20:43 World Energy Outlook 2020 from the International Energy Agency,
20:49 the water and wastewater industry accounts for 4% of the total global electricity
20:56 consumption. On the other hand, if the water and wastewater sector adopt measures to install
21:04 energy recovery for biogas, would enable itself to generate over 50% more electricity than they need.
21:14 [Teresa Vernaglia]: Today, only 6% of
21:17 the current wastewater process is used to generate electricity. So in a sense, at BRK,
21:27 we have set a target of 90% of our electricity consumption coming from renewable source,
21:38 which we will achieve by the end of this year, expanding our [inaudible] plans. And furthermore,
21:47 another climate issue that water and wastewater should address, is the greenhouse gas emission
21:55 from the wastewater treatment, especially the methane,
22:02 which is the highest warming potential. 25 times more in comparison to the carbon dioxide.
22:10 [Teresa Vernaglia]: In BRK,
22:12 we are implementing high efficiency wastewater planting. We are using a state-of-the-art
22:19 technology from Holland, that's Nereda, that reduce the methane emission of around 90%.
22:29 We already have installed three of these plants in our operations, and other eight we will stand
22:37 up to 2026. And we are also committed to reduce GHG emission from sludge.
22:46 [Teresa Vernaglia]: This sludge disposed in land fills
22:52 has a high emission of methane. And in BRK, we are implementing two projects to drive the sludge,
23:02 opening opportunities to reintroduce it for the steel mill and fertilizer industries.
23:10 And to conclude, our love for these projects together,
23:16 have a GHG mitigation potential of around 2.3 million tons of CO2 in our operations,
23:26 which represents 10% reduction until 2025, 3% until 2030. And we are targeting setting BRK
23:40 as a carbon-neutral company up to 2040. So we have a lot of things going on here.
23:47 [Elleanor Robins]: Wow, you certainly do. Thank you, Teresa. Really
23:51 interesting, and how inspiring and ambitious your plans are. And clearly, you're already doing a
23:58 lot to realize those. Really interesting. Thank you. You also clearly have an incredible reach in
24:05 Brazil, as you've outlined. Could you talk to us a little bit about the impact of your operations?
24:12 [Teresa Vernaglia]: Ah, yes, Elleanor. Water
24:15 and wastewater sector, it's fantastic. We have huge purpose and impact in the life of people.
24:24 And the sanitation projects are directly connected to the reduction of waterborne disease.
24:34 One of our concessions, Uruguaiana, that is a city with 130,000 inhabitants
24:42 in the South Region of Brazil, in the State of Rio Grande do Sul.
24:45 [Teresa Vernaglia]: It's a good example of that. We have invested
24:50 around $76 million between 2011 and 2020 in Uruguaiana, reaching universalization
25:02 of the access to wastewater and water. And at the same period, we reduced the accurate
25:12 diarrhea incident in children from zero to five years, from 3,000 in 2011, to 100 cases in 2018.
25:26 [Teresa Vernaglia]: In other concessions, in Palmas,
25:29 in another concession in Palmas, Palmas is a city in the State of Tocantins in the North Region of
25:36 Brazil, with more than 300,000 inhabitants. And the investments carried out there by BRK between
25:47 2000 and 2017, have led a 54% reduction of acute diarrhea cases after universalization.
26:00 [Teresa Vernaglia]: So these two cases,
26:02 this case of Uruguaiana and Palmas, reaffirm, confirm that all the studies have shown that each
26:12 dollar invested in sanitation saves other $4 in the public health system.
26:20 And the income generation, Elleanor, is also a positive externality of investment in sanitation.
26:28 One case that represents this reality is our newest concession in Alagoas State.
26:35 [Teresa Vernaglia]: That's in the Northeast of Brazil, with
26:40 amazing beaches, where we are serving 1.5 million inhabitants. We had started our operation last
26:50 September 2020. It's a concession of 35 years. And in one year, we have generated 2,000 jobs.
27:03 Furthermore, our social programs are oriented to promote the income and jobs generation,
27:12 and also focusing on diversity and inclusion.
27:15 [Teresa Vernaglia]: We have developed a program called [Portugese].
27:22 It's a program where we train socially vulnerable womens to become plumbers.
27:30 We have launched the first group in Recife, in the Northeast of Brazil, last year,
27:37 with Venezuelan refugees, and a second group now in Maceió, our newest concession, including
27:47 in addition to the Venezuela refugees, indigenous people from that regions.
27:52 [Teresa Vernaglia]: And now our plan is to scale up this project
27:57 to our operation across Brazil. And the beauty of this project is that we have already hired
28:06 more than 40% of these womens to work in our operations. And those that we didn't hire,
28:15 these womens can work in their communities, undertaking and generate income locally.
28:22 [Teresa Vernaglia]: And also, in a part partnership with a US NGO,
28:28 Water.org, we are offering micro credits for almost 4,000 families, of low income families, to
28:39 connect their homes in the sewage system, building toilets and water tanks. It's really a pleasure
28:49 to be part of this transformation in these sites where we are investing. It's really a pleasure.
28:59 [Elleanor Robins]:
29:00 Thank you, Teresa. Yeah. Transformational is certainly the word that was coming to my mind
29:05 as you were speaking, as well as really so impactful. Thank you. Thank you so much for
29:10 laying that out for us, and illustrating the important work that BRK is doing.
29:16 [Elleanor Robins]: So I'm going to move to a separate topic around
29:21 policies and enabling environment. I understand that there's been a recent law in Brazil that
29:28 has the opportunity to give a more prominent role to the private sector in the water and sanitation
29:33 sector. Could you talk to us a little bit about that, and any impact it's having on your business?
29:39 [Teresa Vernaglia]: Yes. In the last June 2020, Elleanor, after four
29:48 years of discussions, a new regulatory framework was approved by the Brazilian Congress. And with
29:56 this approval, investments in the order of $130 billion will be made necessary and possible,
30:08 up to 2033, till Brazil reach universalization of water and wastewater. Just to give you an idea,
30:20 nowadays, Brazil has 50% of the population, 100 million people without access to sewage.
30:29 [Teresa Vernaglia]: And we're still struggling,
30:32 having 35 million people without access to portable water, in an economy that's
30:40 among with the 10 largest in the world. That's the relevance of this new regulation.
30:47 And this volume of investments, this $130 billion to reach universalization by 2033,
30:55 represents around $10 billion per year. And since this new law was approved in June 2020,
31:06 $10 billion has already been committed by the private sector. And BRK is part of that amount.
31:17 [Elleanor Robins]: Thank you. Thank you for that,
31:18 Teresa. And such an important illustration, the role you're playing in terms of the
31:23 solutions that the private sector can bring to this really complex,
31:27 but so impactful sector. Thank you. Thank you for outlining that for us.
31:33 [Elleanor Robins]: Perhaps, to close our discussion today,
31:37 I'd like to hear if you have a particular call for action, and especially from public policy makers,
31:44 in terms of what more can be done regarding water and sanitation. And in particular at this time,
31:49 as the sector is seeking to address the challenge of climate change.
31:52 [Teresa Vernaglia]: Elleanor, it's possible,
31:56 as I mentioned in the cases of Uruguaiana and Palmas. In a period of five to 10 years,
32:03 to completely transform the health situation of a city, by bringing sanitation, exactly how it
32:11 happened in Uruguaiana, where we have reduced the cases of active diarrhea from 3,000 to 100
32:19 in seven years. And in addition, in addition, experimenting the growth of basic education index.
32:27 [Teresa Vernaglia]: So this city has a combination of a virtuous
32:32 effect, of a positive effect. At the same time we reduced the cases of a diarrhea from 3,000 to 100,
32:40 the city also performed an improvement in the basic education index that measured the quality
32:48 of education. Therefore, a country such as Brazil, where the state is still do not have investment
