IFC expert briefs CSR Forum on asset classes of sustainable energy finance

10 / 03 / 2022

• Egypt
• news
• Sustainable Development

Fares Kikano, International Finance Corporation (IFC) Sustainable Energy Finance Technical Expert, briefed the 12th Corporate Social Responsibility (CSR) and Sustainable Development (12th CSR Forum) – which opened on Thursday in the Upper Egypt governorate of Luxor – on asset classes that fall under sustainable energy finance.

“We have several asset classes, we have renewable energy which is financing any form of renewable energy resource, including wind, solar, etc, in addition to supporting the whole value chain of renewable energy, including local manufacturer of components to connect to the grid, importers, distributors, etc. All this falls under the renewable energy asset class,” he said.

“The second asset class is energy efficiency which is obviously product, technology and particularly industrial processes that would lead to sizeable greenhouse gas emission reduction,” he added.

“The third asset class is green buildings which represent new buildings that meet an improved energy performance that saves water and reduces the energy in the material that is being used… and it has to be verifiable through a certificate,” he said.

“Another asset class is represented in clean transportation, electric vehicles and hybrid cars – during transitional period – as well as any initiative or project that is model ship that helps reduce greenhouse gas emissions,” he added.

Water efficiency like energy efficiency also applies to the industrial sector in particular, and to all sectors in general. It is technology that can reduce substantially the water, he said.

The last asset class has to do with agriculture and focuses on projects aiming to increase the yield and reduce the losses in the product, he said, considering this as a very important class.