Tuesday, October 15, 2019

Amata gets IFC backing in sustainability push

May 09. 2019
Lena Ng, left, chief investment officer of Amata Corporation Plc, and Vikram Kumar, IFC country manager of Myanmar and Thailand, sign an agreement backing their cooperation.
Lena Ng, left, chief investment officer of Amata Corporation Plc, and Vikram Kumar, IFC country manager of Myanmar and Thailand, sign an agreement backing their cooperation.
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By THE NATION

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THE INTERNATIONAL Finance Corp (IFC) will work with Amata Corp, a provider of smart cities and industrial zones, to develop sustainability projects in Thailand and the broader Mekong region.

The industrial sector in Thailand, Cambodia, Laos, Myanmar and Vietnam contributed 32.3 per cent of the region’s GDP in 2017 and provided an estimated 20 per cent of the employment, said the IFC, the private-sector arm of the World Bank.

It said that industrial zones provide a good platform for supporting interventions for green buildings, clean energy, energy efficiency and climate-smart water and waste infrastructure. The proximity of multiple co-located tenants also provides opportunities for green energy, innovative wastewater treatment and other “circular economy” projects that effectively use valuable resources.

Implementation of such sustainability projects can help zones follow an environmentally less destructive growth path and transition towards eco-efficiency consistent with national government priorities.

“We welcome this partnership, which is timely and will help us strengthen our market position as a leading developer of sustainable smart and eco cities and townships that promote green growth,” said Lena Ng, chief investment officer of Amata Corporation Plc, after the company signed the enabling agreement with the IFC. “Further, IFC will bring in a wealth of knowledge about global best practices as well as technical and industry expertise to this partnership. This will enable us to create sustainable, eco-efficient smart cities and townships in Thailand and the Mekong region.” 

As part of the memorandum of understanding, which was signed yesterday, IFC and Amata will identify projects for co-investment opportunities and encourage the use of sustainable energy, water, and waste solutions for buildings and infrastructure in existing and new smart cities, industrial zones and townships. They will further raise awareness on green growth and promote sustainable design practices in selected zones in Thailand and the Mekong region.

“As a sustainability pioneer, IFC has extensive experience in developing eco-efficient zones, including in the green buildings space. We are creating markets and supporting climate-smart investments by promoting new regulations and standards, business models and financing mechanisms,” said Vikram Kumar, IFC country manager for Myanmar and Thailand.

“Collaborative partnerships such as this can help decouple economic from environmental growth while promoting a sustainable private sector,” he said. “Together with Amata, we expect to further build capacity for eco-efficient smart cities zones, green buildings, and climate-smart infrastructure by developing bankable investment projects.” The IFC supports greater private-sector investment in green buildings and sustainable development. It has a green building portfolio of more than $4.5 billion (Bt143 billion), which includes its own direct investments and mobilised financing. IFC aims to achieve green building market transformation in a growing number of countries through its Excellence in Design for Greater Efficiencies (EDGE) certification system and |the Green Urban Development (GUD) tool.

 

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