33:02 capacity to perform $10 billion of investment per year, in the next 10 years to reach
33:11 universalization, the private sector is our partner to overcome this challenge.
33:20 [Teresa Vernaglia]: The private sector
33:22 with expertise in operation, and the long term if you like, BRK, has the capability and can change
33:33 the reality of health, education, and economy, as we are observing in our concession, and especially
33:43 our newest concession in Alagoas where we are already generating more than 2,000
33:49 jobs. So my final message here is, it was a huge
33:57 achievement from the Brazilian government in approval of the new regulatory framework.
34:01 [Teresa Vernaglia]: From now, on it's important to keep moving
34:06 and bringing more options, new projects that enabling the private sector to invest and really
34:15 overcome the reality. I think that investing in infrastructure, and specifically in water and
34:21 wastewater, is an amazing political and social agenda for our Congress and for our country.
34:30 [Elleanor Robins]: Thank you, Teresa. I have no
34:32 doubt that our audience watching around the world, whether in different capacities as policy makers
34:38 and investors, will take great inspiration from what you've said, and hopefully come
34:42 away with some ideas of where and how things can really work. So thank you so much for providing
34:49 us with the details of your business and your operations. Really appreciate it.
34:56 [Teresa Vernaglia]: Elleanor, thank you
34:58 very much for the opportunity to share a little bit about our expertise and the opportunities,
35:05 and the beauty of investing in sanitation. So, thank you very much.
35:09 [Elleanor Robins]:
35:10 Now, to round off our conversation today, we're going to talk about a citywide perspective on
35:14 climate. And for this, I'm absolutely delighted to be joined by Is'haaq Akoon,
35:19 Senior Manager for Climate Change in the City of Ekurhuleni in South Africa.
35:22 [Elleanor Robins]: He's going to help us understand
35:24 how cities must focus on long term planning and also interconnectness between different sectors,
35:29 to create a comprehensive climate plan. Welcome, Is'haaq. Thank you so much for joining us today.
35:35 Please, could you tell us a little bit about your city, Ekurhuleni, and
35:39 its long term objectives related to climate change?
35:41 [Is'haaq Akoon]: The city of Ekurhuleni is the
35:43 fourth largest municipality in South Africa, with nine towns, 20 customer care centers,
35:48 a population of about 3.8 million people, which is spread across a total land area of 1,975
35:54 square kilometers, thus accounting for 28% of the provincial population. Commonly referred
36:00 to as the manufacturing hub of Gauteng, which services the City of Joburg and City of Tshwane.
36:05 [Is'haaq Akoon]: The long term
36:06 strategic priority of the city is to become a delivering, capable, sustainable city by 2055.
36:12 And much of this is underpinned by focusing on sustainable urban integration
36:16 and environmental wellbeing. The city is committed to addressing global climate change by both
36:21 reducing its greenhouse gas emissions and adapting to the impacts of local climate variability.
36:26 [Is'haaq Akoon]: These commitments were
36:28 formalized through various international platforms, including the Global Covenant
36:32 of Mayors, the Global Alliance for City Climate Leadership, and our membership to see C40 networks
36:37 for climate action within cities. The city has committed to building a more secure,
36:43 sustainable, and resilient future for Ekurhuleni, and has set targets to achieve this by 2030.
36:48 [Is'haaq Akoon]: As part of the Ekurhuleni Plus Challenge,
36:51 by 2030, these targets include clean energy, 25% clean energy mix, a mix between renewables
36:58 and energy efficiency, greenhouse gas emissions reduction by 20% within the city of Ekurhuleni.
37:06 Improvement in local food production and harnessing the agricultural potential of the
37:10 region, at least by 20% food consumed within the region is grown locally.
37:16 [Is'haaq Akoon]: Natural resource management, reverse the trend of
37:18 natural resource loss, by increasing fresh water security, watersheds and wetlands protection,
37:24 community based wetlands management, invasive species control, and natural species restoration,
37:29 a 50% reduction of waste within the city. And that's specifically diversion from landfalls,
37:36 including recycling and bioconversion.
37:39 [Is'haaq Akoon]: Smart sustainable communities,
37:41 by improving the livability and resilience within the built environment,
37:44 through adequate planning and well-designed infrastructure.
37:48 And then green workforce and an environmentally educated community. I think these are the
37:54 specific targets that we've set for the city, and we are really looking forward
37:58 to carrying out these targets, and ensuring that we achieve net-zero by 2050. Thank you.
38:05 [Elleanor Robins]: Thank you, Is'haaq. Really,
38:06 really comprehensive overview of all the different sectors that you're looking at. And
38:12 I know that your city partnered with IFC for the use of Apex.
38:16 [Elleanor Robins]: And Apex is a data-driven
38:18 cloud-based platform that IFC has the developed, and it helps cities identify
38:22 potential climate smart projects and develop a climate smart action plan.
38:26 Could you perhaps tell the audience today how Ekurhuleni used this tool?
38:31 [Is'haaq Akoon]: Great. Yeah. I think a fantastic opportunity
38:35 for us was given to us in 2020, when we began the collaboration with IFC to develop a Green Climate
38:42 Action Plan for the city. The Green Cities Action Plans seek to support the city of Ekurhuleni's
38:48 achievement in mitigation targets, and using sound data from Apex. The Green City Action
38:54 Plan provided a roadmap that could aid the city to become a resilient and carbon-neutral city region.
39:01 [Is'haaq Akoon]: The Green City Action Plan
39:04 prioritizes and quantifies the impacts of 20 selected solutions or measures,
39:08 refers to as measured, sorry, focusing on four key sectors, energy, water, waste, and transport.
39:15 Implementing these priority measures is expected to support a 23.7% greenhouse gas reduction.
39:21 That's around 3.4 million tons of carbon dioxide in the greenhouse gas emissions, by 2030.
39:27 [Is'haaq Akoon]: We had already worked closely
39:29 with stakeholders internally and within the city to develop a future vision for our city, as part
39:34 of our change strategy, including developing specific response plans for various municipal
39:40 departments that sought to reduce carbon emissions and adapt to climate change.
39:44 This was done in around 2017 and 2018. However, implementation was stagnant.
39:50 [Is'haaq Akoon]: And due to COVID-19, a lot of the
39:53 budgetary requirements that we had envisioned would come into effect, did not happen.
40:00 So using the IFC's Apex tool, we helped quantify and reprioritize our vision, both in terms of
40:06 the environmental impact and costs, and to explore policies and investments that drive and accelerate
40:12 implementation. Given that we had lost already a two-year or three-year time period.
40:16 [Is'haaq Akoon]: Apex also provided insights on possible payback
40:20 periods of our investments, in particular where actions supported greater resource efficiencies,
40:25 and therefore cost savings. I'm confident to say that now, we have a better understanding
40:30 of what immediate actions can be taken to reach our sustainability goals, and a financing model
40:36 that could help us get there. Thanks very much.
40:38 [Elleanor Robins]:
40:40 Thank you. Thanks, Is'haaq, for walking us through that. And perhaps you could give us a sense of how
40:47 now, the of Ekurhuleni intends to use the specific outputs that Apex has provided.
40:53 [Is'haaq Akoon]: Yeah. I think it's no
40:56 coincidence that the finalization of our Green Cities Action Plan comes at the same time as we
41:01 usher in a new elected local government. We have just gone to the polls on the 1st of November,
41:08 and the newly elected political officials offer their administrator or as their administration,
41:14 the opportunity to lobby support, realign service delivery, prioritizing resources,
41:19 and further ensure that we advance our communities to bold climate action.
41:23 [Is'haaq Akoon]: Through Apex, our greenhouse gas
