FAST-Infra and SI Label: Promoting Common Standards on Sustainable Infrastructure

A sustainable infrastructure investment gap estimated about $3 trillion a year over the next 10 years, especially in developing countries where infrastructure deficits are easily observable.

The public and private sectors had taken immediate action to reach zero net carbon emissions in new hospital projects by 2030, with all buildings retrofitted to zero net carbon by 2050.

The first IFC initiative Green Building Certification System called EDGE, that PPPHealth4All offers as a service, empowers to scale up resource-efficient hospitals and other social infrastructure in a fast, easy and affordable way. 

It is now clear that if the current generation doesn’t accelerate in developing sustainable infrastructure, the global population won’t be able to meet decarbonization goals in line with the Sustainable Development Goals and Paris Agreement commitments.

Recognizing the need, the Global Infrastructure Facility (GIF) together with the Climate Policy Initiative (CPI), HSBC, the International Finance Corporation (IFC) and the Organisation for Economic Co-operation and Development (OECD) came up with initiative called FAST-Infra—the ‘Finance to Accelerate the Sustainable Transition-Infrastructure initiative. First claimed and developed in 2020 by One Planet Lab, “FAST-Infra is a public-private initiative bringing more than 50 organizations together to push for collective action to mobilize private finance and de-risk investments in sustainable infrastructure in developing countries.”

The next step was to create a consistent, globally applicable labeling system for sustainable infrastructure. The working group with Macquarie Green Investment Group developed a key component of FAST-Infra – The Sustainable Infrastructure Label (SI Label). It is meant as a tool to guide project planning, prioritization, and design. One of the goal of the label certification is to motivate public authorities to design more projects with sustainability criteria at their core —encouraging developers to maintain high environmental, social, and resiliency standards at all stages of the infrastructure lifecycle.

The public consultation and invitation to submit an Expression of Interest to develop data reporting platform closed on August 31, 2021. The respondents to this EoI will be reviewed and successful expressions will be selected for further engagement ahead of an Invitation to Bid stage.

Learn more about the initiative here.

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