Verde Two: Indonesia’s First Zero Carbon High-Rise Residential Complex
Leading the Charge toward EDGE Zero Carbon
IFC Celebrates Asia Green Real Estate’s and Farpoint's Achievement: Indonesia’s First Zero Carbon High-Rise Residential Complex
Verde Two Receives EDGE Zero Carbon Certification
Jakarta, Indonesia – Nov 21 2024 – The International Finance Corporation (IFC), a member of the World Bank Group, is proud to announce that Verde Two, developed by Asia Green Real Estate, and Farpoint, has become Indonesia’s first high-rise residential complex to achieve the prestigious EDGE Zero Carbon certification. This milestone underscores the critical role of sustainable real estate in the global effort to reduce the 40% of global emissions attributable to buildings and construction.
„The EDGE Zero Carbon certification of Verde Two is a testament to our commitment to creating value through sustainable real estate investments. We believe that green buildings not only benefit the environment but also enhance the health and well-being of their occupants. With the EDGE Zero Carbon certification, Verde Two stands as a benchmark for green buildings in the region”
Alex Buechi, Managing Partner at Asia Green Real Estate
Verde Two: A Model for Zero Carbon Living
Verde Two has achieved remarkable sustainability metrics, including 43% energy savings, 26% water savings, and 45% less embodied energy in materials compared to an average local high-rise residential building. These achievements are in line with Indonesia’s ambitious goal to achieve net zero emissions by 2060.
The EDGE Zero Carbon certification, developed by IFC, is the highest internationally recognized standard for green buildings. To qualify, a building must first attain EDGE Advanced certification with a minimum of 40% on-site energy savings and meet all remaining energy requirements through renewable energy sources or carbon offsets to maintain carbon neutrality in operations. Verde Two achieved EDGE Advanced certification in 2020, marking significant progress in reducing energy consumption through green building measures.
Innovative Decarbonization Solutions
Verde Two’s zero carbon standard has been reached through a variety of innovative decarbonization solutions, including LED lighting, high-efficiency water fixtures, high COP (coefficient of performance) air conditioning, and double-glazed low-emissivity window glass that minimizes UV and infra-red transmission while reducing sound pollution. Additionally, Verde Two is the first residential complex in Jakarta to feature an advanced AC system with PM2.5 double filtration technology, ensuring clean indoor air for its tenants.
Driving Market Transformation
The implementation of these green building measures is crucial not only from an economic perspective but also from an ecological and social standpoint. Sustainable properties reduce policy risks, generate higher rental income, and achieve higher occupancy rates, leading to an enhanced risk/return profile for investors. Investments in ESG-compliant buildings improve the living and working environment for tenants while simultaneously reducing climate impact.
IFC’s Commitment to Green and Resilient Buildings
IFC has been at the forefront of promoting sustainable development in the built environment. Through the EDGE program, IFC has delivered value for over 11,600 projects and more than 613,000 housing units in 110 countries, saving over 1.8 million tons of CO2 each year. With cumulative green building investments of US15.7 billion and an annual investment average of US2 billion, IFC continues to drive market transformation towards sustainability.
Recent Achievements by Asia Green Real Estate
For the past six years, Asia Green Real Estate has consistently elevated its green building initiatives, achieving strong results in the GRESB assessment. In 2024, the company continues its record of excellence. The prestigious GRESB 5 Star rating reaffirms Asia Green Real Estate’s position as a benchmark for sustainability in Asia. In the 2024 assessment, Asia Green Real Estate scored 95 points for the performance of its standing assets held by the Asia Green Real Estate Fund (ISIN LU1508519128), substantially exceeding the global GRESB average of 76 points. In addition, the Asia Green Real Estate Fund’s standing investments ranked first in Asia in terms of GRESB score within diversified – office and residential real estate and have been awarded the GRESB Global Sector Leader designation.
The outstanding scores are a direct result of rigorous implementation of sustainable building measures. Central to Asia Green Real Estate’s sustainability strategy is comprehensive data monitoring, which allows to collect and analyze performance data related to energy, greenhouse gas emissions, water usage, and waste. This approach enables the company to identify and implement sustainability improvements. As a result, Asia Green Real Estate’s properties meet globally recognized green building standards.
The consistent GRESB scores achieved in the last years reflect our commitment to environmental responsibility, solidifying our leadership in green building in Asia. We look forward to further advancing our efforts in the coming years, with a focus on expanding the EDGE certification on additional properties and implementing our portfolio-wide net zero strategy.
Arista Dharsono, Global Head of Sustainability at Asia Green Real Estate
About GRESB
GRESB is a mission-driven and industry-led organization that provides actionable and transparent environmental, social, and governance data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world. The 2024 real estate benchmark covered more than 2,000 property companies, real estate investment trusts, funds, and developers. Combined, GRESB represents USD 8.8 trillion in real asset value. More than 150 institutional investors, with over USD 50 trillion AUM, use GRESB data to monitor their investments, engage with their managers, and make decisions that lead to a more sustainable real asset industry.
About Asia Green Real Estate Fund
The Asia Green Real Estate Fund is a SFDR Article 9 qualified fund holding a core+ portfolio of sustainable residential and office properties at prime locations in Asia’s leading metropolises. The open-ended fund invests in sustainable core and refurbish-to-green properties. Green buildings reduce policy risks and generate higher rental income as well as higher occupancy rates, leading to an enhanced risk/return profile for investors.
About IFC
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. IFC leverages its products and services—as well as products and services of other institutions in the World Bank Group—to provide development solutions customized to meet clients’ needs. For more information, visit ifc.org.