41:26 calculations for each of the sectors were made. It also provided the scenario for what happens if
41:31 no change is made. So business as usual, versus an improved case, giving the city confidence in
41:37 our targets and the measures that would take us to a more resilient and climate proof future.
41:42 Much of the climate change commitments that we would require of a newly elected city government,
41:47 would be positively informed by the Green City's Climate Action plan, underpinned by Apex.
41:52 [Is'haaq Akoon]: The Green Cities Action
41:54 Plan details the various measures for the city, including city level policies, investments, and
42:00 planning strategies that can help the city meet these climate change mitigation and sustainability
42:05 targets, as I've alluded to earlier. As such, it has provided an implementation roadmap
42:10 while detailing areas where public and private climate related investments could be leveraged,
42:15 which can be influenced by city level policies and plans that we have control over as the city.
42:20 [Is'haaq Akoon]: In implementing the Green Cities
42:22 Action Plan, the city will integrate measures and targets into the city's development planning
42:27 process and budgeting processes, to support detailed planning and ultimately implementation.
42:32 In addition, the city will look at mobilizing and working with key partners and other stakeholders,
42:38 both in the public and private sector, to ensure that we get this work underway,
42:43 such as through urban planning, where we've got incentives
42:46 to catalyze action, where project paused for private sector to make investment.
42:50 [Is'haaq Akoon]: In addition to this year,
42:52 we've got independent power producers that are coming online within the city of Ekurhuleni that
42:56 will advance our renewable energy mix within the city, and our reliance on coal-generated power.
43:03 Further, to this year, we are looking at remodeling our
43:07 waste generation and waste land filling, and moving from what we call traditional
43:12 waste methods to an alternative waste treatment system, which would probably be underpinned by
43:17 newer technologies in incineration and assist with managing the waste of the city. Thanks, Elleanor.
43:25 [Elleanor Robins]: Thank you. Thank you, Is'haaq.
43:29 It's really striking how this is touching on so many different sub sectors within the city,
43:34 and how climate action does span across many different areas.
43:38 [Elleanor Robins]: And I'm wondering if
43:39 you can tell us a little bit more about that interconnectedness and how you went
43:44 about making sure that internally, within the city, the various departments were involved in
43:50 making this happen, and also externally, how you worked with other stakeholders.
43:54 [Is'haaq Akoon]:
43:55 Great. Yeah. I think it's always difficult with climate change, trying to get everybody
44:01 around the table that speaks the same language and understands the terminology the same way.
44:06 I think for the development of the GCAP, or the Green Climate Action Plan,
44:10 the city made use of nominated sector representatives to work with the IFC team
44:14 to ensure outcomes of the process reflected the city context and aligned with the city policies.
44:18 [Is'haaq Akoon]: So we essentially
44:20 went out to the different head of departments and got them to nominate specific individuals,
44:25 both with the technical background, as well as the management experience to ensure that we have the
44:30 related measures within the GCAP that would speak to the priorities of that department. We also had
44:37 built something within the city just prior to launching the GCAP, called the Resilience Forum,
44:44 as that was the best coordinating body for the municipality.
44:47 [Is'haaq Akoon]: Many of the representatives
44:49 that formed part of the Project Steering Committee for the GCAP, were represented in this
44:55 Resilience Forum. The GCAP then used this body to share the outcomes from the Apex,
45:00 and get input on the processes from the different city officials and the different line functions.
45:05 The final document was prioritized with the ... Sorry. The final document,
45:09 with the prioritized actions, were shared in this platform with all members for review and comment.
45:14 [Is'haaq Akoon]: The final action plan has
45:15 been reviewed internally and externally as well, to ensure alignment with all relevant national
45:21 and international best practices. We even had the opportunity to bounce it off our academia
45:26 colleagues within the province, as well as our provincial and national departments.
45:31 And then also the private sector within our business forums.
45:34 [Is'haaq Akoon]: The Green Cities
45:36 Action Plan is one of the pieces of the city's comprehensive approach to addressing climate
45:39 change and promoting sustainable development. Separate work is in progress that will elaborate
45:44 on the city's climate risks and resilience and adaptation actions, as well as extend
45:50 the strategy into the future within an eye on achieving net-zero emissions by 2050.
45:55 [Is'haaq Akoon]: The city is a member of C40,
45:57 which is a cohort of cities all working towards reaching carbon neutrality by 2050, through
46:02 implementation of various climate action plans. Through the involvement with C40, the city hopes
46:07 that the funding opportunities will be unlocked to help further finance the implementation of
46:12 the identified measures through partnering with other private and public sector partners. Thanks.
46:18 [Elleanor Robins]:
46:20 Thank you. Thanks, Is'haaq. Very, very interesting. And I'm sure also, having you
46:26 in your role as Senior Manager for Climate Change, being able to bring all of these parties together,
46:32 has been really, really critical. So thank you very much for that.
46:35 [Elleanor Robins]: Perhaps to end here our conversation,
46:40 an important question would be, what call to climate action would you extend to your peers
46:45 in city administrations around the world?
46:47 [Is'haaq Akoon]:
46:51 Thanks, Elleanor. Sorry. Yeah. I think the importance of working
46:56 with all aligned departments within the city, I think that's fundamental.
47:00 I think there's opportunities with having good, sound data, as was provided by the Apex tool to
47:06 promote your cause, to instill confidence within the system, to ensure that the city
47:13 works towards a better understanding of common issues and common problems.
47:18 [Is'haaq Akoon]: Further to that there,
47:20 I think it's important that the Ekurhulenis among the cities around the world that's undertaking
47:26 efforts to incorporate evidence-based assessments into their climate change planning,
47:31 and I think that's what Apex has offered us,
47:33 an opportunity to baseline a lot of the data and then further develop on that there going forward.
47:38 [Is'haaq Akoon]: Ensuring that we are reporting into different
47:41 platforms, the CDP platform for one, well quantified measures and actions that will then
47:48 enhance our city, build resilience, and ensure that we achieve the relevant targets set out.
47:53 [Elleanor Robins]: Thank you so much, Is'haaq. It's been a really
47:57 insightful conversation. And really bringing this citywide perspective has really helped us
48:03 round off this event today. Thank you. Thank you very much for joining us.
48:07 [Is'haaq Akoon]:
48:07 Fantastic. Thanks Elleanor, for your time. Appreciate the opportunity.
48:10 [Elleanor Robins]: Now, we could be talking about this
48:12 topic for a lot longer, but unfortunately, we're coming to the end of our time.
48:17 Whether you are coming from the private sector or the public sector, whether
48:21 you've been watching this as an investor, a policy maker, a developer, or simply and
48:25 perhaps most importantly, as a citizen, we do hope you enjoyed the conversation today.
48:29 [Elleanor Robins]: And we hope that it gave the
48:31 inspiration to know that incorporating mitigation and adaptation to climate change in cities
48:36 is possible and profitable. By prioritizing sustainability,
48:40 cities around the world can ensure that both environmental and economic
48:44 benefits are enjoyed by residents of today, and also residents of tomorrow.
48:47 [Elleanor Robins]: IFC is here to partner with you,
48:49 with our tools, advice, and finance, and hope to continue to work to advance this important agenda.
48:57 Thank you deeply, to all of our speakers, and thank you to all for joining us.

