The World Green Building Council’s Europe Regional Network and the European Bank for Reconstruction and Development (EBRD) have signed a Memorandum of Understanding in support of sustainable property development.

The agreement provides a framework to cooperate on a number of areas of sustainable building practices, including promoting best industry standards and practices for energy and resource efficiency, climate resilience and building sustainability; promoting innovative zero-waste design, green urban planning and low carbon emissions; engaging in policy dialogue; and mobilisation of financial resources.

It will cover cooperation with the Europe Regional Network in countries of common operation.

James Drinkwater, WorldGBC’s Regional Director for Europe, said:

“EBRD has been a key driving force within the European investment community, driving up local standards on energy and environmental performance in buildings. We look forward to working together to promote green building certification, support policy dialogue, and engage the wider investment community.”

Claudia Pendred, EBRD Director, Property and Tourism, said:

“We are very pleased to join forces with the World Green Building Council as we share the same vision and goals for energy and resource efficiency. The EBRD is keen on providing funds for investments in this area and aims to increase our green financing to around 40 per cent of total annual investments by 2020.”

The agreement was signed today in Zagreb, Croatia, at the Twelfth Annual International Conference on Real Estate Development. The two parties agreed a work programme for 2016 where Croatia will be the first country they will work together with, alongside the Croatia Green Building Council. This will include collaborating on financing components of Croatia’s national building renovation strategy through WorldGBC’s BUILD UPON project (www.buildupon.eu).

The EBRD works to support the development of the private sector across Europe, the Southern and Eastern Mediterranean and Central Asia, and the provision of modern real estate infrastructure is essential to support economic expansion and diversification in these regions. Through its involvement in property and related markets, the EBRD has been redressing the fundamental undersupply of modern, high-quality, energy efficient commercial, logistics and residential real estate in the region.