According to a new post in IDB Invest blog, green building certifications like LEED and EDGE play a crucial role in reducing emissions – the hotel sector contributes around 8% of global carbon emissions –by encouraging and recognizing sustainable practices in the construction and operation of buildings.

• Leadership in Energy & Environmental Design (LEED) certification, founded in 1993 and administered by the United States Green Building Council (USGBC), provides framework for healthy, highly efficient, and cost-saving green buildings. LEED has four levels of certification: Certified, Silver, Gold and Platinum, the latter being the highest. There are approximately 1,000 LEED-certified hotels globally, only 71 of them in Latin America and 4 in the Caribbean. IDB Invest led the financing for the Courtyard in Kingston, one of the first LEED-certified hotels in the Caribbean.

• Excellence in Design for Greater Efficiencies (EDGE) certification, developed in 2015 and administered by the International Finance Corporation (IFC), focuses on reducing the environmental impact of buildings based on three levels of achievement: Certified, Advanced and Zero Carbon, the latter being the highest. There are 24 hotels currently seeking EDGE certification in Latin America, four of which have attained the Advanced designation, but none have achieved Zero Carbon. The first hotel slated for certification is the Four Points in Georgetown, Guyana, a pioneering project financed by IDB Invest on track to achieve EDGE Advanced.

The authors conclude that combining technical assistance and blended finance can further promote the sharing of knowledge and best practices, in addition to providing incentives to ramp up climate action.