Friday, July 12, 2024

IFC alert: vulnerable buildings in Mozambique could result in loss of funding

Amid the growing climate challenges plaguing Mozambique, the country faces the imminent threat of losing access to international funding if it does not urgently adopt an approach to make its buildings more resilient to climate change. On Tuesday, December 12, the International Finance Corporation (IFC) presented the Building Resilience Index (BRI), pointing to the pressing need to promote construction that is adaptable to the impacts of climate change.
The IFC’s Mozambique Resilient Buildings Market Assessment Report highlights that, despite significant awareness of climate risks, the country has yet to fully implement its robust policy and legal frameworks for resilient buildings. Vasco Nunes, Acting Director of the IFC in Mozambique, points out that the lack of implementation of these measures can have a direct impact on access to finance, considering that the country still imports a large part of its construction materials.
The construction sector in Mozambique, as the report points out, faces significant challenges, including difficulty in accessing finance and dependence on imported materials. The lack of resilient buildings not only increases environmental risks, but also represents a barrier to sustainable development in the country.

Resilient buildings, designed to withstand and adapt to environmental challenges, are emerging as a critical need in a country that ranks among the 10 most climate fragile on the African continent. With 90 cyclones recorded between 1950 and 2022 and the frequent occurrence of floods, the urgency of adopting resilient building practices is becoming clear.
The IFC highlights the importance of the Building Resilience Index (BRI) in mapping hazards and assessing resilience, with Mozambique being the first country in sub-Saharan Africa to benefit from this initiative. The Framework is already active in several countries, including the Philippines, Vietnam, Colombia and Mexico, and is an essential tool for developers, homebuyers and other stakeholders.
Faced with the challenging scenario, Feliciano Dias of the Mozambican Order of Engineers emphasizes that by following the country’s regulations, it is possible to achieve resilient buildings, stressing the importance of concrete actions to tackle climate challenges and ensure a sustainable future for Mozambican buildings.

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