The IFC at COP26 | Moving Cities to a Cleaner Future

Follow the event on Twitter #ClimateActionWBG

Cities must play a critical role in addressing the causes of climate change and in preparing for resilience to climate effects.

Municipal governments must balance development needs with crisis response and long-term climate-smart planning. Cities can’t tackle these challenges alone; they must leverage private innovation and financing.

This event highlights the various roles that cities can play in addressing climate change: as regulators, project sponsors, fundraisers of capital, overseers of multi-connected systems, and as partners with the private sector, leveraging their relationship for green standards, innovation, technical expertise, and green finance. Case studies with speakers from around the world will illustrate each of these roles, highlight the sectors with some of the most pressing climate needs and with most opportunities, including green and resilient affordable housing, water and sanitation, and others.

Learn more

Speakers

Alice Charles

Lead - Cities, Infrastructure, and Urban Services; World Economic Forum
@alicecharles
Emma M. Imperial

President and CEO; Imperial Homes
Teresa Vernaglia

CEO, BRK Ambiental, Brazil
Is’haaq Akoon

Senior Manager Climate Change, City of Ekurhuleni, South Africa

Moderator

Elleanor Robins

Senior Investment Officer, IFC

Read the transcript

00:12 [Elleanor Robins]: Hello, to all.
00:14 I'm delighted to welcome you to this webinar, Moving Cities to a Cleaner Future.
00:20 My, my name is Elleanor Robins, and I'm a Senior Investment Officer at IFC, the International
00:25 Finance Corporation. IFC is a member of the World Bank Group, and it's the largest global
00:29 development finance institution focusing on the private sector in developing countries.
00:33 [Elleanor Robins]:
00:35 In our new climate action plan, the World Bank Group has identified five key systems for
00:39 reducing emissions and limiting the worst impacts of climate change. You won't be surprised to hear
00:45 that cities are one of these systems. They hold tremendous potential to reduce greenhouse gases,
00:50 whilst also unlocking major economic opportunities for their citizens.
00:53 [Elleanor Robins]: At IFC, we believe that prioritizing climate
00:56 smart growth is an investment opportunity, both for cities and for private sector partners. We've
01:01 invested that over 2.3 billion in climate smart city related projects to date. And of course,
01:05 we think the opportunity is much, much larger. In fact, in our recent report, Control-Alt-Delete,
01:11 A Green Reboot For Emerging Markets, we estimate that if cities in the 21 emerging markets that
01:16 we studied, prioritize climate smart growth in their post COVID recovery plans, they stand to
01:21 attract as much as $7 trillion in investments, and could create 144 million new jobs by 2030.
01:30 [Elleanor Robins]:
01:32 Now, we do know this won't be easy. Cities face many hurdles, and we know that multiple
01:37 elements really have to come together to achieve sustainable and green investment,
01:41 both in terms of policies, but also in terms of partnerships and perseverance. We do believe the
01:48 private sector capital and innovation can capitalize win-win solutions for cities.
01:52 And you'll hear about some really concrete examples of how that can happen today.
01:55 [Elleanor Robins]: But first, let me turn it over to
01:56 Alice Charles. Alice is the lead for Cities and Real Estate at the World Economic Forum. Alice,
02:02 thank you so much for joining us today. And thank you for helping us set the stage for this event.
02:05 [Alice Charles]: Thank you very much, Elleanor.
02:07 It's a pleasure to be here today, and be part of this stimulating conversation. I'm certainly
02:13 pleased to add my welcome and indeed, highlight the critical role that cities must play in
02:21 addressing climate change, and delivering climate resilience infrastructure around the world.
02:26 [Alice Charles]: Municipal governments must
02:29 balance development needs with crisis response and long term climate smart planning. Cities can't
02:36 tackle these challenges alone. They must leverage the private sector, innovators,
02:43 and financiers, but also they must be empowered by government.
02:47 [Alice Charles]: Cities can take various roles in
02:51 addressing climate change. That can be the role, for example, of regulator. They can raise the
02:57 bar in terms of minimum compliance. They can also pass incentives for green and resilient solutions,
03:05 and create development zones with the right mix of projects, so they can create a policy environment.
03:11 [Alice Charles]: Cities can also act as a project sponsor.
03:17 Cities engage, for example, in public-private partnerships,
03:21 to ensure that the services that they need to be provided, can be provided.
03:25 That can be in the area of housing, in transport, education,
03:29 utilities. So they can deliver green and resilient infrastructure through PPP mechanisms.
03:35 [Alice Charles]: They also can
03:37 act as a fundraiser of capital. So municipal governments, for example, should utilize
03:44 dedicated green financing for their budgets, especially when considering the growing evidence
03:50 that investors are willing to pay a premium for green financing structures, such as green bonds.
03:55 [Alice Charles]: Cities can also oversee multi-connected
04:00 systems. Cities must focus on long term planning and interconnectedness between sectors,
04:07 and oversee these departments. So one example is they, for example, can gather the multilevel of
04:14 governments, business, civil society, and academia, that need to be working together to
04:20 decarbonize our energy grid infrastructure, which often they may not have a primary
04:26 responsibility for it. But if they are to get to net-zero, they have a significant impact.
04:31 [Alice Charles]: Cities also, throughout their roles,
04:35 should partner with the private sector. They can leverage these relationships to avail of
04:41 the latest in terms of green standards, innovative practices, technical expertise, and green finance.
04:49 In today's event, you'll hear leading peer studies that will illustrate some of these roles,
04:56 highlighting the sectors with most pressing climate needs and the greatest opportunities.
05:02 [Alice Charles]: Each sector and each city will require a
05:06 tailored approach based on their particular local circumstances. We're confident that the examples
05:13 you'll hear today, are very much a call to action, and will inspire you on journey of transition.
05:21 I will now head back to Elleanor, for the Q&A section of the discussion with our panelists.
05:27 [Elleanor Robins]: Thank you so much,
05:28 Alice, for these opening remarks. Let's now dive in and turn to the first sector
05:32 that we're going to be discussing today, green, affordable, and resilient housing.
05:37 1.6 billion people are without adequate housing. And whilst there's been a building boom,
05:42 it's not incorporating sustainability considerations as fully as it could be.
05:46 [Elleanor Robins]: In fact, residential buildings now represent 18%
05:50 of energy related greenhouse gas emissions. To help us understand how housing can incorporate
05:57 green and resilient elements, yet still remain affordable, I'm absolutely thrilled to
06:03 introduce Emma Imperial, the President and CEO of Imperial Homes Corporation from the Philippines.
06:09 [Elleanor Robins]: Welcome, Emma. Really delighted to
06:11 have you with us for this exciting conversation. Perhaps we can jump right in and click off.
06:18 Please, could you just start by telling us a little bit about
06:21 your company that I believe you founded close to 40 years ago now, Imperial Homes Corporation?
06:26 [Emma Imperial]: Imperial Homes Corporation
06:28 is the Philippines first PropTech technology developer and the EDGE Champion for affordable
06:33 housing in the Philippines. We are building solar-powered resilient communities
06:39 that mitigate climate change and lift the standard living of the Filipinos. Our houses
06:45 are powered with solar, and built with [Conway 00:06:48] high performance concrete panels.
06:49 [Emma Imperial]: It's a Danish innovation, and it's connected with
06:54 innovative digital technologies. This one-of-a-kind innovation marks our market
07:00 differentiation. So it creates value and new demand for green homes in the Philippines.
07:07 To date, we have built about 20,000 homes, and 2,000 of them are actually eco-friendly.
07:17 In the next five years, we're going to be building 10,000 homes of these types.
07:21 [Elleanor Robins]: That's fantastic.
07:23 Thank you so much, Emma. What an amazing accomplishment already in this space,
07:28 and an inspiration I'm sure to many who are watching here today.
07:31 [Elleanor Robins]: Now, I also understand
07:33 that Imperial Homes has made two very significant pledges towards climate mitigate,
07:38 and also towards resilience. Could you tell us a bit about those commitments, please?
