Nairobi City hosted its inaugural green housing conference, aimed at garnering support for environmentally sustainable and affordable housing initiatives in East Africa.
Organized by the Kenya Green Building Society (KGBS) in collaboration with Reall, a prominent investor in climate-smart affordable housing in urban Africa and Asia, the event drew stakeholders from across the continent.
Dubbed ‘A Call to Action: Unlocking Financing Opportunities for Green Affordable Housing for the Kenyan Market,’ the conference welcomed key industry players, including the International Finance Corporation (IFC), Kenya Property Developers Association (KPDA), Architectural Association of Kenya (AAK), and Kenya Bankers Association.
The timing of the conference coincided with a burgeoning interest in green building technologies throughout Kenya and Africa, with an increasing number of developers and individuals embracing environmentally sustainable architecture in their construction projects.
A survey conducted by Knight Frank, a renowned global real estate firm, revealed that 29.0% of homebuyers in Africa prioritize green homes and are willing to incur additional costs for them. Moreover, a separate survey by KGBS indicated that 19.3% of households in Kenya are powered by solar energy, underscoring a significant inclination towards green housing.
Green homes prioritize environmental sustainability by emphasizing efficient energy, water, and construction material usage.
They often incorporate eco-friendly or recycled building materials and may utilize renewable energy sources like solar or geothermal power. Additionally, they are strategically positioned to maximize natural features such as sunlight and tree cover, thereby optimizing energy efficiency.
The conference played a pivotal role in mobilizing sustainable finance and fostering partnerships for affordable green housing. Its occurrence signifies recognition by stakeholders in the built environment of the paramount importance of green affordable housing in mitigating climate change through emissions reduction.
According to the United Nations Environmental Programme (UNEP), real estate contributes approximately 30.0% of global annual greenhouse gas emissions (GHG).
Thus, there is an urgent call for stakeholders within the sector to embrace global efforts aimed at both adapting to and mitigating climate change, thereby ensuring sustainability.
