Romanian real estate developer and investor Iulius announced it signed with IFC, a member of the World Bank Group, “a partnership for the purpose of developing a strategy to decarbonize the entire portfolio of the company and achieve net-zero emissions.”

Through this partnership, Iulius and IFC are helping to accelerate climate action in real-estate developments, said Ary Naim, Regional Manager for IFC in Central and Southeast Europe, Bursa.ro reported.

“We want to contribute even more to maintaining a healthy environment by reducing the carbon footprint in all eight of our projects,” Dan Adrian Chelaru, Group Sustainability Officer Iulius, said, stressing that Iulius has always built in an environmentally conscious manner and owns the only LEED (Leadership in Energy and Environmental Design) certified nationwide shopping mall network in Romania.

The company says “IFC will use the Green Pathways for Real Estate Institutional Portfolios (GRIP) platform to provide solutions for defining, implementing and financing the plans of Iulius to reduce greenhouse gas emissions and to reach CO2 neutrality as soon as possible.”

This would be the first such engagement in Romania, Iulius says. Apparently, this would be the first such engagement globally since the public information on IFC’s GRIP scheme is next to inexistent.

IFC has extended EUR 72 mln financing to Iulius, in 2021, for the development of the Palas Campus office building in Iasi – a building declared to be “energy efficient.” 

iulian@romania-insider.com

(Photo source: Iulius)