07:42 [Emma Imperial]: Back in 2014, when we
07:46 shifted our core business strategy from being a traditional developer to a green developer,
07:53 we knew that there was no other way of going green than fully committing ourselves to the vision of a
07:58 greener real estate. So Imperial Homes Corporation supports International Finance Corporation
08:05 in its zero carbon program, by pledging 100% of our development to have a net-zero environmental
08:14 impact by 2030. So we have committed about 300,000 square meters of zero carbon-ready buildings,
08:24 which we pledge for building resilience.
08:26 [Emma Imperial]: Now, we currently have about 75,000 square meters
08:31 under the design stage, while more than 200,000 square meters are under the construction stage.
08:38 So IFCS also awarded us with advanced EDGE certification because we achieved
08:44 the following energy efficiency ratings. For energy, we achieved 71%, 44% on water, and 64%
08:55 on materials. We are actually the first developer to reach this milestone, and it allowed us to
09:03 secure green financing for our home buyers, which transforms their lives for the better.
09:09 [Elleanor Robins]:
09:14 Thank you so much. Fascinating.
09:17 Could you talk us through why your company made the decision to really embrace green and
09:23 resilient construction? How did that come about, and what impact do you feel that it's having?
09:31 [Emma Imperial]: Addressing the pressing
09:35 issues on the housing backlogs and poverty and worsening climate change,
09:42 drives me in developing sustainable and resilient communities in my country.
09:47 I believe that renewable energy and sources and eco-friendly building materials are really
09:55 potent partners in creating a sustainable and realistic industry.
10:01 [Emma Imperial]: Both our solar solutions and
10:03 Conway high performance concrete panels, provide utility savings and higher property value. Solar
10:11 solutions actually saved between 30 to 75% on electricity cost. And with solar and net metering,
10:20 home buyers can save up to 1.9 million or $38,000 in 25 years,
10:27 giving them a yield of about 256% over their loan amortization.
10:33 [Emma Imperial]: So for these 550 units
10:38 in this net metered community, just for an example, a staggering of about 1.16
10:45 billion pesos or 23 million savings for 25 years is created for our home buyers.
10:53 And concrete panels, which is the high performance concrete panels, on the other hand, helps avoid
11:00 unnecessary costs on medical expenses and home repairs due to their 14,000 PSI strength.
11:09 [Emma Imperial]: It makes our house resistant to deterioration,
11:14 fire, earthquake, typhoon, and disease-causing molds. So EDGE enables us to properly integrate
11:26 sustainable technologies into our planning and design, focusing on the following considerations,
11:34 like window opening for natural light and airflow, solar panels, faucets and fixtures to minimize
11:44 water consumption, and these high performance building materials.
11:48 [Emma Imperial]: The pandemic
11:51 actually serves as an eye-opener to many home buyers in my country, on the value and importance
11:57 of sustainable and resilient properties. The awareness and exposure of the market
12:04 to the challenges of the pandemic, prompts them to seek healthier, safer, and more economical homes,
12:12 resulting in increasing demand for properties with green features.
12:16 [Emma Imperial]: In fact, in a country and in our
12:21 company, the good news is really that 78% of the millennials are buying our homes.
12:30 These innovative technologies will provide them significant
12:34 utility savings and protection from the harsh effects of the pandemic and climate change.
12:40 [Elleanor Robins]:
12:43 Thank you so much for walking us through how in a really
12:47 practical way, this is a climate smart solution that's really a win-win for the private sector,
12:54 but also for home buyers and individuals and citizens. Really, really insightful. Thank you.
12:59 [Elleanor Robins]: Perhaps turning to the enabling environment
13:04 and policies, how did public policies enable your work in green construction? Were there specific
13:13 elements there that helped you develop your green construction business?
13:17 [Emma Imperial]: Yes, definitely. At Imperial Homes, we advocate
13:23 for collaboration across different sectors and industries to solve the housing deficit in the
13:30 Philippines. Actually, it all started in the very strong support from Pag-IBIG Fund. This
13:38 is a government-owned corporation that provides affordable shelter financing for the Filipinos.
13:45 [Emma Imperial]: Pag-IBIG has been financing our houses with solar
13:49 solutions since 2015. Without this financing, solar won't fly for affordable housing market.
13:58 So today, home buyers prefer housing with solar solution,
14:03 because they know they can save on electricity cost for 25 years. Another government agency
14:11 here in our country is the Board of Investments.
14:13 [Emma Imperial]: They have also extended
14:15 income tax holiday and other fiscal incentives for Conway, our green building technology.
14:23 So in 2019, we were able to present a compelling case at the Energy Regulatory Commission.
14:32 This is the regulatory body for the electric power industry in the Philippines. As a result,
14:40 ERC issued a mended net metering program that allows home owners to export excess electricity
14:49 to the grid, making them not only consumers, but also producer of clean electricity as well.
14:57 [Emma Imperial]: So the other agency that's also creating
15:03 some waves now, is the National Home Mortgage Finance Corporation, NHMFC, who partner with IFC
15:14 in providing cheaper mortgage solutions through the BALAI BERDE program. As a matter of fact,
15:20 Imperial Homes is the first recipient of this program. So instead of paying between six to 8%
15:29 interest rates, our home buyers can now avail of a housing loan with an interest of as low as 3%.
15:37 [Emma Imperial]:
15:39 So let me share one great example. During the height of the pandemic last year,
15:45 one of our home owners reported that he only needed to pay an electricity bill of 30 cents,
15:52 which was already good for two months. So this is a fantastic savings in times of
16:01 pandemic. The women in the community have also started having their home-based businesses,
16:09 boosting their self-confidence and their family income.
16:12 [Emma Imperial]: So actually, we want success stories like this
16:17 in all the communities in our country. So I'm very active, calling on all government
16:24 bodies to join us in this advocacy. I also try to encourage all the Filipinos to make sustainable
16:32 agendas as their criterion in selecting their government leader, the future government leaders.
16:40 [Emma Imperial]: As you know, we will have election next year. So
16:45 it's very important that our leaders are very, very keen on sustainable and resilient
16:55 programs. Because I feel that a sustainable and resilient
17:00 future requires a whole of nation and a whole of society approach. It requires immediate action
17:06 from good leaders that we will be electing next year, and from everybody.
17:13 [Emma Imperial]: As more home buyers
17:15 get access to sustainable and resilient homes, the market will become more interested in investing in
17:21 eco-friendly houses, forcing real estate developers to switch to innovative technologies.
17:29 So yes, we started this advocacy for the green and affordable housing market in the Philippines,
17:36 but we believe that one company cannot really do it alone to solve this housing backlog
17:45 that really has haunted the Philippines for many years now.
17:48 [Emma Imperial]: So, such a reality calls
17:53 for a greater collaboration. We're doing this for the Philippines and the world, as well as for the
18:00 generations to come. We have the responsibility to secure a greener future for the young.
18:10 So I really would like to appeal now to the green investors and financing institutions,
18:19 to be more active in investing more funds in green communities worldwide.
18:24 [Emma Imperial]: We request a policy to
18:27 establish a special climate at business fund to support small and medium-sized companies,
18:34 regardless of the size of the project, which action is urgently needed today. So, thank you.
18:41 [Elleanor Robins]: Thank you so much, Emma, for
18:43 joining us today. And thank you for your insights and your real leadership in this important space.
18:49 Now, we know that the need for climate smart investments in water and sanitation is also
18:54 great. As much as 36% of the global population lives in water-scare areas.
18:59 [Elleanor Robins]: And this proportion is
19:00 expected to rise to 55% by 2050. So I'm delighted to say that our next speaker is Teresa Vernaglia,
19:07 the CEO of BRK Ambiental, a leading water and sanitation company in Brazil.
19:12 Welcome, Teresa. We're thrilled to have you with us today.
19:15 [Teresa Vernaglia]:
19:17 Thank you, Elleanor. It's a pleasure to be here with you.
19:19 [Elleanor Robins]:
19:21 Thank you. Could I ask you to please start by introducing your company to our audience, and
19:26 telling us how BRK is integrating climate change mitigation and adaptation in its operations?
19:32 [Teresa Vernaglia]: Okay. Perfect. So BRK is one of the largest water
19:38 and wastewater platform with a national wide scale in Brazil. We operate in 13 states, more than 100
19:47 municipals, and serving 60 million people. And we were, Elleanor, the first private company
19:55 to service a full state in Brazil, Tocantins in the North Region, with 1.5 million inhabitants.
20:04 [Teresa Vernaglia]: We also operate the oldest water and
20:07 wastewater concession in Brazil. That's Limeira, in the State of São Paulo, since 1995. And then we
20:17 won the first concession of water and wastewater after the approval of the new regulatory framework
20:25 in the metropolitan region of Alagoas, in the Northeast of Brazil, in last September in 2020.
20:32 [Teresa Vernaglia]: And the investments in sanitation
20:35 is fully connected to the development of climate change agenda, Elleanor. According to the report,
20:43 World Energy Outlook 2020 from the International Energy Agency,
20:49 the water and wastewater industry accounts for 4% of the total global electricity
20:56 consumption. On the other hand, if the water and wastewater sector adopt measures to install
21:04 energy recovery for biogas, would enable itself to generate over 50% more electricity than they need.
21:14 [Teresa Vernaglia]: Today, only 6% of
21:17 the current wastewater process is used to generate electricity. So in a sense, at BRK,
21:27 we have set a target of 90% of our electricity consumption coming from renewable source,
21:38 which we will achieve by the end of this year, expanding our [inaudible] plans. And furthermore,
21:47 another climate issue that water and wastewater should address, is the greenhouse gas emission
21:55 from the wastewater treatment, especially the methane,
22:02 which is the highest warming potential. 25 times more in comparison to the carbon dioxide.
22:10 [Teresa Vernaglia]: In BRK,
22:12 we are implementing high efficiency wastewater planting. We are using a state-of-the-art
22:19 technology from Holland, that's Nereda, that reduce the methane emission of around 90%.
22:29 We already have installed three of these plants in our operations, and other eight we will stand
22:37 up to 2026. And we are also committed to reduce GHG emission from sludge.
22:46 [Teresa Vernaglia]: This sludge disposed in land fills
22:52 has a high emission of methane. And in BRK, we are implementing two projects to drive the sludge,
23:02 opening opportunities to reintroduce it for the steel mill and fertilizer industries.
23:10 And to conclude, our love for these projects together,
23:16 have a GHG mitigation potential of around 2.3 million tons of CO2 in our operations,
23:26 which represents 10% reduction until 2025, 3% until 2030. And we are targeting setting BRK
23:40 as a carbon-neutral company up to 2040. So we have a lot of things going on here.
23:47 [Elleanor Robins]: Wow, you certainly do. Thank you, Teresa. Really
23:51 interesting, and how inspiring and ambitious your plans are. And clearly, you're already doing a
23:58 lot to realize those. Really interesting. Thank you. You also clearly have an incredible reach in
24:05 Brazil, as you've outlined. Could you talk to us a little bit about the impact of your operations?
24:12 [Teresa Vernaglia]: Ah, yes, Elleanor. Water
24:15 and wastewater sector, it's fantastic. We have huge purpose and impact in the life of people.
24:24 And the sanitation projects are directly connected to the reduction of waterborne disease.
24:34 One of our concessions, Uruguaiana, that is a city with 130,000 inhabitants
24:42 in the South Region of Brazil, in the State of Rio Grande do Sul.
24:45 [Teresa Vernaglia]: It's a good example of that. We have invested
24:50 around $76 million between 2011 and 2020 in Uruguaiana, reaching universalization
25:02 of the access to wastewater and water. And at the same period, we reduced the accurate
25:12 diarrhea incident in children from zero to five years, from 3,000 in 2011, to 100 cases in 2018.
25:26 [Teresa Vernaglia]: In other concessions, in Palmas,
25:29 in another concession in Palmas, Palmas is a city in the State of Tocantins in the North Region of
25:36 Brazil, with more than 300,000 inhabitants. And the investments carried out there by BRK between
25:47 2000 and 2017, have led a 54% reduction of acute diarrhea cases after universalization.
26:00 [Teresa Vernaglia]: So these two cases,
26:02 this case of Uruguaiana and Palmas, reaffirm, confirm that all the studies have shown that each
26:12 dollar invested in sanitation saves other $4 in the public health system.
26:20 And the income generation, Elleanor, is also a positive externality of investment in sanitation.
26:28 One case that represents this reality is our newest concession in Alagoas State.
26:35 [Teresa Vernaglia]: That's in the Northeast of Brazil, with
26:40 amazing beaches, where we are serving 1.5 million inhabitants. We had started our operation last
26:50 September 2020. It's a concession of 35 years. And in one year, we have generated 2,000 jobs.
27:03 Furthermore, our social programs are oriented to promote the income and jobs generation,
27:12 and also focusing on diversity and inclusion.
27:15 [Teresa Vernaglia]: We have developed a program called [Portugese].
27:22 It's a program where we train socially vulnerable womens to become plumbers.
27:30 We have launched the first group in Recife, in the Northeast of Brazil, last year,
27:37 with Venezuelan refugees, and a second group now in Maceió, our newest concession, including
27:47 in addition to the Venezuela refugees, indigenous people from that regions.
27:52 [Teresa Vernaglia]: And now our plan is to scale up this project
27:57 to our operation across Brazil. And the beauty of this project is that we have already hired
28:06 more than 40% of these womens to work in our operations. And those that we didn't hire,
28:15 these womens can work in their communities, undertaking and generate income locally.
28:22 [Teresa Vernaglia]: And also, in a part partnership with a US NGO,
28:28 Water.org, we are offering micro credits for almost 4,000 families, of low income families, to
28:39 connect their homes in the sewage system, building toilets and water tanks. It's really a pleasure
28:49 to be part of this transformation in these sites where we are investing. It's really a pleasure.
28:59 [Elleanor Robins]:
29:00 Thank you, Teresa. Yeah. Transformational is certainly the word that was coming to my mind
29:05 as you were speaking, as well as really so impactful. Thank you. Thank you so much for
29:10 laying that out for us, and illustrating the important work that BRK is doing.
29:16 [Elleanor Robins]: So I'm going to move to a separate topic around
29:21 policies and enabling environment. I understand that there's been a recent law in Brazil that
29:28 has the opportunity to give a more prominent role to the private sector in the water and sanitation
29:33 sector. Could you talk to us a little bit about that, and any impact it's having on your business?
29:39 [Teresa Vernaglia]: Yes. In the last June 2020, Elleanor, after four
29:48 years of discussions, a new regulatory framework was approved by the Brazilian Congress. And with
29:56 this approval, investments in the order of $130 billion will be made necessary and possible,
30:08 up to 2033, till Brazil reach universalization of water and wastewater. Just to give you an idea,
30:20 nowadays, Brazil has 50% of the population, 100 million people without access to sewage.
30:29 [Teresa Vernaglia]: And we're still struggling,
30:32 having 35 million people without access to portable water, in an economy that's
30:40 among with the 10 largest in the world. That's the relevance of this new regulation.
30:47 And this volume of investments, this $130 billion to reach universalization by 2033,
30:55 represents around $10 billion per year. And since this new law was approved in June 2020,
31:06 $10 billion has already been committed by the private sector. And BRK is part of that amount.
31:17 [Elleanor Robins]: Thank you. Thank you for that,
31:18 Teresa. And such an important illustration, the role you're playing in terms of the
31:23 solutions that the private sector can bring to this really complex,
31:27 but so impactful sector. Thank you. Thank you for outlining that for us.
31:33 [Elleanor Robins]: Perhaps, to close our discussion today,
31:37 I'd like to hear if you have a particular call for action, and especially from public policy makers,
31:44 in terms of what more can be done regarding water and sanitation. And in particular at this time,
31:49 as the sector is seeking to address the challenge of climate change.
31:52 [Teresa Vernaglia]: Elleanor, it's possible,
31:56 as I mentioned in the cases of Uruguaiana and Palmas. In a period of five to 10 years,
32:03 to completely transform the health situation of a city, by bringing sanitation, exactly how it
32:11 happened in Uruguaiana, where we have reduced the cases of active diarrhea from 3,000 to 100
32:19 in seven years. And in addition, in addition, experimenting the growth of basic education index.
32:27 [Teresa Vernaglia]: So this city has a combination of a virtuous
32:32 effect, of a positive effect. At the same time we reduced the cases of a diarrhea from 3,000 to 100,
32:40 the city also performed an improvement in the basic education index that measured the quality
32:48 of education. Therefore, a country such as Brazil, where the state is still do not have investment
33:02 capacity to perform $10 billion of investment per year, in the next 10 years to reach
33:11 universalization, the private sector is our partner to overcome this challenge.
33:20 [Teresa Vernaglia]: The private sector
33:22 with expertise in operation, and the long term if you like, BRK, has the capability and can change
33:33 the reality of health, education, and economy, as we are observing in our concession, and especially
33:43 our newest concession in Alagoas where we are already generating more than 2,000
33:49 jobs. So my final message here is, it was a huge
33:57 achievement from the Brazilian government in approval of the new regulatory framework.
34:01 [Teresa Vernaglia]: From now, on it's important to keep moving
34:06 and bringing more options, new projects that enabling the private sector to invest and really
34:15 overcome the reality. I think that investing in infrastructure, and specifically in water and
34:21 wastewater, is an amazing political and social agenda for our Congress and for our country.
34:30 [Elleanor Robins]: Thank you, Teresa. I have no
34:32 doubt that our audience watching around the world, whether in different capacities as policy makers
34:38 and investors, will take great inspiration from what you've said, and hopefully come
34:42 away with some ideas of where and how things can really work. So thank you so much for providing
34:49 us with the details of your business and your operations. Really appreciate it.
34:56 [Teresa Vernaglia]: Elleanor, thank you
34:58 very much for the opportunity to share a little bit about our expertise and the opportunities,
35:05 and the beauty of investing in sanitation. So, thank you very much.
35:09 [Elleanor Robins]:
35:10 Now, to round off our conversation today, we're going to talk about a citywide perspective on
35:14 climate. And for this, I'm absolutely delighted to be joined by Is'haaq Akoon,
35:19 Senior Manager for Climate Change in the City of Ekurhuleni in South Africa.
35:22 [Elleanor Robins]: He's going to help us understand
35:24 how cities must focus on long term planning and also interconnectness between different sectors,
35:29 to create a comprehensive climate plan. Welcome, Is'haaq. Thank you so much for joining us today.
35:35 Please, could you tell us a little bit about your city, Ekurhuleni, and
35:39 its long term objectives related to climate change?
35:41 [Is'haaq Akoon]: The city of Ekurhuleni is the
35:43 fourth largest municipality in South Africa, with nine towns, 20 customer care centers,
35:48 a population of about 3.8 million people, which is spread across a total land area of 1,975
35:54 square kilometers, thus accounting for 28% of the provincial population. Commonly referred
36:00 to as the manufacturing hub of Gauteng, which services the City of Joburg and City of Tshwane.
36:05 [Is'haaq Akoon]: The long term
36:06 strategic priority of the city is to become a delivering, capable, sustainable city by 2055.
36:12 And much of this is underpinned by focusing on sustainable urban integration
36:16 and environmental wellbeing. The city is committed to addressing global climate change by both
36:21 reducing its greenhouse gas emissions and adapting to the impacts of local climate variability.
36:26 [Is'haaq Akoon]: These commitments were
36:28 formalized through various international platforms, including the Global Covenant
36:32 of Mayors, the Global Alliance for City Climate Leadership, and our membership to see C40 networks
36:37 for climate action within cities. The city has committed to building a more secure,
36:43 sustainable, and resilient future for Ekurhuleni, and has set targets to achieve this by 2030.
36:48 [Is'haaq Akoon]: As part of the Ekurhuleni Plus Challenge,
36:51 by 2030, these targets include clean energy, 25% clean energy mix, a mix between renewables
36:58 and energy efficiency, greenhouse gas emissions reduction by 20% within the city of Ekurhuleni.
37:06 Improvement in local food production and harnessing the agricultural potential of the
37:10 region, at least by 20% food consumed within the region is grown locally.
37:16 [Is'haaq Akoon]: Natural resource management, reverse the trend of
37:18 natural resource loss, by increasing fresh water security, watersheds and wetlands protection,
37:24 community based wetlands management, invasive species control, and natural species restoration,
37:29 a 50% reduction of waste within the city. And that's specifically diversion from landfalls,
37:36 including recycling and bioconversion.
37:39 [Is'haaq Akoon]: Smart sustainable communities,
37:41 by improving the livability and resilience within the built environment,
37:44 through adequate planning and well-designed infrastructure.
37:48 And then green workforce and an environmentally educated community. I think these are the
37:54 specific targets that we've set for the city, and we are really looking forward
37:58 to carrying out these targets, and ensuring that we achieve net-zero by 2050. Thank you.
38:05 [Elleanor Robins]: Thank you, Is'haaq. Really,
38:06 really comprehensive overview of all the different sectors that you're looking at. And
38:12 I know that your city partnered with IFC for the use of Apex.
38:16 [Elleanor Robins]: And Apex is a data-driven
38:18 cloud-based platform that IFC has the developed, and it helps cities identify
38:22 potential climate smart projects and develop a climate smart action plan.
38:26 Could you perhaps tell the audience today how Ekurhuleni used this tool?
38:31 [Is'haaq Akoon]: Great. Yeah. I think a fantastic opportunity
38:35 for us was given to us in 2020, when we began the collaboration with IFC to develop a Green Climate
38:42 Action Plan for the city. The Green Cities Action Plans seek to support the city of Ekurhuleni's
38:48 achievement in mitigation targets, and using sound data from Apex. The Green City Action
38:54 Plan provided a roadmap that could aid the city to become a resilient and carbon-neutral city region.
39:01 [Is'haaq Akoon]: The Green City Action Plan
39:04 prioritizes and quantifies the impacts of 20 selected solutions or measures,
39:08 refers to as measured, sorry, focusing on four key sectors, energy, water, waste, and transport.
39:15 Implementing these priority measures is expected to support a 23.7% greenhouse gas reduction.
39:21 That's around 3.4 million tons of carbon dioxide in the greenhouse gas emissions, by 2030.
39:27 [Is'haaq Akoon]: We had already worked closely
39:29 with stakeholders internally and within the city to develop a future vision for our city, as part
39:34 of our change strategy, including developing specific response plans for various municipal
39:40 departments that sought to reduce carbon emissions and adapt to climate change.
39:44 This was done in around 2017 and 2018. However, implementation was stagnant.
39:50 [Is'haaq Akoon]: And due to COVID-19, a lot of the
39:53 budgetary requirements that we had envisioned would come into effect, did not happen.
40:00 So using the IFC's Apex tool, we helped quantify and reprioritize our vision, both in terms of
40:06 the environmental impact and costs, and to explore policies and investments that drive and accelerate
40:12 implementation. Given that we had lost already a two-year or three-year time period.
40:16 [Is'haaq Akoon]: Apex also provided insights on possible payback
40:20 periods of our investments, in particular where actions supported greater resource efficiencies,
40:25 and therefore cost savings. I'm confident to say that now, we have a better understanding
40:30 of what immediate actions can be taken to reach our sustainability goals, and a financing model
40:36 that could help us get there. Thanks very much.
40:38 [Elleanor Robins]:
40:40 Thank you. Thanks, Is'haaq, for walking us through that. And perhaps you could give us a sense of how
40:47 now, the of Ekurhuleni intends to use the specific outputs that Apex has provided.
40:53 [Is'haaq Akoon]: Yeah. I think it's no
40:56 coincidence that the finalization of our Green Cities Action Plan comes at the same time as we
41:01 usher in a new elected local government. We have just gone to the polls on the 1st of November,
41:08 and the newly elected political officials offer their administrator or as their administration,
41:14 the opportunity to lobby support, realign service delivery, prioritizing resources,
41:19 and further ensure that we advance our communities to bold climate action.
41:23 [Is'haaq Akoon]: Through Apex, our greenhouse gas
41:26 calculations for each of the sectors were made. It also provided the scenario for what happens if
41:31 no change is made. So business as usual, versus an improved case, giving the city confidence in
41:37 our targets and the measures that would take us to a more resilient and climate proof future.
41:42 Much of the climate change commitments that we would require of a newly elected city government,
41:47 would be positively informed by the Green City's Climate Action plan, underpinned by Apex.
41:52 [Is'haaq Akoon]: The Green Cities Action
41:54 Plan details the various measures for the city, including city level policies, investments, and
42:00 planning strategies that can help the city meet these climate change mitigation and sustainability
42:05 targets, as I've alluded to earlier. As such, it has provided an implementation roadmap
42:10 while detailing areas where public and private climate related investments could be leveraged,
42:15 which can be influenced by city level policies and plans that we have control over as the city.
42:20 [Is'haaq Akoon]: In implementing the Green Cities
42:22 Action Plan, the city will integrate measures and targets into the city's development planning
42:27 process and budgeting processes, to support detailed planning and ultimately implementation.
42:32 In addition, the city will look at mobilizing and working with key partners and other stakeholders,
42:38 both in the public and private sector, to ensure that we get this work underway,
42:43 such as through urban planning, where we've got incentives
42:46 to catalyze action, where project paused for private sector to make investment.
42:50 [Is'haaq Akoon]: In addition to this year,
42:52 we've got independent power producers that are coming online within the city of Ekurhuleni that
42:56 will advance our renewable energy mix within the city, and our reliance on coal-generated power.
43:03 Further, to this year, we are looking at remodeling our
43:07 waste generation and waste land filling, and moving from what we call traditional
43:12 waste methods to an alternative waste treatment system, which would probably be underpinned by
43:17 newer technologies in incineration and assist with managing the waste of the city. Thanks, Elleanor.
43:25 [Elleanor Robins]: Thank you. Thank you, Is'haaq.
43:29 It's really striking how this is touching on so many different sub sectors within the city,
43:34 and how climate action does span across many different areas.
43:38 [Elleanor Robins]: And I'm wondering if
43:39 you can tell us a little bit more about that interconnectedness and how you went
43:44 about making sure that internally, within the city, the various departments were involved in
43:50 making this happen, and also externally, how you worked with other stakeholders.
43:54 [Is'haaq Akoon]:
43:55 Great. Yeah. I think it's always difficult with climate change, trying to get everybody
44:01 around the table that speaks the same language and understands the terminology the same way.
44:06 I think for the development of the GCAP, or the Green Climate Action Plan,
44:10 the city made use of nominated sector representatives to work with the IFC team
44:14 to ensure outcomes of the process reflected the city context and aligned with the city policies.
44:18 [Is'haaq Akoon]: So we essentially
44:20 went out to the different head of departments and got them to nominate specific individuals,
44:25 both with the technical background, as well as the management experience to ensure that we have the
44:30 related measures within the GCAP that would speak to the priorities of that department. We also had
44:37 built something within the city just prior to launching the GCAP, called the Resilience Forum,
44:44 as that was the best coordinating body for the municipality.
44:47 [Is'haaq Akoon]: Many of the representatives
44:49 that formed part of the Project Steering Committee for the GCAP, were represented in this
44:55 Resilience Forum. The GCAP then used this body to share the outcomes from the Apex,
45:00 and get input on the processes from the different city officials and the different line functions.
45:05 The final document was prioritized with the ... Sorry. The final document,
45:09 with the prioritized actions, were shared in this platform with all members for review and comment.
45:14 [Is'haaq Akoon]: The final action plan has
45:15 been reviewed internally and externally as well, to ensure alignment with all relevant national
45:21 and international best practices. We even had the opportunity to bounce it off our academia
45:26 colleagues within the province, as well as our provincial and national departments.
45:31 And then also the private sector within our business forums.
45:34 [Is'haaq Akoon]: The Green Cities
45:36 Action Plan is one of the pieces of the city's comprehensive approach to addressing climate
45:39 change and promoting sustainable development. Separate work is in progress that will elaborate
45:44 on the city's climate risks and resilience and adaptation actions, as well as extend
45:50 the strategy into the future within an eye on achieving net-zero emissions by 2050.
45:55 [Is'haaq Akoon]: The city is a member of C40,
45:57 which is a cohort of cities all working towards reaching carbon neutrality by 2050, through
46:02 implementation of various climate action plans. Through the involvement with C40, the city hopes
46:07 that the funding opportunities will be unlocked to help further finance the implementation of
46:12 the identified measures through partnering with other private and public sector partners. Thanks.
46:18 [Elleanor Robins]:
46:20 Thank you. Thanks, Is'haaq. Very, very interesting. And I'm sure also, having you
46:26 in your role as Senior Manager for Climate Change, being able to bring all of these parties together,
46:32 has been really, really critical. So thank you very much for that.
46:35 [Elleanor Robins]: Perhaps to end here our conversation,
46:40 an important question would be, what call to climate action would you extend to your peers
46:45 in city administrations around the world?
46:47 [Is'haaq Akoon]:
46:51 Thanks, Elleanor. Sorry. Yeah. I think the importance of working
46:56 with all aligned departments within the city, I think that's fundamental.
47:00 I think there's opportunities with having good, sound data, as was provided by the Apex tool to
47:06 promote your cause, to instill confidence within the system, to ensure that the city
47:13 works towards a better understanding of common issues and common problems.
47:18 [Is'haaq Akoon]: Further to that there,
47:20 I think it's important that the Ekurhulenis among the cities around the world that's undertaking
47:26 efforts to incorporate evidence-based assessments into their climate change planning,
47:31 and I think that's what Apex has offered us,
47:33 an opportunity to baseline a lot of the data and then further develop on that there going forward.
47:38 [Is'haaq Akoon]: Ensuring that we are reporting into different
47:41 platforms, the CDP platform for one, well quantified measures and actions that will then
47:48 enhance our city, build resilience, and ensure that we achieve the relevant targets set out.
47:53 [Elleanor Robins]: Thank you so much, Is'haaq. It's been a really
47:57 insightful conversation. And really bringing this citywide perspective has really helped us
48:03 round off this event today. Thank you. Thank you very much for joining us.
48:07 [Is'haaq Akoon]:
48:07 Fantastic. Thanks Elleanor, for your time. Appreciate the opportunity.
48:10 [Elleanor Robins]: Now, we could be talking about this
48:12 topic for a lot longer, but unfortunately, we're coming to the end of our time.
48:17 Whether you are coming from the private sector or the public sector, whether
48:21 you've been watching this as an investor, a policy maker, a developer, or simply and
48:25 perhaps most importantly, as a citizen, we do hope you enjoyed the conversation today.
48:29 [Elleanor Robins]: And we hope that it gave the
48:31 inspiration to know that incorporating mitigation and adaptation to climate change in cities
48:36 is possible and profitable. By prioritizing sustainability,
48:40 cities around the world can ensure that both environmental and economic
48:44 benefits are enjoyed by residents of today, and also residents of tomorrow.
48:47 [Elleanor Robins]: IFC is here to partner with you,
48:49 with our tools, advice, and finance, and hope to continue to work to advance this important agenda.
48:57 Thank you deeply, to all of our speakers, and thank you to all for joining us.

The World Bank Group at COP26

As COP26 takes place in Glasgow, UK, the clock is ticking for high-impact climate action to deliver on the promises of the Paris Agreement. World leaders and national delegations, representatives from businesses, civil society and youth are gathering to tackle the climate crisis. See the full program.

Status message

Thank you for requesting an event reminder for email We have just sent you a confirmation.

Error message

It looks as though the e-mail address: email is already registered for reminders for this event.

Error message

Something went wrong